Oh wait, I thought you meant WHZ because WHZ is newer and will last for many years. But will face the same demise as WHX which you are talking about. WHX doesn't really pay 37%. There is a known amount of oil they can still sell under the bylaws of the WHX trust. Every dividend they pay reduces the amount they can pay in the future and thus reduces the amount of market value the market will support.
If oil prices go up more than today and stay there you could come out ahead. Ultimately you will lose all your principal and after each dividend you will lose that amount and it wont recover.
Does anyone remember WHZ? In a single day it dropped like 40% and then next day another 20%. Some people blamed the Seeking Alpha writer for pointing out the technical structure of the WHZ trust and how there were only X number of dividend payments left before the trust was liquidated. Either it was his spear head article or MANY other people knew it would happen. The issue here is that it all happened in 2 days. Who is to say when WHX crashes. If WHX will be around for 15 years than you should think about getting out at 14th year, but what if everyone get's out at 14th year? Then you miss the boat and should get out in 13th year, but then what if.... etc...
WHX is enticing. Albeit, people should know that is a trust which will expire and liquidate. One would have to follow it. Me thinks energy stocks are great.