Just curious. You infer that the trust can maintain this approximate distribution level to 2031. This implies that reduced oil production can be reversed via reserves. I haven't been able to find the trust's oil & gas reserves. Have you?
It is absolutely false to think the distributions will be maintained. The prospectus was very clear about that. Once they finish drilling, the distributions decline continually till the trust ends.
Same is true for all of these new trusts (CHKR, ECT, SDT/SDR/PER). It is nothing to do with reserves, simply that they stop drilling after a certain number of wells are drilled and then natural decline takes over.
The concern is that most of these new trusts are showing declines even earlier than anticipated in the prospectus.
Think this trust too new to be running out of oil. For my own thinking this one quarter being over blown on the down side. The action past few days with high volumes seems to show hedges are making the plays off the news.