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Tel Offshore Trust Message Board

  • pythagoras570 pythagoras570 Jan 31, 2013 8:05 PM Flag

    Just putting this out there for discussion

    This is my first post. I’ve owned units of Telshore since 2007.

    According to the 10-Q filed on Nov 14 Arena Energy had begun drilling the new EI wells in August. Unfortunately the trust will only be receiving 1/3 of the revenues when they start producing. Arena will receive 2/3 for the redevelopment. The Cattleman (RNR) now owns 20% plus the 6.5% (in shares) he has purchased in the last six month. Check out the SC D13 dated 1/28 and the 8-K of Dec 21.

    I urge everyone invested to read the sec fillings and do their own due diligence.

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    • how come there are 5 replies but I can't see any of them?
      Can anyone else see the replies in this thread?

      • 1 Reply to lizahuang54321
      • Wondering where the replies are also.
        I would ask since Ship Shoal never stopped producing (other than repair and mintenance time) and the agreement was for developing Eugene shouldn't revenue raised from product harvested at Ship Soal still come it and the original lease agreements rather than the 1/3rd 2/3rd with Arena? Finally, does Ship Shoal holds between 40 to 60% of expected recoverable oil in the trust and Eugene would likewise then have the remainder 60 to 40% since Cameron has been closed so if half was never lost and the abandoment is done and some else is going to pay for the redevelopment (at a high price IMO) what is the bottom line on when the escrow is rebuilt and whatever other liabilities has to be addressed befor the fund is in the black again? The quarterly reports are the same thing everytime since IKE except the abandonment price keeps rising, that is now done so how about some enlightenment at the end of March.

        Sorry for the horrible grammar and repeaeting my pleas in every thread,.......... but inquiring minds want to know

        Sentiment: Hold

    • grant1865 Feb 1, 2013 6:53 PM Flag

      So... in your opinion... does this mean that although the 2008 days of $40 are unrealistic, it could hit $10-15 in the next two years? You've held it for a reason...

      Sentiment: Hold

      • 1 Reply to grant1865
      • I agree.

        The price of gas is too low; the trust has not had a distribution in many consecutive quarters, has been reduced by 1/3, is in debt and has been delisted. It is unrealistic at this time. But this trust has been delisted before and had a long period of no distributions all occurring several years before Ike. The resources are still in the ground. The Trusties, Chevron, Arena and the Cattleman believe there is a profit to be had. The next filing should be interesting. I would not take the advice of the earlier poster that recommended not wasting ones time.

        I urge everyone invested to read the sec fillings and do their own due diligence.