Mesa Offshore Trust (fka MOSH)

[Lebaneseproud]

JPM made a critical mistake. JPM was in a bad enough position the way it was. But it appears they have made it worse. By giving PXD the green light to auction the properties they have made a huge and damaging blunder imho. Earlier in 2008 PXD proposed an auction but JPM objected and basically chose to wait until this lawsuit had ended. If they had stayed consistent in that position they may have appeared a little more consistent and reasonable to a jury but now they have endorsed such an auction and to add insult to injury they did so right on the eve of the trial! Its going to look bad, very bad. They have not done themselves any favor with this move and plaintiff attorneys will exploit this to the fullest at trial.

JPM also noted in the proposed auction that they maintain the right to reject any bid under a certain amount. What is this majic number and how did they arrive at it? I as a unitholder would love to know this answer and I hope the judge does as well. And im quite certain the plaintiffs attorney will want these answers at trial.