| Business Summary | | Marine
Petroleum
Trust
is
a
royalty
trust
that
is
not
permitted
to
engage
in
any
business
activity
inasmuch
as
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
gas
leases
in
the
Gulf
of
Mexico,
pursuant
to
license
agreements
and
amendments
thereto
between
Marine's
predecessors
and
Gulf
Oil
Corporation
(Gulf).
Marine
is
not
engaged
in
oil
and
gas
operations,
although
its
income
is
based
upon
such
operations
of
others.
As
a
result
of
various
transactions
that
have
occurred
since
1956,
the
Gulf
interests
now
are
held
by
Chevron
Corporation,
Elf
Exploration,
Inc.
and
their
assignees. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Marine
Petroleum
Trust
holds
interests
in
oil
and
gas
properties
in
the
Gulf
of
Mexico.
The
Company's
sole
purpose
is
the
administration
and
collection
of
royalties,
and
therefore
has
no
capital
requirements.
For
the
nine
months
ended
3/31/01,
total
revenues
rose
64%
to
$6.3
million.
Net
income
rose
65%
to
$6.1
million.
Revenues
reflect
an
increase
in
oil
and
gas
sales
and
higher
prices.
Earnings
also
reflect
lower
general
and
administrative
expenses
as
a
percentage
of
sales. | More
from
Market Guide: Significant
Developments |
| Officers | | | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
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