the basics, page-3

I have also held and followed this stock for many years. The forward issues which may weigh on holder's minds is that shortly the sole customer in Qenos moves from a fixed annual fee to a pay as you go based on actual volumes through the pipeline - so revenue becomes much more uncertain. Not necessarily lower - just more prone to fluctuation and with only one customer there is no customer mix to balance out any lower volumes from Qenos.

But epx is seemingly well run with minimal costs so distributions do seem to be holding up at this stage. Expect some uncertainty in fiscal 2014 as the business model changes.