923680--3/14/2008--DOMINION_RESOURCES_BLACK_WARRIOR

related topics

{interest, director, officer}

{loss, insurance, financial}

{operation, international, foreign}

{operation, natural, condition}

Terrorism and continued hostilities in the Middle East could decrease Trust distributions or the market price of the Units. Risks Related to the Trust and Ownership of the Units The assets of the Trust are depleting assets and, if the operators developing the Underlying Properties do not perform additional development projects, the assets may deplete faster than expected. Eventually, the assets of the Trust will cease to produce in commercial quantities and the Trust will cease to receive proceeds from such assets. In addition, a reduction in depletion tax benefits may reduce the market value of the Units. Unitholders and the Trustee have no influence over the operations on, or future development of, the Underlying Properties. The market price for the Units may not reflect the value of the Royalty Interests held by the Trust. The Company may transfer its interest in any Underlying Property without the consent of the Trust or the Unitholders. The obligations of HighMount Alabama to pay certain amounts if they are not paid by the Company may terminate upon a sale by the Company of its interests in the Underlying Properties or a sale by HighMount Alabama of its equity ownership interest in the Company. The Company may abandon the Underlying Properties, thereby terminating the related Royalty Interest payable to the Trust. The Royalty Interests can be sold and the Trust would be terminated. Unitholders have limited voting rights. Financial information of the Trust is not prepared in accordance with GAAP.

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923680--3/14/2008--DOMINION_RESOURCES_BLACK_WARRIOR_TRUST