Mesa Offshore Trust (fka MOSH)

[instructmba]

Not sure if I can add anything to this or not... but it appears for certain if we are to get anything out of this it will depend on the amount received for the two blocks WD61 and A-39 as mentioned last night. We start with 19 million and deduct the attorney fees and expenses which could be hefty.

The two big Plaintiff's seemed to have folded the cards by allowing the Trust to terminate with the auction. They left the Defendants off too cheap, and keeping the properties out of the picutre, it looks to me they are letting them get away with murder. Did Gibby run us out of money? Did Buzbee see no case?

I still hope to have a hearing on Friday and not sure if the Judge will even listen, but I want to know how MOSH LP thinks this is in the best interest of the unitholders. They took on and filed with the court "on behalf of all unitholders" and so have a duty to cut the best deal. Just too many unanswered questions... there is supposed to be plenty of NG and oil in Brazos A-39 but without the money it's gonna stay there.

Hope somebody is interested in those blocks.

19 million
-6 million for our attorneys and expenses

13 million divided by 72 = 18 cents plus whatever we get for the properties is my guess. Both MOSH LP and Dagger-Spine (if they have no other deal or plan we don't know about) have placed their bet on the outcome of the properties. We need 14 million for WD61 and A39 to break even at .33 in my silly estimate.

Plus, LEB owes me two beers because we ain't going to court.

BCNU
Instructmba