After having some fun discussions on a Seeking Alpha article and some discussions on Twitter I decided to put together a very basic projection model for BP Prudhoe Bay Royalty Trust. I have no positions related to BPT at all and merely put the model together in case it may help some people think though possible future outcomes and analyze an investment in BPT.
January 31 UPDATE: Added additional Bullish Case to the model and made some other enhancements (explained in the pdf file).
(click to open and/or download a copy) BPT Projection Model 013114
(click to open and/or download a copy) BPT Projection Model Jan 2014 v2