Current yield and next quarter may cause some to panic and sell. I'm holding because there is always upside if oil prices spike. Meanshile the dividends make it easy to wait. Still it goes to zero in about 15 years. It's just a matter of when you cash out.
viahosa2000, I also have been concerned about the rapid drop in price, but it looks as if some fund wants out at any price. As for the quarter, I think they are going to report an average WTI price of around $94.10 for the period. I use the monthly average price, not the daily, so i am usually off 5-15 cents and a very slight increase in production over the previous 3 months, but a nice increase over the same three months of 2012. For the quarter,I think we see chargable costs of around $30.30/barrel and taxes of around $25/barrel, leaving about $38.80 of royalty/barrel. For next quarter, i calcuate a distribution between $2.45 and $2.55. My assumptions and calculations are : the average price of WTI should be about $105.80 (daily price for July, August, Sept), chargable costs of $31/barrel (a little high) and taxes of $28-$30/barrel, for an average royalty of between $44.80 and $46.80/barrel. I expect the production to be around 1,345,000 barrels (total), for a distribution of around $60m to $63m on 24.4m shares or $2.45 to 2.55. However, could be a long quarter until we get to the January announcement.