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TEL Offshore Trust fka TELOZ RSS Feed

Followers
2
Posters
9
Posts (Today)
0
Posts (Total)
21
Created
12/31/07
Type
Free
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Introduction to the Trust

Tenneco Offshore Company, Inc. ("Tenneco Offshore") created the TEL Offshore Trust ("Trust") effective January 1, 1983, pursuant to the Plan of Dissolution ("Plan") approved by Tenneco Offshore's stockholders on December 22, 1982. In accordance with the Plan, the TEL Offshore Trust Partnership ("Partnership") was formed in which the Trust owns a 99.99% interest and Tenneco Oil Company ("Tenneco") initially owned a .01% interest. In general, the Plan was effected by transferring an overriding royalty interest ("Royalty") equivalent to a 25% net profits interest in the oil and gas properties (the "Royalty Properties") of Tenneco Exploration, Ltd. ("Exploration I") located offshore Louisiana to the Partnership and issuing certificates evidencing units of beneficial interest in the Trust ("Units") in liquidation and cancellation of Tenneco Offshore's common stock.

Basic DD, news, ratios, and other data are provided by FINVIZ.

Also, please read on their dividend policies. When the economy is good, so are the dividends!


Chart and Information

10Q: As of November 12, 2008—4,751,510 Units of Beneficial Interest in TEL Offshore Trust.


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