276077--3/28/2008--TIDELANDS_ROYALTY_TRUST

related topics

{interest, director, officer}

{tax, income, asset}

{loss, insurance, financial}

{operation, natural, condition}

{cost, contract, operation}

Operating risks for the working interest owners interests in the Royalty Area can adversely affect distributions. The owner of any properties in the Royalty Area may transfer any of the properties in the Royalty Area to another unrelated third party. The owner of any properties in the Royalty Area may abandon any property, terminating the related royalty interest Tidelands may hold. The Trustee, Tidelands and the Trust s unitholders do not control the operation or development of the properties in the Royalty Area and have little influence over operation or development. Important reserve and other information with respect to the particular leases subject to Tidelands royalty interest is difficult to obtain. Terrorism and continued geopolitical hostilities could adversely affect Tidelands distributions to its unitholders or the market price of its units. Unitholders have limited voting rights. The limited liability of the unitholders is uncertain. Tidelands royalty interest can be sold and the Trust can be terminated. The operators of the working interest owner are subject to extensive governmental regulation. If it is determined that the Trust is subject to the Texas franchise tax, the Trustee may have to withhold an amount from future distributions to pay any tax year 2007 tax liability.

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276077--3/28/2008--TIDELANDS_ROYALTY_TRUST_B