##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 Form 10-K
 þ
    
    Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for
the fiscal year ended June 30, 2005.
 OR
 o
    
    Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the
transition period from  to .
 Commission File No. 0-8565
 Marine Petroleum Trust
  Texas
    
    75-6008017(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)c/o The Corporate Trustee:Bank of America, N.A.P. O. Box 830241, Dallas, Texas
    
    75283-0241(Address of principal executive offices)
    
    (Zip Code)
 (800) 985-0794
 None
 Units of Beneficial Interest
  Yes þ No o
 þ
  Yes o No þ
  Yes o No þ
   None




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TABLE OF CONTENTS
 PagePART 1Item 1. Business
    
    2Item 2. Properties
    
    4Item 3. Legal Proceedings
    
    6Item 4. Submission of Matters to a Vote of Security Holders
    
    6PART IIItem 5. Market for Registrants Common Equity, Related Unitholder Matters and Issuer
Purchases of Equity Securities
    
    6Item 6. Selected Financial Data
    
    7Item 7. Managements Discussion and Analysis of Financial Condition and Results of
Operations
    
    7Item 7A. Quantitative and Qualitative Disclosures About Market Risk
    
    9Item 8. Financial Statements and Supplementary Data
    
    10Item 9. Change in and Disagreements with Accountants on Accounting and Financial
Disclosure
    
    10Item 9A. Controls and Procedures
    
    10Item 9B. Other Information
    
    10PART IIIItem 10. Directors and Executive Officers of the Registrant
    
    10Item 11. Executive Compensation
    
    11Item 12. Security Ownership of Certain Beneficial Owners and Management and Related
Unitholder Matters
    
    11Item 13. Certain Relationships and Related Transactions
    
    11Item 14. Principal Accountant Fees and Services
    
    11PART IVItem 15. Exhibits, Financial Statement Schedules
    
    12Certification Pursuant to Section 302Certification Pursuant to Section 302Certification Pursuant to Section 906Certification Pursuant to Section 906
  -1-




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ITEM 1. BUSINESS
 Organization
 th th
    Royalties
   -2-




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Years Ending June 30,Company
    
    2005
    
    2004
    
    2003Chevron/Texaco
    
    
    78
    %
    
    
    72
    %
    
    
    72
    %Century Exploration Company
    
    
    5
    %
    
    
    6
    %
    
    
    6
    %Houston Exploration Company
    
    
    3
    %
    
    
    3⁄4
    
    
    
    3⁄4Kerr-McGee
    
    
    2
    %
    
    
    3⁄4
    
    
    
    3⁄4Devon Energy Production Company
    
    
    2
    %
    
    
    4
    %
    
    
    4
    %BP America Production Company
    
    
    2
    %
    
    
    7
    %
    
    
    8
    %Samedan Oil Corporation
    
    
    3⁄4
    
    
    
    1
    %
    
    
    1
    %92
    %
    
    
    90
    %
    
    
    91
    %
   Trust Functions
     -3-




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ITEM 2. PROPERTIES
 General
 Reserves
    Production
 Year Ended June 30,2005
    
    
    2004
    
    
    2003Net Quantities SoldOil (in barrels (bbls))
    
    
    49,132
    
    
    
    62,158
    
    
    
    89,792Natural Gas (in thousands cubic feet (mcf))
    
    
    309,951
    
    
    
    474,871
    
    
    
    585,732Average PriceOil (per bbl)
    
    $
    46.02
    
    
    $
    31.32
    
    
    $
    24.64Natural Gas (per mcf)
    
    $
    6.29
    
    
    $
    4.98
    
    
    $
    4.60
  Productive Wells
 -4-




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Drilling Activity
 Year Ended June 30,2005
    
    2004
    
    2003DevelopmentOil
    
    
    20
    
    
    
    19
    
    
    
    16Natural Gas
    
    
    27
    
    
    
    36
    
    
    
    27Dry
    
    
    8
    
    
    
    1
    
    
    
    2Totals
    
    
    55
    
    
    
    56
    
    
    
    45
  Lease Acreage
 PrimaryLeases Granted by(1):
    
    Term(2)
    
    Producing
    
    TotalUnited States
    
    
    2,500
    
    
    
    247,854
    
    
    
    250,354State of Texas
    
    
    3⁄4
    
    
    
    640
    
    
    
    640State of Louisiana
    
    
    3⁄4
    
    
    
    4,890
    
    
    
    4,8902,500
    
    
    
    253,384
    
    
    
    255,884
 
 (1)
    
    Leases are typically granted for a term of five years, during which the lease owner
must establish a commercial production capability, or the lease expires. There are
3,958 acres located on leases that have commercial production, but the production is
not on Marines overriding royalty area within those leases.(2)
    
    The primary term is five (5) years. Expired Leases
   Present Activities
 Difficulty in Obtaining Certain Data
 -5-




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ITEM 3. LEGAL PROCEEDINGS
  
 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  
 ITEM
5. MARKET FOR REGISTRANTS COMMON EQUITY, RELATED UNITHOLDER MATTERS AND ISSUER PURCHASES OF
EQUITY SECURITIES
  Sales Price
    
    DistributionsQuarter Ending
    
    High
    
    Low
    
    Per UnitSeptember 30, 2004
    
    
    33.06
    
    
    
    28.46
    
    
    
    .645December 31, 2004
    
    
    31.98
    
    
    
    27.00
    
    
    
    .559March 31, 2005
    
    
    29.60
    
    
    
    24.66
    
    
    
    .542June 30, 2005
    
    
    31.90
    
    
    
    22.00
    
    
    
    .543September 30, 2003
    
    
    29.00
    
    
    
    23.50
    
    
    
    .778December 31, 2003
    
    
    32.49
    
    
    
    27.20
    
    
    
    .762March 31, 2004
    
    
    34.64
    
    
    
    29.50
    
    
    
    .557June 30, 2004
    
    
    31.99
    
    
    
    26.45
    
    
    
    .534
    -6-




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ITEM 6. SELECTED FINANCIAL DATA
 For Years Ended June 30,(In Thousands Except Per Unit Amounts)2005
    
    
    2004
    
    
    2003
    
    
    2002
    
    
    2001Statement
of Income and Undistributed Income Selected DataIncome:Oil and natural gas royalties
    
    $
    4,211
    
    
    $
    4,312
    
    
    $
    4,909
    
    
    $
    4,772
    
    
    $
    8,062Equity in Tidelands
    
    
    711
    
    
    
    288
    
    
    
    440
    
    
    
    235
    
    
    
    575Interest
    
    
    28
    
    
    
    24
    
    
    
    35
    
    
    
    52
    
    
    
    120$
    4,950
    
    
    $
    4,623
    
    
    $
    5,384
    
    
    $
    5,059
    
    
    $
    8,757Expenses:General and administrative
    
    $
    207
    
    
    $
    227
    
    
    $
    218
    
    
    $
    231
    
    
    $
    241Federal income taxes of subsidiary
    
    
    3
    
    
    
    
    
    
    
    7
    
    
    
    (19
    )
    
    
    34210
    
    
    
    227
    
    
    $
    225
    
    
    $
    212
    
    
    $
    275Net income
    
    $
    4,740
    
    
    $
    4,396
    
    
    $
    5,159
    
    
    $
    4,847
    
    
    $
    8,482Distributions
    
    $
    4,576
    
    
    $
    5,259
    
    
    $
    4,478
    
    
    $
    5,065
    
    
    $
    7,187Per Unit (2,000,000 outstanding)Net income
    
    $
    2.37
    
    
    $
    2.20
    
    
    $
    2.58
    
    
    $
    2.42
    
    
    $
    4.24Distributions
    
    $
    2.29
    
    
    $
    2.63
    
    
    $
    2.24
    
    
    $
    2.80
    
    
    $
    3.59Balance Sheet Selected DataTotal assets
    
    $
    2,948
    
    
    $
    2,916
    
    
    $
    3,779
    
    
    $
    3,098
    
    
    $
    3,874Trust equity
    
    $
    2,948
    
    
    $
    2,916
    
    
    $
    3,779
    
    
    $
    3,098
    
    
    $
    3,856
 
 ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 Critical Accounting Policies
 Results of Operations.
  Summary Review.
 -7-




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For the Years Ended June 30,2005
    
    2004
    
    2003Drilled
    
    
    55
    
    
    
    56
    
    
    
    45Producing
    
    
    320
    
    
    
    390
    
    
    
    381
  For Years Ended June 30,2005
    
    
    2004
    
    
    2003Income fromOil royalties
    
    $
    2,260,902
    
    
    $
    1,946,945
    
    
    $
    2,212,252Natural gas royalties
    
    $
    1,949,859
    
    
    $
    2,364,588
    
    
    $
    2,696,761Totals
    
    $
    4,210,761
    
    
    $
    4,311,533
    
    
    $
    4,909,013Net quantities soldOil (bbls)
    
    
    49,132
    
    
    
    62,158
    
    
    
    89,792Natural gas (mcf)
    
    
    309,951
    
    
    
    474,871
    
    
    
    585,732Average priceOil
    
    $
    46.02
    
    
    $
    31.32
    
    
    $
    24.64Natural gas
    
    $
    6.29
    
    
    $
    4.98
    
    
    $
    4.60
 Oil
and Gas Royalties  2005 and 2004
  Oil
and Gas Royalties  2004 and 2003
  -8-




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Weather
  Capital Resources and Liquidity
   
 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
     -9-




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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
  PageReport of Independent Registered Public Accounting Firm
    
    13Financial Statements:Consolidated Balance Sheets as of June 30, 2005 and 2004
    
    14Consolidated Statements of Income and Undistributed Income for the Three Years Ended June 30, 2005
    
    15Consolidated Statements of Cash Flows for the Three Years Ended June 30, 2005
    
    16Notes to Consolidated Financial Statements
    
    17
 Exhibits, Financial Statement Schedules and Reports on Form 8-K
  
 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
  
 ITEM 9A. CONTROLS AND PROCEDURES
   
 ITEM 9B. OTHER INFORMATION
  
 ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
   -10-




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th
  
 ITEM 11. EXECUTIVE COMPENSATION
  
 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED UNITHOLDER
MATTERS
  Amount and Nature ofName and Address
    
    Beneficial Ownership
    
    Percent of ClassRobert H. Paslay
    
    202,949 units
    
    10.1%1007 Gasserway CircleBrentwood, TN 37027Patricia Martin
    
    174,529 units
    
    8.7%2520 Whispering Oaks LaneDelray Beach, FL 33445
  
 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
  
 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
  2005
    
    2004Audit Fees
    
    
    32,250
    
    
    $
    30,000Audit-related Fees
    
    
    
    
    
    
    Tax Fees
    
    
    
    
    
    
    Other
    
    
    
    
    
    
    
  -11-




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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
    4.1
    
    Indenture, as amended on December 8, 2000, of Marine Petroleum
Trust, filed as Exhibit 4.1 to the Annual Report on Form 10-K of Marine for the
fiscal year ended June 30, 2001, and incorporated by reference herein.21.1
    
    Subsidiaries of Marine, filed as Exhibit 21.1 to the Annual
Report on Form 10-K of Marine for the fiscal year ended June 30, 2002, and
incorporated by reference herein.31.1
    
    Certification of the Principal Accounting Officer pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002.31.2
    
    Certification of the Corporate Trustee pursuant to Section 302
of the Sarbanes-Oxley Act of 2002.32.1
    
    Certification of the Principal Accounting Officer pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.32.2
    
    Certification of the Corporate Trustee pursuant to Section 906
of the Sarbanes-Oxley Act of 2002.
 -12-




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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
    /s/ KPMG LLP 
 -13-




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MARINE PETROLEUM TRUST AND SUBSIDIARY
 
 CONSOLIDATED BALANCE SHEETS
June 30, 2005 and 2004
 2005
    
    
    2004ASSETSCurrent assets:Cash and cash equivalents
    
    $
    1,171,006
    
    
    $
    1,202,855Oil and gas royalties receivable
    
    
    970,334
    
    
    
    965,995Receivables from affiliate
    
    
    205,500
    
    
    
    70,419State and federal taxes refundable
    
    
    
    
    
    
    578Interest receivable
    
    
    1,426
    
    
    
    2,134Total current assets
    
    
    2,348,266
    
    
    
    2,241,981Investment in U.S. Treasury and agency bonds
    
    
    200,000
    
    
    
    304,606Investment in affiliate
    
    
    530,349
    
    
    
    367,210Office equipment, at cost less accumulated depreciation
    
    
    2,400
    
    
    
    2,400Producing oil and gas properties
    
    
    7
    
    
    
    7$
    3,081,022
    
    
    $
    2,916,204
 LIABILITIES AND TRUST EQUITYCurrent
liabilities  Federal income taxes payable
    
    
    1,000
    
    
    
    Trust equityCorpus  authorized 2,000,000 units of
beneficial interest, issued 2,000,000 units
at nominal value
    
    
    8
    
    
    
    8Undistributed income
    
    
    3,080,014
    
    
    
    2,916,196Total trust equity
    
    
    3,080,022
    
    
    
    2,916,204$
    3,081,022
    
    
    $
    2,916,204
  -14-




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MARINE PETROLEUM TRUST AND SUBSIDIARY
 
 CONSOLIDATED STATEMENTS OF INCOME AND UNDISTRIBUTED INCOME
Three Years Ended June 30, 2005
 2005
    
    
    2004
    
    
    2003Income:Oil and gas royalties
    
    $
    4,210,761
    
    
    $
    4,311,533
    
    
    $
    4,909,013Equity in earnings of affiliate
    
    
    710,818
    
    
    
    287,991
    
    
    
    439,698Interest income
    
    
    28,201
    
    
    
    23,646
    
    
    
    34,9184,949,780
    
    
    
    4,623,170
    
    
    
    5,383,629Expenses:General and administrative
    
    
    207,170
    
    
    
    226,854
    
    
    
    217,953Income before Federal income taxes
    
    
    4,742,610
    
    
    
    4,396,316
    
    
    
    5,165,676Federal income taxes of subsidiary
    
    
    3,000
    
    
    
    
    
    
    
    7,000Net income
    
    
    4,739,610
    
    
    
    4,396,316
    
    
    
    5,158,676Undistributed income at beginning of year
    
    
    2,916,196
    
    
    
    3,779,351
    
    
    
    3,098,1837,655,806
    
    
    
    8,175,667
    
    
    
    8,256,859Distributions to unitholders
    
    
    4,575,792
    
    
    
    5,259,471
    
    
    
    4,477,508Undistributed income at end of year
    
    $
    3,080,014
    
    
    $
    2,916,196
    
    
    $
    3,779,351Net income per unit
    
    $
    2.37
    
    
    $
    2.20
    
    
    $
    2.58Distributions per unit
    
    $
    2.29
    
    
    $
    2.63
    
    
    $
    2.24
  -15-




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MARINE PETROLEUM TRUST AND SUBSIDIARY
 
 CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Years Ended June 30, 2005
 2005
    
    
    2004
    
    
    2003Cash flows from operating activities:Net income
    
    $
    4,739,610
    
    
    $
    4,396,316
    
    
    $
    5,158,676Adjustments to reconcile net income to net cash
provided by operating activities:Equity in undistributed earnings of affiliate
    
    
    (163,139
    )
    
    
    51,656
    
    
    
    (70,838
    )Amortization of premium
    
    
    4,606
    
    
    
    12,104
    
    
    
    13,517Change in assets and liabilities:Oil and gas royalties receivable
    
    
    (4,339
    )
    
    
    203,490
    
    
    
    (143,344
    )Receivables from affiliate
    
    
    (135,081
    )
    
    
    62,778
    
    
    
    (78,488
    )State & federal taxes refundable
    
    
    578
    
    
    
    (578
    )
    
    
    15,930Interest receivable
    
    
    708
    
    
    
    3,550
    
    
    
    (1,444
    )Income taxes payable
    
    
    1,000
    
    
    
    
    
    
    
    Net cash provided by operating
activities
    
    
    4,443,943
    
    
    
    4,729,316
    
    
    
    4,894,009Cash flows from investing activities Investment in U.S. Treasury and agency bonds
    
    
    
    
    
    
    (201,049
    )
    
    
    (203,385
    )Proceeds from sale of U.S. agency bonds
    
    
    100,000
    
    
    
    600,000
    
    
    
    200,000Net cash provided by (used in) investing activities
    
    
    100,000
    
    
    
    398,951
    
    
    
    (3,385
    )Cash flows used in financing activities 
distributions to unitholders
    
    
    (4,575,792
    )
    
    
    (5,259,471
    )
    
    
    (4,477,508
    )Net increase (decrease) in cash and cash equivalents
    
    
    (31,849
    )
    
    
    (131,204
    )
    
    
    413,116Cash and cash equivalents at beginning of period
    
    
    1,202,855
    
    
    
    1,334,059
    
    
    
    920,943Cash and cash equivalents at end of period
    
    $
    1,171,006
    
    
    $
    1,202,855
    
    
    $
    1,334,059
  -16-




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MARINE PETROLEUM TRUST AND SUBSIDIARY
 
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Three Years Ended June 30, 2005
 (1) Summary of Significant Accounting Policies
 (a) General
     (b) Principles of Consolidation
  (c) Producing Oil and Gas Properties
   (d) Undistributed Income
 th th
 (e) Federal Income Taxes
  -17-




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MARINE PETROLEUM TRUST AND SUBSIDIARY
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Three Years Ended June 30, 2005
    June 30, 2005
    
    
    June 30, 2004Deferred tax assetsNet operating loss carryforward
    
    $
    800
    
    
    $
    4,000Deferred tax liabilitiesIncome not yet recognized for income taxes
    
    
    (800
    )
    
    
    (4,000
    )Net deferred tax liability
    
    $
    
    
    
    $
    
   (f) Credit Risk Concentration and Cash Equivalents
   (g) Statements of Cash Flows
  (h) Fair Value of Financial Instruments
   -18-




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MARINE PETROLEUM TRUST AND SUBSIDIARY
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Three Years Ended June 30, 2005
 (i) Use of Estimates
  (j) Income Per Unit
  (k) Significant Royalty Sources
  2005
    
    2004
    
    2003Chevron/Texaco
    
    
    78
    %
    
    
    72
    %
    
    
    72
    %BP America Production Company
    
    
    2
    %
    
    
    7
    %
    
    
    8
    %Century Exploration Company
    
    
    5
    %
    
    
    6
    %
    
    
    6
    %Houston Exploration Company
    
    
    3
    %
    
    
    
    
    
    
    Devon Energy Production Company
    
    
    2
    %
    
    
    4
    %
    
    
    4
    %Others
    
    
    10
    %
    
    
    11
    %
    
    
    10
    %100
    %
    
    
    100
    %
    
    
    100
    %
 (2) Investment
in and Receivables from Affiliate  Tidelands Royalty Trust B
    2005
    
    
    2004Balance at beginning of year
    
    $
    367,210
    
    
    $
    418,866Equity in earnings of affiliate
    
    
    710,818
    
    
    
    287,991Distribution of earnings
    
    
    (547,679
    )
    
    
    (339,647
    )Balance at end of year
    
    $
    530,349
    
    
    $
    367,210
  -19-




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MARINE PETROLEUM TRUST AND SUBSIDIARY
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Three Years Ended June 30, 2005
  BALANCE SHEETS
 Assets
 June 30,2005
    
    
    2004Cash and cash equivalents
    
    $
    1,593,764
    
    
    $
    888,617Oil and gas royalties receivable
    
    
    444,358
    
    
    
    147,826Other
    
    
    201,366
    
    
    
    307,212$
    2,239,488
    
    
    $
    1,343,655
 Liabilities and Trust Equity
 2005
    
    
    2004Liabilities (including $598,638 and $215,056 payable to
unitholders in 2005 and 2004, respectively)
    
    $
    614,116
    
    
    $
    218,258Corpus
    
    
    2
    
    
    
    2Undistributed income
    
    
    1,625,370
    
    
    
    1,125,395$
    2,239,488
    
    
    $
    1,343,655
 Statements of Income
 Year ended June 30,2005
    
    
    2004
    
    
    2003Income
    
    $
    2,311,598
    
    
    $
    996,249
    
    
    $
    1,507,043Expenses
    
    
    128,962
    
    
    
    109,007
    
    
    
    159,391Income before Federal income taxes
    
    
    2,182,636
    
    
    
    887,242
    
    
    
    1,347,652Federal income taxes of Tidelands subsidiary
    
    
    13,601
    
    
    
    4,630
    
    
    
    100Net income
    
    $
    2,169,035
    
    
    $
    882,612
    
    
    $
    1,347,552
  -20-




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##### Table of Contents



MARINE PETROLEUM TRUST AND SUBSIDIARY
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Three Years Ended June 30, 2005
 (3) Summary of Quarterly Financial Data (Unaudited)
  Oil and gas
    
    
    
    
    
    
    Net
    
    
    Net incomeroyalties
    
    
    Expenses
    
    
    income
    
    
    per unitQuarter ended:September 30, 2004
    
    $
    1,065,738
    
    
    
    50,757
    
    
    
    1,097,267
    
    
    
    .55December 31, 2004
    
    
    867,694
    
    
    
    49,571
    
    
    
    1,001,737
    
    
    
    .50March 31, 2005
    
    
    1,014,572
    
    
    
    65,369
    
    
    
    1,166,557
    
    
    
    .58June 30, 2005
    
    
    1,262,757
    
    
    
    41,473
    
    
    
    1,474,049
    
    
    
    .74$
    4,210,761
    
    
    
    207,170
    
    
    
    4,739,610
    
    
    
    2.37Quarter ended:September 30, 2003
    
    $
    1,175,076
    
    
    
    41,664
    
    
    
    1,197,622
    
    
    
    .60December 31, 2003
    
    
    1,342,186
    
    
    
    72,000
    
    
    
    1,386,302
    
    
    
    .69March 31, 2004
    
    
    609,111
    
    
    
    68,524
    
    
    
    615,061
    
    
    
    .31June 30, 2004
    
    
    1,185,160
    
    
    
    44,666
    
    
    
    1,197,331
    
    
    
    .60$
    4,311,533
    
    
    
    226,854
    
    
    
    4,396,316
    
    
    
    2.20
 (4) Supplemental Information Relating to Oil and Gas Reserves (Unaudited)
  2005
    
    2004
    
    2003Marine:Oil (barrels)
    
    
    49,132
    
    
    
    62,158
    
    
    
    89,792Gas (mcf)
    
    
    309,951
    
    
    
    474,871
    
    
    
    585,732Tidelands:Oil (barrels)
    
    
    2,627
    
    
    
    2,524
    
    
    
    2,892Gas (mcf)
    
    
    94,703
    
    
    
    38,415
    
    
    
    84,726
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##### Table of Contents



SIGNATURES
  MARINE PETROLEUM TRUST
(Registrant)By:
    
    BANK OF AMERICA, N.A.in its capacity as trustee of MarinePetroleum Trust and not in itsindividual capacity or otherwiseDate: September 27, 2005
    
    
    
    By:
    
    /s/ RON E. HOOPERRon E. HooperSenior Vice President
  BANK OF AMERICA, N.A.in its capacity as trustee of Marine PetroleumTrust and not in its individual capacity or
otherwiseDated: September 27, 2005
    
    By:
    
    /s/ RON E. HOOPERRon E. HooperSenior Vice PresidentDated: September 27, 2005
    
    By:
    
    /s/ R. RAY BELLR. Ray BellPrincipal Accounting Officer
 -22-