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Company:
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MARINE PETROLEUM TRUST (MARPS)
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Form Type:
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8-K
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Filing Date:
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11/20/2009
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CIK:
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0000062362
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Address:
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NATIONSBANK OF TEXAS N A
P O BOX 831402
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City, State, Zip:
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DALLAS, Texas 75283-1402
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Telephone:
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(214) 508-1796
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Fiscal Year:
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06/30
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Last Trade
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Last Trade:
$16.08
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Change:
0.0799 (0.50%)
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Trade Time:
Feb 09
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Market Cap:
$32.16M
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Description of Business
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Organization. Marine Petroleum Trust ("Marine") is a royalty trust that
was created in 1956 under the laws of the State of Texas. Marine is not
permitted to engage in any business activity because it was organized for the
sole purpose of providing an efficient, orderly, and practical means for the
administration and liquidation of rights to payments from certain oil and
natural gas leases in the Gulf of Mexico, pursuant to license agreements and
amendments thereto between Marine's predecessors and Gulf Oil Corporation
("Gulf"). As a result of various transactions that have occurred since 1956, the
Gulf interests are now held by Chevron Corporation ("Chevron"), Elf Exploration,
Inc. ("Elf"), and their assignees.
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