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San Juan Basin Royalty Trust Message Board

  • old_crowe old_crowe Dec 22, 1999 11:11 AM Flag

    Note absence

    of comments on SBR especially by Bottomfisher1.
    Makes me wonder if I have missed something by owning this Royalty Trust for many years. Anyone care to correct my thinking. Thanks

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    • in an individual account - easily a 10 % distribution that I offset with margin debt--carries itself nicely tax credits and all.

    • Not bad, not up to LRT (if you bought at $1.25-$2.50).I have it in an IRA as the tax stuff would drive me nuts .

    • So, where is this trust headed, pricewise?

      • 2 Replies to Axecent
      • have latched onto a substantial stake in this
        baby. I don't look for a fast ride up but rather a slow
        grinding upward. Really a long term play given their
        continued exploration(with some sucess I might add). Good
        asset base should provide excellent long term value.

      • then the distribution is going to increase as
        well. Remember, the May distr. is based on March
        prices. Also, current capital spending is taken out but
        you still should have two major positives going for
        you :
        1) NG prices should be good for several
        years & 2) little appreciated is volume growth. BR has
        gone from 160 acres spacing to 80 !!! Will anyone care
        when the distribution goes from 6 cents to 15 cents
        per month ?

    • Historically, it pays to buy gas in late winter
      of an exceptionally warm year. This year that could
      be even more true. All over the country consumers
      and businesses are turning to gas in favor of now
      very high priced heating oil. Gas is a North American
      supply market; and drilling is way down. No doubt global
      warming is real, but there will be fluctuations, people
      will need heat. Furthermore, gas fires more of N.A.
      electricity generation every year. Eventually, hot summers
      and electric cars will be as bullish for gas as cold
      winters used to be.
      Keep the faith Doc, this is low
      risk given a little time!

    • if we'll test the highs again, but it did hit 10
      this past week. I like the tax credits and the good
      income stream. I have 3k units and plan to hold til my
      cost basis is down around 0. When the tax credits run
      out (2003) I'll look at the reserves left and make a
      decision. The way I see it, I'm up 50+% just on price and
      depletion and I like the income, so I'm not planning to
      sell this year.

    • the high for this stock? Winter wasen't as cold
      as forcast, natural gas not as expensive, and not
      linked to oil prices. I finally sold the other day just
      below 10. Held for years, sold about 7000 shares. Am
      holding my other trusts that are more oil-focused.

    • < It occurs to me that, if this is correct,
      there is no potential takeover by Alpine; it is simply
      a lucrative investment for them.>

      know how lucrative it will be; but I know for sure
      that there can be no takeover. There is nothing to
      takeover, only the right to receive overriding

      Additionally, Robert Bruce, who manages Alpine Capital, has
      some pretty quirky investment ideas; I don't think he
      would by any stretch be considered a Buffet type

    • also has major investments in MTR and PBT.

    • Alpine Capital is a group of investors led by the
      Bass Brothers. Franco has put their oil holdings up
      for bid unfortunately. I noticed today in the SEC
      filings another group has accumulated a 5% share -
      Capital Investments I believe. No wonder why this stock
      won't break.

    • I have heard rumors that Alpine actually is the
      Canadian mining royalty house Franco-Nevada (FN.TO). The
      story goes that they are, and have been, parking their
      cash in SJT for both income and safety. It occurs to
      me that, if this is correct, there is no potential
      takeover by Alpine; it is simply a lucrative investment
      for them. I do know that FN.TO is under fire from
      their shareholders for investing in hydrocarbons and
      nickel instead of sticking to 100% gold. Can you or
      anybody else confirm that my mystery source is correct?

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