Final ValueIn answer to Mayertch
I don't know what distribution sensitivity is or how you calculated it. However I disagree with your bottomline.
If we take the prospectus #s of distribution of $1.92 at a gas price of $4.84 as a baseline then gas at $6 is an increment of $1.14/mcf.
At 100 mmscf/d production rate this comes to CF after royalties of
$41.6M, at 80% distribution rate this is $33.3m or $.84 for a total
of $2.76/trust unit. Remember operating costs were already considered in the original distribution.
As far as life of 5 or 6 years, I thought the trust gets a large land position which with their 20% of withheld distributions they will maintain production levels. I don't have their prospectus so I can't verify this.