Check my last post below. I initially purchased 1,000 shares at $ 17.96 without really a 'good feel' for this royalty trust. After further review and seeing the raising of additional funds by PCEC and reading most of the prospetus, I am leaving here to go buy another 1,000 shares. Why? The property has historically been pumping out the black gold since the late 1800's early 1900's - the wells have a remaining life of 15 to 27 years. Given new current and yet to be discovered technology will further extend their lives. PCEC (IMHO) is raising cash for additional well drilling... Shoot .. nothing is a guarantee is life.. If you can't run with the dogs, go sit up on the porch with the puppies... Time to ante up and enjoy buying this trust at such a discounted value.. Gitty up.. already got my first trust distribution so I guess I broke my ch.rry... on this tust. Been in oil & gas last decade.. the major, independents but mostly the MLPs. For me, it's time to look at these Royalty trusts and a comfortable retirement. I love this monthly distribution stuff.
Well, it's stil called diversification; their prospectus states management's interests are aligned with the trust holders so I have to believed they are being paid to uphold their fiduciary responsibilities. The wells are long-lived and will continue to hold value and keep pumping out crude. Remembering the old motto, 'buy low..sell high' IMHO it's a buying opportunity.. reminds me of when I bought PSE at $ 10.. (paying a 20% dividend) it's now around $ 42. Recently bought MHR at $ 4; it hit over $ 7 yesterday.. I hope I continue to be so fortunate and this to include ROYT..
Good post! Thank you. I too have been buying in at these levels...thank you for the heads up...just bought 250 more at about $16.40...of course my 'average price is above these levels...not unlike most trust holders-I too am very grateful to have extra $$$'s enabling me to participate in further value opportunity here!
I'm jealous. I just paid $ 16.42 .. :) Personally I'm around 50% cash right now after taking my chips off the table a month or so ago around the highs. This provides me the luxury to 'buy in' when I see dips in investments I already own or new opportunities. Like I said, I sold my MLPs which were my vast holdings .. and moving on.. Right now I plan on holding ROYT for quite some time.. and if my dog (ROYT) won't hunt and drowns in the lake, my 2,000 shares won't drown me either.. But depending on what PCEC hits when they are drilling these new wells on "PROVED LAND" .. WE all need to stay tuned and be aware of what they are doing as this may lead me to want to up the anty to around 5,000 shares.... remembering there may be some slow cash flow months as they go through this drilling period... I'm in