Mesa Offshore Trust (fka MOSH)

[dmbao]

My understanding is that if the Trust fails to meet its required cash flow it is shut down (which is what Pioneer has been trying to achieve). In that case the assets if there are any (and there are) are sold off and the that money distributed to unit holders. It is Pioneers intention I think to have the trust close and buy the assets on the cheap since they really know how good they are.

The total market cap of the trust is 21 million or so, the assets may well be worth that or more in auction at todays energy prices. I really don't know but its not a total loss. a lease may be valuable even though its not producing anything today.