Mesa Offshore Trust (fka MOSH)

[nsomniyak]

jumping in on point 2 - this may in fact be a positive. As I read it, PXD is in fact indemnifying a potential purchaser from assuming liability related to those properties that is specific to any resolution of the case being brought by MOSH Holdings.

To me this says two very important things:

1. PXD management is well aware of this case, enough to mention it in discussions of corporate asset sales. It is NOT under the radar of senior management.

2. PXD management is of the opinion that potential buyers (read: other oil biz professionals familiar with operations and claims in the Gulf of Mexico) are aware of the plaintiffs' case and are giving it some credence. This language only exists because PXD knows they will have a better market, and maybe get a higher price, with it in.