Mesa Offshore Trust (fka MOSH)

[volenspros]

that's the 1.2 billion dollar question leb. what i found interesting is that the farmout agreement curiously and purposefully omitted a very important clause.

guess which one?

the clause that warranted title to the land / lease was omitted. typically, that's a standard inclusion wherein the party putting the deal together gives assurance to the other party that title is free and clear of defects or third parties who may interfere....

while wse may have been mislead a bit, one has to believe their lawyers wouldn't have been duped so easily and that they knew something was rotten in denmark. these guys are taking the only position they can right now - which is one of silence.

but to answer your question, i believe wse has grounds to sue pxd for screwing this deal up. it'll be fun to watch when the shooting starts and the allocation of liability gets passed around. let's see who takes how big a chunk.