Mesa Offshore Trust (fka MOSH)

[Steady_T]

Why would you want to reduce the number of people bidding?

The more bidders, the likelyhood of a better price increases.

Everyone talks about this being rigged or a steal.....The bidding process is open to all who wish to bid.....The highest bidder will win if the properties are sold.....

I agree that the preferred bidder clause has the effect of reducing the motivation of the preferred bidder to bid higher because in effect he gets to match the highest bid and win.

Even so, he still has to match the highest bid.

If these properties are as much as we suspect, there will be several serious bidders.