MV Oil Trust Announces Trust First Quarter Distribution

MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2018.

Unitholders of record on April 16, 2018 will receive a distribution amounting to $4,197,500 or $0.365 per unit payable April 25, 2018.

Volumes, average price and net profits for the payment period were:

    
      
        
        
        
           
        
        
           
        
        
           
        
        
        
      
      
        
          Volume (BOE)
        
        
        
        
        
        
        
        
        
        
          186,118
        
        
        
      
      
        
          Average price (per BOE)
        
        
        
        
        
        
        
        
          $
        
        
          55.98
        
        
        
      
      
        
          Gross proceeds
        
        
        
        
        
        
        
        
          $
        
        
          10,419,609
        
        
        
      
      
        
          Costs
        
        
        
        
        
        
        
        
          $
        
        
          4,923,411
        
        
        
      
      
        
          Net profits
        
        
        
        
        
        
        
        
          $
        
        
          5,496,198
        
        
        
      
      
        
          Percentage applicable to Trust’s 80%
        
        
        
        
        
        
        
        
        
      
      
        
          Net profits interest
        
        
        
        
        
        
        
        
          $
        
        
          4,396,959
        
        
        
      
      
        
          MV Partners reserve for capital expenditures
        
        
        
        
        
        
        
        
          $
        
        
          --
        
        
        
      
      
        
          Total cash proceeds available for the Trust
        
        
        
        
        
        
        
        
          $
        
        
          4,396,959
        
        
        
      
      
        
          Provision for estimated Trust expenses
        
        
        
        
        
        
        
        
          $
        
        
          (199,459
        
        
          )
        
      
      
        
          Net cash proceeds available for distribution
        
        
        
        
        
        
        
        
          $
        
        
          4,197,500
        
        
        
      
      
        
        
        
        
        
        
        
        
        
           
        
      
    
    

This press release contains forward-looking statements. Although MV Partners, LLC has advised the Trust that MV Partners, LLC believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended March 31, 2018. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, and other risk factors described in the Trust’s Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.

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MV Oil TrustThe Bank of New York Mellon Trust Company, N.A., as TrusteeMichael Ulrich, 512-236-6599