apostrophe, you ask:
"If it wasn't boilerplate, would almost sound like some kind of veiled threat. One implication would be, if they can adjust their figures anywhere they want, what would stop them from piling on more charges to make it come out negative? Are they just being "nice"? How likely is that?"
The answer is, pxd/Woodside chose the production numbers on Midway (and got their expert witness, Cobb, to design his report to agree to those low Midway evaluation numbers)in order to concoct their defense against the alleged "illegal farmout", that our trust was better off with the 5% ORRI than with the 50% WI, thus totaling eliminating the $1.2 billion monetary damages claimed by the plaintiffs. Afterall, our trust was spared of the $20 million+ E&D expense obligation, which would have bankrupted our trust.
Now, they can't "pile in more charges to make it come out negative", otherwise they'd logically have to plug and abandon Midway. So, they conveniently showed Midways production at the break-even point, i.e. just enough to recover our $40 million est. total E&D. They are in effect saying, "Midway would never have gotten the trust into a royalty payment status, anyway; so where's the monetary harm?"
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