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Stocks Q / Qualstar Corporation


Subject:  Re: third quarter earnings update Date:  3/22/2001  8:55 AM
Author:  mrspindlelegs Number:  29 of 35


BPT is BP Prudoe Bay Royalty Trust. It is a very interesting vehicle. Read the 10-K posted here at the Fool for the specific details. What I can say is that it is a Trust that gets paid a royalty on somewhere around the first 92,000 barrels of oil pumped out of the Prudoe Bay oil fields. That royalty is tied to the price of oil per barrel. There is almost no overhead as the only costs of running the trust are administrative. The only risk really is if the price of oil drops real low (unlikely to happen in the future) an