Mesa Offshore Trust (fka MOSH)

[downsideup]

"add all that together and the properties value/winning bid,
might satisfy the majority of unit holders"

I don't disagree... and was an advocate for settling when that was made possible at a fair price.

I think, IF they had made a valid effort in marketing the properties, that it is possible that the price they would be able to get at auction MIGHT be sufficient to meet the requirement for "fairness". I don't think the effort we SAW them make came anywhere close to enabling that result. Perhaps that result would have occurred anyway, in spite of their failures in marketing... but that isn't known.

I do think the potential is slipping away pretty rapidly now, if it is not already gone... even as a function of the growing obviousness in the differences that exist between pricing the properties as if THAT is in fact what is being priced in a threshold of fairness, instead of pricing the values they gain from settling.