Slips after scrapping Q2 distribution

MV Oil Trust

07/07/2020 13:01

** Shares of oil and gas statutory trust  MVO.N  slip 8.7%
to $3.58 in premarket trade
    ** Co, after market hours on Monday, said there will not be
any distribution of net profits for Q2 ended June 30
 urn:newsml:reuters.com:*:nFWN2ED0DO
    ** Revenue received from the underlying oil and gas
properties was not sufficient to cover the costs attributable to
these assets during Q2 - co
    ** Co also warned if crude prices remain at reduced levels,
subsequent distributions in 2020 would be substantially lower
than before, and in certain periods there may be no distribution
to unitholders
    ** Stock is down 38% YTD 
    
    

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))