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Strategies & Market Trends : Value Investing
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To: Sean Collett who wrote (78242)10/11/2025 2:27:25 PM
From: robert b furman  Read Replies (1) of 78451
 
Hi Sean,

I've been adding and selling with the seasonal swing of crude (which is weak in Q4 and weaker in Q1 on two non-operating oil companies. They buy up minority stakes in mineral rights

They keep low expenses in studying shale and natural gas deposits and buy up oil rights.

They distribute the cash flow out as dividends, which are taxed at low rates.

1) NOG: Northern Oil and Gas - the oldest and largest non-operating oil company. They have oil and Appalacian gas rights - which have been helping with the low crude pricing of late, It pays $1.80 annually.

VTS: Vitesse,- they have in Q 2 added two Canadian oil companies which had wealthy concentrated Canadian ownership plus American oil royalties in several shale areas.VTS. pays $2.25 in dividends.

Both have strong balance sheets and watch their Capex closely in times like now.

As they say: If crude gets low, we'll just keep it in the ground till the price gets right.

They both say crude in the mid 60's is very doable for having strong cash flow.

Would like your view, as I do not know many people who follow these.

Having lived in Tx since 1981, I know several wealthy Texans who have royalties. They often sell the land but keep the mineral rights that are under the ground. It a little discussed asset and the wealthy do not like to talk about them.

I'd appreciate any thoughts or views on these.

Bob
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