Yes, all good questions and massive cash stored in the answers. But don't you think its possible that the trustees tried forensic accounting and come up empty? My god what a trail it must be.
So I say just get back on track here and now with proper accounting for the current cash flows. Get those under control and then go after your other questions.
One step at a time. The questions you pose require money and time to answer. But the current Jay Field cash flows should be easy to get, its all fresh info.
I would like to discuss options. BTW, in June of this year the Jay Field produced over 143,000 bbls.
Our cut should have been $872,000. That really frosts me.
I'm not so sure. Everybody says they wont cut because ATLS needs the money. Well they already cut once from .19 to .10. So that argument is shot all to hell imho. I'm mentally preparing for cut to .025 and will be happy with anything over .04. With the ppu at 3.20 a .04 monthly distribution gives yield of 15%. Cant see why ARP would feel obligated to give out more than that regardless of how much they brought in. BTW, I'm holding a bunch of shares and waaaaaaaaaayyyyyyyyy under water.
1. No BK
2. Dist maintained, prolly a lower level
3. Well positioned, if oil/gas prices don't crater further.
4. Nice oil hedges, but that's been the case since last year and doesn't seem to have helped.
5. Unit price bottomed, finally.
My take may change after the call.