Source: http://www.docstoc.com/docs/22410615/Letter-Of-Transmittal---TEL-OFFSHORE-TRUST---1-28-1998
Timestamp: 2015-07-30 21:15:35
Document Index: 587850514

Matched Legal Cases: ['art 3', 'art 3', 'art 3', 'art 1', 'art 3', 'art 2', 'ART 3']

Letter Of Transmittal - TEL OFFSHORE TRUST - 1-28-1998 by TELOZ-Agreements
22410615
TELOZ-Agreements
LETTER OF TRANSMITTAL To Tender Units of Beneficial Interest of TEL OFFSHORE TRUST Pursuant to the Offer to Purchase Dated January 28, 1998 by MAGNUM HUNTER RESOURCES, INC. THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 27, 1998, UNLESS THE OFFER IS EXTENDED. The Depositary for the Offer is: SECURITIES TRANSFER CORPORATION By Mail: P.O. Box 701629 Dallas, Texas 75370 Attn: Stock Transfer By Facsimile: (For Eligible Institutions Only) (972) 248-4797 Confirm by Telephone: (972) 447-9890 By Hand/Overnight Courier: 16910 Dallas Parkway Suite 100 Dallas, Texas 75248 Attn: Stock Transfer DELIVERY OF THIS LETTER OF TRANSMITTAL TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE TRANSMISSION TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY. YOU MUST SIGN THIS LETTER OF TRANSMITTAL IN THE APPROPRIATE SPACE THEREFOR PROVIDED BELOW AND, TO AVOID BACKUP FEDERAL INCOME TAX WITHHOLDING, COMPLETE THE SUBSTITUTE FORM W-9 SET FORTH BELOW. THE INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL SHOULD BE READ CAREFULLY BEFORE THIS LETTER OF TRANSMITTAL IS COMPLETED. DESCRIPTION OF UNITS TENDERED
Name(s) and Address(es) of Registered Holder(s) (Please fill in, if blank, exactly as name(s) appear(s) on the Certificate(s)) ---------------------------------------------Unit Certificate Number(s)(1) -------------Number of Number of Units Units Represented by Tendered(2) Certificate(s)(1) ----------------- ---------------
Total Units --------------
Book-Entry Transfer.
Unless otherwise indicated, it will be assumed that all Units represented by Certificates delivered to the Depositary are being tendered. See Instruction 4. --------------------------------------------------------------------------------------------------
This Letter of Transmittal is to be completed by holders of Units (as defined below) of TEL Offshore Trust (the &quot;Unit holders&quot;) if certificates evidencing Units (&quot;Certificates&quot;) are to be forwarded with this Letter of Transmittal or if delivery of Units is to be made by book-entry transfer to an account maintained by Securities Transfer Corporation (the &quot;Depositary&quot;) at The Depository Trust Company (the &quot;Book-Entry Transfer Facility&quot; or &quot;DTC&quot;) pursuant to the procedures set forth in Section 3 of the Offer to Purchase (as defined below). Unit holders whose Certificates are not immediately available or who cannot deliver either their Certificates for, or a Book-Entry Confirmation (as defined in Section 3 of the Offer to Purchase) with respect to, their Units and all other required documents to the Depositary prior to the Expiration Date (as defined in Section 1 of the Offer to Purchase) may tender their Units according to the guaranteed delivery procedure set forth in Section 3 of the Offer to Purchase. See Instruction 2 hereof. Delivery of documents to the Book-Entry Transfer Facility does not constitute delivery to the Depositary. o CHECK HERE IF TENDERED UNITS ARE BEING DELIVERED BY BOOK-ENTRY TRANSFER MADE TO AN ACCOUNT MAINTAINED BY THE DEPOSITARY WITH THE BOOK-ENTRY TRANSFER FACILITY AND COMPLETE THE FOLLOWING (ONLY PARTICIPANTS IN THE BOOK-ENTRY TRANSFER FACILITY MAY DELIVER SHARES BY BOOK-ENTRY TRANSFER). Name of Tendering Institution:_____________________________________________ Account Number with DTC:___________________________________________________ Transaction Code Number:___________________________________________________ o CHECK HERE IF TENDERED UNITS ARE BEING DELIVERED PURSUANT TO A NOTICE OF GUARANTEED DELIVERY PREVIOUSLY SENT TO THE DEPOSITARY AND COMPLETE THE FOLLOWING. PLEASE ENCLOSE A PHOTOCOPY OF SUCH NOTICE OF GUARANTEED DELIVERY. Name(s) of Registered Holder(s):___________________________________________ Window Ticket Number (if any):_____________________________________________ Date of Execution of Notice of Guaranteed Delivery:________________________ Name of Institution Which Guaranteed Delivery:_____________________________ If delivered by book-entry transfer, check below:__________________________ o DTC Account Number with DTC:___________________________________________________ Transaction Code Number:___________________________________________________ 2
NOTE: SIGNATURE(S) MUST BE PROVIDED BELOW. PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY Ladies and Gentlemen: The undersigned hereby tenders to Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), the above-described Units of beneficial interest (the &quot;Units&quot;), of TEL Offshore Trust, a trust organized under the laws of Texas (the &quot;Trust&quot;), for $5.80 per Unit, net to the seller in cash, without interest thereon, upon the terms and subject to the conditions set forth in the Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;), receipt of which is hereby acknowledged, and in this Letter of Transmittal (which, together with any amendments or supplements hereto or thereto, constitute the &quot;Offer&quot;). The undersigned understands that Purchaser reserves
NOTE: SIGNATURE(S) MUST BE PROVIDED BELOW. PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY Ladies and Gentlemen: The undersigned hereby tenders to Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), the above-described Units of beneficial interest (the &quot;Units&quot;), of TEL Offshore Trust, a trust organized under the laws of Texas (the &quot;Trust&quot;), for $5.80 per Unit, net to the seller in cash, without interest thereon, upon the terms and subject to the conditions set forth in the Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;), receipt of which is hereby acknowledged, and in this Letter of Transmittal (which, together with any amendments or supplements hereto or thereto, constitute the &quot;Offer&quot;). The undersigned understands that Purchaser reserves the right to transfer or assign, in whole or from time to time in part, to one or more wholly owned subsidiaries of Purchaser, the right to purchase Units tendered pursuant to the Offer, but any such transfer or assignment will not prejudice the rights of tendering Unit holders to receive payment for Units validly tendered and accepted for payment pursuant to the Offer. Subject to, and effective upon, acceptance for payment of, or payment for, Units tendered with this Letter of Transmittal in accordance with the terms and subject to the conditions of the Offer (including, if the Offer is extended or amended, the terms or conditions of any such extension or amendment), the undersigned hereby sells, assigns and transfers to, or upon the order of, Purchaser all right, title and interest in and to all of the Units
NOTE: SIGNATURE(S) MUST BE PROVIDED BELOW. PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY Ladies and Gentlemen: The undersigned hereby tenders to Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), the above-described Units of beneficial interest (the &quot;Units&quot;), of TEL Offshore Trust, a trust organized under the laws of Texas (the &quot;Trust&quot;), for $5.80 per Unit, net to the seller in cash, without interest thereon, upon the terms and subject to the conditions set forth in the Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;), receipt of which is hereby acknowledged, and in this Letter of Transmittal (which, together with any amendments or supplements hereto or thereto, constitute the &quot;Offer&quot;). The undersigned understands that Purchaser reserves the right to transfer or assign, in whole or from time to time in part, to one or more wholly owned subsidiaries of Purchaser, the right to purchase Units tendered pursuant to the Offer, but any such transfer or assignment will not prejudice the rights of tendering Unit holders to receive payment for Units validly tendered and accepted for payment pursuant to the Offer. Subject to, and effective upon, acceptance for payment of, or payment for, Units tendered with this Letter of Transmittal in accordance with the terms and subject to the conditions of the Offer (including, if the Offer is extended or amended, the terms or conditions of any such extension or amendment), the undersigned hereby sells, assigns and transfers to, or upon the order of, Purchaser all right, title and interest in and to all of the Units that are being tendered hereby and any and all other Units or other securities issued or issuable in respect of such Units on or after January 28, 1998 (a &quot;Distribution&quot;), and irrevocably constitutes and appoints the Depositary the true and lawful agent and attorney-in-fact of the undersigned with respect to such Units (and any Distributions), with full power of substitution (such power of attorney being deemed to be an irrevocable power coupled with an interest), to (i) deliver Certificates evidencing such Units (and any Distributions), or transfer ownership of such Units (and all Distributions) on the account books maintained by the Book-Entry Transfer Facility together, in any such case, with all accompanying evidences of transfer and authenticity to, or upon the order of, Purchaser, upon receipt by the Depositary as the undersigned&#39;s agent, of the purchase price with respect to such Units; (ii) present such Units (and any Distributions) for transfer on the books of the Trust; and (iii) receive all benefits and otherwise exercise all rights of beneficial ownership of such Units (and any Distributions), all in accordance with the terms and subject to the conditions of the Offer. The undersigned hereby irrevocably appoints each designee of Purchaser as the attorney-in-fact and proxy of the undersigned, each with full power of substitution, to the full extent of the undersigned&#39;s rights with respect to all Units tendered hereby and accepted for payment and paid for by Purchaser (and any Distributions), including, without limitation, the right to vote such Units (and any Distributions) in such manner as each such attorney and proxy or his substitute shall, in his sole discretion, deem proper. All such powers of attorney and proxies, being deemed to be irrevocable, shall be considered coupled with an interest in the Units tendered with this Letter of Transmittal. Such appointment will be effective if, when, and only to the extent that, Purchaser accepts such Units for payment pursuant to the Offer. Upon such acceptance for payment, all prior powers of attorney, proxies and consents given by the undersigned with respect to such Units (and any Distributions) will be revoked, without further action, and no subsequent powers of attorneys and proxies may be given by the undersigned with respect thereto (and, if given, will be deemed ineffective). The designees of Purchaser will, with respect to the Units (and any Distributions) for which such appointment is effective, be empowered to exercise all voting and other rights of the undersigned with respect to such Units (and any Distributions) as they in their sole discretion may deem proper. Purchaser reserves the absolute right to require that, in order for Units to be deemed validly tendered, immediately upon the acceptance for payment of such Units, Purchaser or its designees are able to exercise full voting rights with respect to such Units (and any Distributions), including voting at any meeting of Unit holders then scheduled. All authority conferred or agreed to be conferred in this Letter of Transmittal shall be binding upon the successors, assigns, heirs, executors, administrators and legal representatives of the undersigned and shall not be affected by, and shall survive, the death or incapacity of the undersigned. Except as stated in the Offer to Purchase, this tender is irrevocable. 3
The undersigned hereby represents and warrants that the undersigned has full power and authority to tender, sell, assign and transfer the Units tendered hereby (and any Distributions), that the undersigned own(s) the Units tendered hereby within the meaning of Rule 14e-4 promulgated under the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), that such tender of Units complies with Rule 14e- 4 under the Exchange Act, and that, when the Units are accepted for payment and paid for by Purchaser, Purchaser will acquire good, marketable and unencumbered title thereto (and to any Distributions), free and clear of all liens, restrictions, charges and encumbrances, and that the Units tendered hereby (and any Distributions) will not be subject to any adverse claim. The undersigned, upon request, will execute and deliver any additional documents deemed by the Depositary or Purchaser to be necessary or desirable to complete the sale, assignment and transfer of Units tendered hereby (and any Distributions). In addition, the undersigned shall promptly remit and transfer to the Depositary for the account of Purchaser any and all Distributions issued to the undersigned on or after January 28, 1998, in respect of the Units tendered hereby, accompanied by appropriate documentation of transfer, and pending such remittance and transfer or appropriate assurance thereof, Purchaser shall be entitled to all rights and privileges as owner of any such Distributions and may withhold the entire purchase price or deduct from the purchase price the amount or value thereof, as determined by Purchaser in its sole discretion. The undersigned understands that the valid tender of Units pursuant to any one of the procedures described in Section 3 of the Offer to Purchase and in the instructions to this Letter of Transmittal will constitute a binding agreement between the undersigned and Purchaser with respect to such Units, upon the terms and subject to the conditions of the Offer. The undersigned recognizes that, under certain circumstances set forth in the Offer to Purchase, Purchaser may not be required to accept for payment any of the Units tendered hereby. Unless otherwise indicated in this Letter of Transmittal under &quot;Special Payment Instructions,&quot; please issue the check for the purchase price and return any Certificates evidencing Units not purchased or not tendered, in the name(s) of the registered holder(s) appearing under &quot;Description of Units Tendered.&quot; Similarly, unless otherwise indicated under &quot;Special Delivery Instructions,&quot; please mail the check for the purchase price of all Units purchased and return any Certificates evidencing Units not tendered or not purchased (and accompanying documents, as appropriate) to the address(es) of the registered holder(s) appearing under &quot;Description of Units Tendered.&quot; In the event that both the &quot;Special Payment Instructions&quot; and the &quot;Special Delivery Instructions&quot; are completed, please issue the check for the purchase price of all Units purchased and return any such Certificates evidencing Units not tendered or not purchased (and accompanying documents, as appropriate) in the name(s) of, and deliver such check and return such Certificates (and accompanying documents, as appropriate) to, the person(s) so indicated. Unless otherwise indicated in this Letter of Transmittal under &quot;Special Payment Instructions,&quot; in the case of a book-entry delivery of Units, please credit the account maintained by the undersigned at the Book-Entry Transfer Facility with respect to any Units not purchased. The undersigned recognizes that Purchaser has no obligation pursuant to the &quot;Special Payment Instructions&quot; to transfer any Units from the name of the registered holder(s) if Purchaser does not accept for payment any of the Units tendered hereby. 4
o CHECK HERE IF ANY OF THE CERTIFICATES EVIDENCING UNITS THAT YOU OWN HAVE BEEN LOST OR DESTROYED AND SEE INSTRUCTION 11. Number of Units represented by the lost or destroyed Certificates:__________
SPECIAL PAYMENT INSTRUCTIONS (See Instructions 1, 5, 6 and 7) To be completed ONLY if Certificates for Units not tendered or not purchased and/or the check for the purchase price of Units purchased are to be issued in the name of someone other than the undersigned, or if Units delivered by book-entry transfer that are not purchased are to be returned by credit to an account maintained at the BookEntry Transfer Facility, other than to the account indicated above. SPECIAL DELIVERY INSTRUCTIONS (See Instructions 1, 5, 6 and 7) To be completed ONLY if Certificate for Units not tendered or not purchased and/or the check for the purchase price Units purchased are to be sent to someon other than the undersigned or to the undersigned at an address other than tha shown above.
SPECIAL PAYMENT INSTRUCTIONS (See Instructions 1, 5, 6 and 7) To be completed ONLY if Certificates for Units not tendered or not purchased and/or the check for the purchase price of Units purchased are to be issued in the name of someone other than the undersigned, or if Units delivered by book-entry transfer that are not purchased are to be returned by credit to an account maintained at the BookEntry Transfer Facility, other than to the account indicated above. Issue Check and/or Certificate(s) to: Name: ______________________________________ (Please type or Print) Address: ____________________________________ ____________________________________ (Include Zip Code) (Tax Identification or Social Security No.) (Also complete Substitute Form W-9) Credit unpurchased Units delivered by book-entry transfer to the Book-Entry Transfer Facility account set forth below: Mail Check and/or Certificate(s) to: Name: __________________________________ (Please type or Print) Address:________________________________ ________________________________ (Include Zip Code) ________________________________ (Tax Identification or Social Security N SPECIAL DELIVERY INSTRUCTIONS (See Instructions 1, 5, 6 and 7) To be completed ONLY if Certificate for Units not tendered or not purchased and/or the check for the purchase price Units purchased are to be sent to someon other than the undersigned or to the undersigned at an address other than tha shown above.
___________________________________ (DTC Account Number)
INSTRUCTIONS Forming Part of the Terms and Conditions of the Offer 1. Guarantee of Signatures. Except as otherwise provided below, no signature guarantee is required on this Letter of Transmittal (a) if this Letter of Transmittal is signed by the registered holder(s) (which term, for the purposes of this document, includes any participant in the Book-Entry Transfer Facility&#39;s system whose name appears on a security position listing as the owner of the Units) of Units tendered herewith and such registered holder has not completed either the box entitled &quot;Special Delivery Instructions&quot; or the box entitled &quot;Special Payment Instructions&quot; on this Letter of Transmittal or (b) if such Units are tendered for the account of a financial institution (including most commercial banks, savings and loan associations and brokerage houses) that is a participant in the Security Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Guarantee Program or the Stock Exchange Medallion Program (an &quot;Eligible Institution&quot;). In all other cases, all signatures on the Letter of Transmittal must be guaranteed by an Eligible Institution. See Instruction 5. If the Certificates are registered in the name of a person other than the signer of this Letter of Transmittal, or if payment is to be made or delivered to, or Certificates evidencing unpurchased Units are to be issued or returned to, a person other than the registered owner, then the tendered Certificates must be endorsed or accompanied by duly executed stock powers, in either case signed exactly as the name or names of the registered owner or owners appear on the Certificates, with the signatures on the Certificates or stock powers guaranteed by an Eligible Institution as provided in this Letter of Transmittal. See Instruction 5. 2. Requirements of Tender. This Letter of Transmittal is to be completed by Unit holders if Certificates evidencing Units are to be forwarded with this Letter of Transmittal or if delivery of Units is to be made pursuant to the procedures for book-entry transfer set forth in Section 3 of the Offer to Purchase. For a Unit holder to validly tender Units pursuant to the Offer, either (a) a properly completed and duly executed Letter of Transmittal
INSTRUCTIONS Forming Part of the Terms and Conditions of the Offer 1. Guarantee of Signatures. Except as otherwise provided below, no signature guarantee is required on this Letter of Transmittal (a) if this Letter of Transmittal is signed by the registered holder(s) (which term, for the purposes of this document, includes any participant in the Book-Entry Transfer Facility&#39;s system whose name appears on a security position listing as the owner of the Units) of Units tendered herewith and such registered holder has not completed either the box entitled &quot;Special Delivery Instructions&quot; or the box entitled &quot;Special Payment Instructions&quot; on this Letter of Transmittal or (b) if such Units are tendered for the account of a financial institution (including most commercial banks, savings and loan associations and brokerage houses) that is a participant in the Security Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Guarantee Program or the Stock Exchange Medallion Program (an &quot;Eligible Institution&quot;). In all other cases, all signatures on the Letter of Transmittal must be guaranteed by an Eligible Institution. See Instruction 5. If the Certificates are registered in the name of a person other than the signer of this Letter of Transmittal, or if payment is to be made or delivered to, or Certificates evidencing unpurchased Units are to be issued or returned to, a person other than the registered owner, then the tendered Certificates must be endorsed or accompanied by duly executed stock powers, in either case signed exactly as the name or names of the registered owner or owners appear on the Certificates, with the signatures on the Certificates or stock powers guaranteed by an Eligible Institution as provided in this Letter of Transmittal. See Instruction 5. 2. Requirements of Tender. This Letter of Transmittal is to be completed by Unit holders if Certificates evidencing Units are to be forwarded with this Letter of Transmittal or if delivery of Units is to be made pursuant to the procedures for book-entry transfer set forth in Section 3 of the Offer to Purchase. For a Unit holder to validly tender Units pursuant to the Offer, either (a) a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile), with any required signature guarantees and any other required documents, must be received by the Depositary at one of its addresses set forth in this Letter of Transmittal on or prior to the Expiration Date (as defined in the Offer to Purchase) and either (i) Certificates for tendered Units must be received by the Depositary at one of those addresses on or prior to the Expiration Date or (ii) Units must be delivered pursuant to the procedures for book-entry transfer set forth in Section 3 of the Offer to Purchase and a Book-Entry Confirmation must be received by the Depositary on or prior to the Expiration Date or (b) the tendering Unit holder must comply with the guaranteed delivery procedures set forth below and in Section 3 of the Offer to Purchase. Unit holders whose Certificates are not immediately available or who cannot deliver their Certificates and all other required documents to the Depositary or complete the procedures for book-entry transfer on or prior to the Expiration Date may tender their Units by properly completing and duly executing a Notice of Guaranteed Delivery pursuant to the guaranteed delivery procedures set forth in Section 3 of the Offer to Purchase. Pursuant to such procedure: (i) tender must be made by or through an Eligible Institution, (ii) a properly completed and duly executed Notice of Guaranteed Delivery, substantially in the form made available by Purchaser, must be received by the Depositary prior to the Expiration Date, and (iii) Certificates representing all tendered Units in proper form for transfer, or a Book-Entry Confirmation with respect to all the tendered Units, together with a Letter of Transmittal (or a manually signed facsimile thereof), properly completed and duly executed, with any required signature guarantees or an Agent&#39;s Message (as defined in Section 2 of the Offer to Purchase) in connection with a book-entry transfer and any other documents required by this Letter of Transmittal, must be received by the Depositary within three American Stock Exchange, Inc. trading days after the date of such Notice of Guaranteed Delivery. If Certificates are forwarded separately to the Depositary, a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile) must accompany each delivery. The method of delivery of Certificates, this Letter of Transmittal and any other required documents, including delivery through the Book-Entry Transfer Facility, is at the option and sole risk of the tendering Unit holder and the delivery will be deemed made only when actually received by the Depositary. If delivery is by mail, registered mail with return receipt requested, properly insured, is recommended. In all cases, sufficient time should be allowed to ensure timely delivery. 6
No alternative, conditional or contingent tenders will be accepted and no fractional Units will be purchased. All
No alternative, conditional or contingent tenders will be accepted and no fractional Units will be purchased. All tendering Unit holders, by execution of this Letter of Transmittal (or a facsimile), waive any right to receive any notice of the acceptance of their Units for payment. 3. Inadequate Space. If the space provided in this Letter of Transmittal is inadequate, the information required under &quot;Description of Units Tendered&quot; should be listed on a separate signed schedule attached to this Letter of Transmittal. 4. Partial Tenders. If fewer than all of the Units represented by any Certificates delivered to the Depositary with this Letter of Transmittal are to be tendered, fill in the number of Units which are to be tendered in the box entitled &quot;Number of Units Tendered.&quot; In such cases, a new Certificate for the untendered Units that were evidenced by your old Certificate(s), together with any tendered Units evidenced by such Certificates that were not purchased, will be sent, without expense, to the person(s) signing this Letter of Transmittal, unless otherwise provided in the box entitled &quot;Special Payment Instructions&quot; or the box entitled &quot;Special Delivery Instructions&quot; on this Letter of Transmittal, as soon as practicable after the expiration or termination of the Offer. All Units represented by Certificate(s) delivered to the Depositary will be deemed to have been tendered unless otherwise indicated. 5. Signatures on Letter of Transmittal, Instruments of Transfer and Endorsements. If this Letter of Transmittal is signed by the registered holder(s) of the Units tendered hereby, the signature(s) must correspond exactly with the name(s) as written on the face of the Certificate(s) without alteration, enlargement or any change whatsoever. If any of the Units tendered hereby are owned of record by two or more persons, all such persons must sign this Letter of Transmittal. If any of the Units tendered hereby are registered in different names on several Certificates, it will be necessary to complete, sign and submit as many separate Letters of Transmittal as there are different registrations of Certificates. If this Letter of Transmittal or any Certificates or instruments of transfer are signed by a trustee, executor, administrator, guardian, attorney-in-fact, officer of a corporation or other person acting in a fiduciary or representative capacity, that person should so indicate when signing, and proper evidence satisfactory to Purchaser of that person&#39;s authority to so act must be submitted. If this Letter of Transmittal is signed by the registered holder(s) of the Units listed and transmitted hereby, no endorsements of Certificates or separate instruments of transfer are required unless payment is to be made, or Certificates not tendered or not purchased are to be issued or returned, to a person other than the registered holder(s). Signatures on the Certificates or instruments of transfer must be guaranteed by an Eligible Institution. If this Letter of Transmittal is signed by a person other than the registered holder(s) of the Units evidenced by the Certificate(s) listed and transmitted hereby, the Certificate(s) must be endorsed or accompanied by appropriate instruments of transfer, in either case signed exactly as the name(s) of the registered holder(s) appear on the Certificate(s). Signatures on the Certificate(s) or instruments of transfer must be guaranteed by an Eligible Institution. 6. Transfer Taxes. Except as set forth in this Instruction 6, Purchaser will pay or cause to be paid any transfer taxes with respect to the transfer and sale of Units to it or its order pursuant to the Offer. If, however, payment of the purchase price of any Units purchased is to be made to, or (in the circumstances permitted hereby) if Certificates for Units not tendered or not purchased are to be registered in the name of, any person other than the registered holder(s), or if tendered Certificates are registered in the name of any person other than the person(s) signing this Letter of Transmittal, the amount of any transfer taxes (whether imposed on the registered holder(s), such other person or otherwise) payable on account of the transfer to such other person will be deducted from the purchase price of such Units purchased, unless evidence satisfactory to Purchaser of the payment of such taxes or exemption therefrom is submitted. Except as 7
provided in this Instruction 6, it will not be necessary for transfer tax stamps to be affixed to the Certificate(s) listed in this Letter of Transmittal. 7. Special Payment and Delivery Instructions. If a check for the purchase price of any Units tendered hereby is to be issued, or a Certificate evidencing Units not tendered or not purchased is to be issued in the name of a person other than the persons signing this Letter of Transmittal or if such check or any such Certificate is to be sent to someone other than the persons signing this Letter of Transmittal or to an address other than that shown above, the appropriate boxes on this Letter of Transmittal must be completed. If any tendered Units are not purchased for any reason and the Units are delivered by the Book-Entry Transfer Facility, the Units will be credited to an account maintained at the Book-Entry Transfer Facility. 8. Requests for Assistance or Additional Copies. Questions and requests for assistance may be directed to the Information Agent (as defined below) at its address or telephone number set forth below and requests for additional copies of the Offer to Purchase, this Letter of Transmittal, the Notice of Guaranteed Delivery and the Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9 may be directed to the Information Agent or brokers, dealers, commercial banks and trust companies and such materials will be furnished at Purchaser&#39;s expense. 9. Waiver of Conditions. The conditions of the Offer may be waived by Purchaser, in whole or in part, at any time or from time to time, in Purchaser&#39;s sole discretion. 10. Substitute Form W-9. Under U.S. federal income tax law, each tendering Unit holder is required to provide the Depositary with such holder&#39;s correct taxpayer identification number (&quot;TIN&quot;) on Substitute Form W-9, which is provided below. If the Unit holder is an individual, the TIN is his or her Social Security number. If the Depositary is not provided with the correct TIN, the Internal Revenue Service (the &quot;IRS&quot;) may subject the Unit holder or other payee to a $50 penalty and to 31% federal income tax withholding on the payment of the purchase price for the Units. To prevent backup withholding on any payment made to a Unit holder or other payee pursuant to the Offer, the Unit holder is required to notify the Depositary of the holder&#39;s current TIN (or the TIN of any other payee) by completing the form below, certifying that the TIN provided on Substitute Form W-9 is correct (or that such holder is awaiting a TIN) and that (i) the Unit holder is exempt from backup withholding, (ii) the Unit holder has not been notified by the IRS that the Unit holder is subject to backup withholding as a result of failure to report all interest or dividends or (iii) the IRS has notified the Unit holder that the holder is no longer subject to backup withholding. The box in Part 3 of the Substitute Form W-9 should be checked if the tendering Unit holder has not been issued a TIN and has applied for a TIN or intends to apply for a TIN in the near future. If the box in Part 3 is checked, the holder must also complete the Certificate of Awaiting Taxpayer Identification Number below in order to avoid backup withholding. Notwithstanding that the box in Part 3 has been checked and the Certificate of Awaiting Taxpayer Identification Number has been completed, if the Depositary is not provided a TIN by the time of payment, the Depositary will withhold 31% of all payments of the purchase price made pursuant to the Offer until a TIN is provided to the Depositary. The Unit holder is required to give the Depositary the TIN of the record owner of the Units. If the Units are registered in more than one name or are not in the name of the 8
actual owner, consult the enclosed &quot;Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9&quot; for additional guidance on which number to report. Certain Unit holders (including, among others, corporations and certain foreign persons) are not subject to these backup withholding and reporting requirements. Such holders may nevertheless complete the attached Substitute Form W-9 below and write &quot;exempt&quot; on the face thereof to avoid possible erroneous backup withholding. A NonU.S. Unit holder may qualify as an exempt recipient by submitting to the Depositary a properly completed IRS Form W-8 signed under penalties of perjury attesting to its exempt status. A Form W-8 may be obtained
actual owner, consult the enclosed &quot;Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9&quot; for additional guidance on which number to report. Certain Unit holders (including, among others, corporations and certain foreign persons) are not subject to these backup withholding and reporting requirements. Such holders may nevertheless complete the attached Substitute Form W-9 below and write &quot;exempt&quot; on the face thereof to avoid possible erroneous backup withholding. A NonU.S. Unit holder may qualify as an exempt recipient by submitting to the Depositary a properly completed IRS Form W-8 signed under penalties of perjury attesting to its exempt status. A Form W-8 may be obtained from the Depositary. Please consult the enclosed &quot;Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9&quot; for additional guidance on which Unit holders are exempt from backup withholding. If backup withholding applies, the Depositary is required to withhold 31% of any payment paid to the Unit holder or other payee. Backup withholding is not an additional U.S. federal income tax. Rather, the U.S. federal income tax liability of a person subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of tax, a refund may be obtained from the IRS provided the required information is furnished. Purchaser and Depositary reserve the right in their sole discretion to take whatever steps are necessary to comply with their obligations regarding backup withholding. 11. Lost or Destroyed Certificates. If any Certificate(s) representing Units has been lost or destroyed, the Unit holder should promptly notify the Depositary by checking the box immediately preceding the special payment/special delivery instructions and indicating the number of Units lost or destroyed. The Unit holders will then be instructed as to the steps that must be taken in order to replace the Certificate(s). This Letter of Transmittal and related documents cannot be processed until the procedures for replacing lost or destroyed Certificates have been followed. Important: This Letter of Transmittal or a manually signed facsimile (together with Certificates or a Book-Entry Confirmation for Units and any other required documents) must be received by the Depositary, or a Notice of Guaranteed Delivery must be received by the Depositary, on or prior to the Expiration Date. 9
IMPORTANT Unit holder: SIGN HERE AND COMPLETE SUBSTITUTE FORM W-9 ON REVERSE (Signature(s) of Unit holder(s)) (Signature(s) of Unit holder(s)) Dated: ..................................., 1998 (Must be signed by the registered holder(s) exactly as name(s) appear(s) on the Certificate or on a security position listing or by person(s) authorized to become registered holder(s) by Certificates and documents transmitted herewith. If signature is by trustees, executors, administrators, guardians, attorneys-in-fact, agents, officers or corporations or others acting in a fiduciary or representative capacity, please provide the following information. See Instruction 5.) Name(s) ............................................................ ............................................................
(Please Type or Print) Capacity (Full Title)................................................... (See Instruction 5) Address ............................................................ ............................................................
(Include Zip Code) Daytime Area Code and Telephone Number ................................ (Home) ................................ (Business) Taxpayer Identification or Social Security No. ........................
(Complete Substitute Form W-9 on Reverse Side) GUARANTEE OF SIGNATURE(S) (See Instructions 1 and 5) ...................................................................
(Authorized Signature(s)) ....................................................................
(Name) ....................................................................
(Name of Firm) .................................................................... ....................................................................
(Address Including Zip Code) ....................................................................
(Area Code and Telephone Number) Dated: ..................................., 1998 10
PAYER&#39;S NAME: Securities Transfer Corporation PAYEE&#39;S NAME:__________________________________________________________________ BUSINESS NAME (IF DIFFERENT):__________________________________________________ ADDRESS:_______________________________________________________________________ MARK APPROPRIATE BOX: SUBSTITUTE Form W-9 Individual/Sole Proprietor Part 1-PLEASE PROVIDE YOUR TIN IN THE BOX AT RIGHT AND CERTIFY BY SIGNING AND DATING BELOW. OR Corporation Partnership ____________ Social Secur ____________ Employer Id Numb Part 3Awaiting TIN |_|
Part 2Certification - Under Penalties of Perjury, I certify that: (1) The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued for me), and (2) I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding.
Payer&#39;s Request for Taxpayer identification Number (&quot;TIN&quot;)
Certification Instructions - You must cross out item (2) above notified by the IRS that you are currently subject to backup wit you have failed to report all interest or dividends on your tax SIGNATURE --------------------------------------DATE -----------------------
FAILURE TO COMPLETE AND RETURN THIS FORM MAY RESULT IN A $50 PENALTY IMPOSED BY THE INTERNAL REVENUE SERVICE AND BACKUP WITHHOLDING OF 31% OF ANY PAYMENTS MADE TO YOU PURSUANT TO THE OFFER TO PURCHASE. PLEASE REVIEW THE ENCLOSED GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9 FOR ADDITIONAL DETAILS.
FAILURE TO COMPLETE AND RETURN THIS FORM MAY RESULT IN A $50 PENALTY IMPOSED BY THE INTERNAL REVENUE SERVICE AND BACKUP WITHHOLDING OF 31% OF ANY PAYMENTS MADE TO YOU PURSUANT TO THE OFFER TO PURCHASE. PLEASE REVIEW THE ENCLOSED GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9 FOR ADDITIONAL DETAILS. YOU MUST COMPLETE THE FOLLOWING CERTIFICATE IF YOU PART 3 OF THE SUBSTITUTE FORM W-9. CHECKED THE BOX IN
CERTIFICATE OF AWAITING TAXPAYER IDENTIFICATION NUMBER I certify under penalties of perjury that a taxpayer identification number has not been issued to me, and either (1) I have mailed or delivered an application to receive a taxpayer identification number to the appropriate Internal Revenue Service Center or Social Security Administration office or (2) I intend to mail or deliver an application in the near future. I understand that if I do not provide a taxpayer identification number by the time of payment, 31% of all payments of the purchase price made to me pursuant to the Offer thereafter will be withheld until I provide a taxpayer identification number. SIGNATURE DATE 11
The Information Agent for the Offer is: Corporate Investor Communications, Inc. 111 Commerce Road o Carlstadt, New Jersey 07072-2586
The Information Agent for the Offer is: Corporate Investor Communications, Inc. 111 Commerce Road o Carlstadt, New Jersey 07072-2586 Banks and Brokers call toll-free (800) 346-7885 All others call toll-free (800) 206-9438 January 28, 1998
Notice of Guaranteed Delivery for Tender of Units of Beneficial Interest of TEL Offshore Trust THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 27, 1998, UNLESS THE OFFER IS EXTENDED. This Notice of Guaranteed Delivery or a notice substantially equivalent hereto must be used to accept the Offer (as defined below) if certificates representing the Units of beneficial interest (the &quot;Units&quot;), of TEL Offshore Trust, a trust organized under the laws of Texas, are not immediately available or the procedure for book-entry transfer cannot be completed on a timely basis or time will not permit all required documents to reach Securities Transfer Corporation (the &quot;Depositary&quot;) prior to the Expiration Date (as defined in the Offer to Purchase). This Notice of Guaranteed Delivery may be delivered by hand or transmitted by facsimile transmission or mail to the Depositary. See Section 3 of the Offer to Purchase. The Depositary for the Offer is: SECURITIES TRANSFER CORPORATION
By Mail: P.O. Box 701629 Dallas, Texas 75370 Attn: Stock Transfer By Facsimile: (For Eligible Institutions Only) (972) 248-4797 Confirm by Telephone: (972) 447-9890 By Hand/Overnight Courier: 16910 Dallas Parkway, Suite 100 Dallas, Texas 75248 Attn: Stock Transfer
DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE TRANSMISSION TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY. This Notice of Guaranteed Delivery is not to be used to guarantee signatures. If a signature on a Letter of Transmittal is required to be guaranteed by an &quot;Eligible Institution&quot; under the instructions thereto, such signature guarantee must appear in the applicable space provided in the signature box on the Letter of Transmittal. The Eligible Institution that completes this form must communicate the guarantee to the Depositary and must deliver the Letter of Transmittal and certificates for Units to the Depositary within the time period shown herein. Failure to do so could result in a financial loss to the Eligible Institution. THE GUARANTEE ON THE REVERSE SIDE MUST BE COMPLETED
Ladies and Gentlemen: The undersigned hereby tenders to Magnum Hunter Resources, Inc., a Nevada corporation, upon the terms and subject to the conditions set forth in the Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;), and in the related Letter of Transmittal (which, together with any amendments or supplements thereto, constitute the &quot;Offer&quot;), receipt of each of which is hereby acknowledged, the number of Units indicated below pursuant to the guaranteed delivery procedures set forth in Section 3 of the Offer to Purchase.
Number of Units Tendered:__________ Name(s) of Record Holder(s) _______
Number of Units Tendered:__________ --------------------------------Certificate Nos. (if available):________ ----------------------------------Check box below if Units will be tendered by book-entry transfer: Name(s) of Record Holder(s) _______
----------------------------------(Please Type or Print) Address(es)_________________________ -----------------------------------(Zip Code) Area Code and Tel. No.:_____________
|-| Account Number:__________________
Signature(s):_______________________ ____________________________________
Date:_____________________, 1998 THE GUARANTEE SET FORTH BELOW MUST BE COMPLETED GUARANTEE (Not to be used for signature guarantee) The undersigned, an Eligible Institution (as such term is defined in Section 3 of the Offer to Purchase), hereby (a) represents that the above-named person(s) &quot;own(s)&quot; the Units tendered hereby within the meaning of Rule 14e-4 under the Securities Exchange Act of 1934, as amended (&quot;Rule 14e-4&quot;), (b) represents that the tender of Units effected hereby complies with Rule 14e-4, and (c) guarantees the delivery to the Depositary of the certificates evidencing the Units tendered hereby, in proper form for transfer, or a Book-Entry Confirmation (as defined in Section 3 of the Offer to Purchase) with respect to such Units, in either case together with a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof), with any required signature guarantees, or an Agent&#39;s Message (as defined in Section 2 of the Offer to Purchase) in connection with a book-entry transfer, and any other documents required by the Letter of Transmittal, all within three American Stock Exchange, Inc. trading days after the date hereof.
Name of Firm:___________________ Address:________________________ ________________________________ (Zip Code) Area Code and Tel. No. :________ Date:_____________________________ ___________________________________ (Authorized Signature) Name: ___________________________ (Please Type or Print) Title: __________________________
NOTE: DO NOT SEND CERTIFICATES EVIDENCING UNITS WITH THIS NOTICE OF GUARANTEED DELIVERY. CERTIFICATES FOR UNITS SHOULD ONLY BE SENT TOGETHER WITH YOUR LETTER OF TRANSMITTAL.
Offer to Purchase for Cash 2,261,770 Units of Beneficial Interest of TEL OFFSHORE TRUST
Offer to Purchase for Cash 2,261,770 Units of Beneficial Interest of TEL OFFSHORE TRUST at $5.80 Net Per Unit by MAGNUM HUNTER RESOURCES, INC. THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 27, 1998, UNLESS THE OFFER IS EXTENDED. January 28, 1998 TO: BROKERS, DEALERS, BANKS, TRUST COMPANIES AND OTHER NOMINEES: We have been appointed by Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), to act as Information Agent in connection with its offer to purchase 2,261,770 Units of beneficial interest (the &quot;Units&quot;) of TEL Offshore Trust, a trust created under the laws of the State of Texas (the &quot;Trust&quot;), or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase, at a price of $5.80 per Unit, net to the seller in cash, upon the terms and subject to the conditions set forth in the Purchaser&#39;s Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;) and the related Letter of Transmittal (which together constitute the &quot;Offer&quot;), copies of which are enclosed herewith. Please furnish copies of the enclosed materials to your clients for whose accounts you hold Units registered in your name and in the name of your nominee. The Offer is conditioned upon, among other things, there being validly tendered prior to the expiration of the Offer and not withdrawn, 2,261,770 Units, or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase. See the Introduction and Sections 1 and 14 of the Offer to Purchase. For your information and for forwarding to your clients, we are enclosing the following documents: 1. Offer to Purchase dated January 28, 1998; 2. Letter of Transmittal to tender Units (together with accompanying Substitute Form W-9); 3. A printed form of letter which may be sent to your clients for whose account you hold Units in your name or in the name of your nominee, with space provided for obtaining such client&#39;s instructions with regard to the Offer; 4. The Notice of Guaranteed Delivery to be used to accept the Offer if certificates for Units are not immediately available, if time will not permit all required documents to reach the Depositary prior to the Expiration Date (as defined in the Offer to Purchase) or if the procedure for book-entry transfer cannot be completed on a timely basis;
5. Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9; and 6. Return envelope addressed to the Depositary. YOUR PROMPT ACTION IS REQUESTED. WE URGE YOU TO CONTACT YOUR CLIENTS AS PROMPTLY AS POSSIBLE. PLEASE NOTE THAT THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 27, 1998, UNLESS THE OFFER IS EXTENDED.
5. Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9; and 6. Return envelope addressed to the Depositary. YOUR PROMPT ACTION IS REQUESTED. WE URGE YOU TO CONTACT YOUR CLIENTS AS PROMPTLY AS POSSIBLE. PLEASE NOTE THAT THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 27, 1998, UNLESS THE OFFER IS EXTENDED. In all cases, payment for Units accepted for payment pursuant to the Offer will be made only after timely receipt by the Depositary of certificates evidencing such Units (or a confirmation of a book-entry transfer of such Units into the Depositary&#39;s account at the Book-Entry Transfer Facility (as defined in the Offer to Purchase)), a Letter of Transmittal (or facsimile thereof) properly completed (or an Agent&#39;s Message (as defined in the Offer to Purchase)) and duly executed and any other required documents. If holders of Units wish to tender, but it is impracticable for them to forward their certificates or other required documents prior to the expiration of the Offer, a tender may be effected by following the guaranteed delivery procedure described in Section 3 of the Offer to Purchase. Purchaser will not pay any fees or commissions to any broker or dealer or any other persons (other than the fees of the Depositary and Information Agent) in connection with the solicitation of tenders of Units pursuant to the Offer. You will be reimbursed for customary mailing and handling expenses incurred by you in forwarding any of the enclosed materials to your clients. Purchaser will pay or cause to be paid any transfer taxes payable on the transfer of Units to it, except as otherwise provided in Instruction 6 of the Letter of Transmittal. Any inquiries you may have with respect to the Offer should be addressed to, and additional copies of the enclosed materials may be obtained by contacting, Corporate Investor Communications, Inc., the Information Agent, at its address and telephone number set forth on the back of the Offer to Purchase. Very truly yours, CORPORATE INVESTOR COMMUNICATIONS, INC. NOTHING CONTAINED HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL RENDER YOU OR ANY OTHER PERSON THE AGENT OF THE PURCHASER, THE DEPOSITARY OR THE INFORMATION AGENT, OR ANY AFFILIATE OF ANY OF THEM, OR AUTHORIZE YOU OR ANY OTHER PERSON TO GIVE ANY INFORMATION OR USE ANY DOCUMENT OR MAKE ANY STATEMENTS ON BEHALF OF ANY OF THEM WITH RESPECT TO THE OFFER OTHER THAN THE ENCLOSED DOCUMENTS AND THE STATEMENTS CONTAINED THEREIN.
Offer to Purchase for Cash 2,261,770 Units of Beneficial Interest of TEL OFFSHORE TRUST at $5.80 Net Per Unit by MAGNUM HUNTER RESOURCES, INC. THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 27, 1998, UNLESS THE OFFER IS EXTENDED. To Our Client: Enclosed for your consideration are the Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;) and
Offer to Purchase for Cash 2,261,770 Units of Beneficial Interest of TEL OFFSHORE TRUST at $5.80 Net Per Unit by MAGNUM HUNTER RESOURCES, INC. THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, FEBRUARY 27, 1998, UNLESS THE OFFER IS EXTENDED. To Our Client: Enclosed for your consideration are the Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;) and the related Letter of Transmittal (which together constitute the &quot;Offer&quot;) relating to the Offer by Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), to purchase 2,261,770 Units of beneficial interest (the &quot;Units&quot;), of TEL Offshore Trust, a trust created under the laws of Texas (the &quot;Trust&quot;), or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase, at a price of $5.80 per Unit net to the seller in cash, upon the terms and subject to the conditions set forth in the Offer. This material is being forwarded to you as the beneficial owner of Units carried by us in your account but not registered in your name. We are the holder of record of Units held by us for your account. A tender of such Units can be made only by us as the holder of record and pursuant to your instructions. The Letter of Transmittal is furnished to you for your information only and cannot be used by you to tender Units held by us for your account. Accordingly, we request instructions as to whether you wish to tender any and all of such Units held by us for your account, upon the terms and subject to the conditions set forth in the Offer. Please note the following: 1. The tender price is $5.80 per Unit net to you in cash. 2. The Offer is being made for 2,261,770 Units or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase. 3. The Offer and withdrawal rights will expire at 12:00 midnight, New York City time, on Friday, February 27, 1998, unless the Offer is extended. 4. The Offer is conditioned upon, among other things, there being validly tendered prior to the expiration of the Offer and not withdrawn, 2,261,770 Units or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase. See the Introduction and Sections 1 and 14 of the Offer to Purchase. 5. Tendering Unit holders will not be obligated to pay brokerage fees or commissions or, except as set forth in Instruction 6 of the Letter of Transmittal, transfer taxes on the purchase of Units pursuant to the Offer. 1
If you wish to have us tender any or all of your Units, please so instruct us by completing, executing, detaching and returning to us the instruction form attached to this letter. An envelope in which to return your instructions to us is enclosed. If you authorize tender of your Units, all such Units will be tendered unless otherwise indicated in the instruction form. Please forward your instructions to us in ample time to permit us to submit a tender on your behalf prior to the expiration of the Offer.
If you wish to have us tender any or all of your Units, please so instruct us by completing, executing, detaching and returning to us the instruction form attached to this letter. An envelope in which to return your instructions to us is enclosed. If you authorize tender of your Units, all such Units will be tendered unless otherwise indicated in the instruction form. Please forward your instructions to us in ample time to permit us to submit a tender on your behalf prior to the expiration of the Offer. The Offer is made solely by the Offer to Purchase dated January 28, 1998 and the related Letter of Transmittal and any amendments or supplements thereto. The Offer is not being made to (nor will tenders be accepted from or on behalf of) holders of Units residing in any jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the securities laws of such jurisdiction. However, Purchaser may, in its discretion, take such action as it may deem necessary to make the Offer to holders of Units in such jurisdiction. In any jurisdiction where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Purchaser by one or more registered brokers or dealers licensed under the laws of such jurisdiction. 2
Instructions with Respect to the Offer to Purchase for Cash 2,261,770 Units of Beneficial Interest of TEL OFFSHORE TRUST at $5.80 Net Per Unit by MAGNUM HUNTER RESOURCES, INC. The undersigned acknowledge(s) receipt of your letter, the enclosed Offer to Purchase dated January 28, 1998, and the related Letter of Transmittal (which, together with any amendments or supplements thereto, constitute the &quot;Offer&quot;) in connection with the offer by Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), to purchase 2,261,770 Units of beneficial interest of TEL Offshore Trust, a trust created under the laws of the State of Texas (the &quot;Trust&quot;), or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase, at a price of $5.80 per Unit, net to the seller in cash, without interest thereon, upon the terms and subject to the conditions set forth in the Offer. This will instruct you to tender to Purchaser the number of Units indicated below (or if no number is indicated below, all Units) which are held by you for the account of the undersigned, upon the terms and subject to the conditions set forth in the Offer.
Number of Units Tendered*: _______________________________________ SIGN HERE _________________________________
Certificate Nos.(if available):________ _______________________________________
_________________________________ Signature(s) _________________________________ _________________________________ Please Type or Print Name(s) Here _________________________________ _________________________________ Please Type or Print Address(es) Here _________________________________
Account Number:________________________ Date: __________________________ , 1998
* Unless otherwise indicated, it will be Area Code and Tel. No. assumed that all Units held by us for your account are to be tendered. _________________________________ Taxpayer Identification or Social Security Number 3
GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9 Guidelines for Determining the Proper Identification Number to Give the Payer.--Social Security numbers have nine digits separated by two hypens: i.e. 000-00-0000. Employer identification numbers have nine digits separated by only one hyphen: i.e. 00-0000000. The table below will help determine the number to give the payer.
For this type of account: --------------------------------1. An individual&#39;s account Give the SOCIAL SECURITY number of-------------------------------The individual For this type of account: ----------------------------6. A valid trust, estate, or pension trust G I n T f n r u i t
For this type of account: --------------------------------1. An individual&#39;s account Give the SOCIAL SECURITY number of-------------------------------The individual For this type of account: ----------------------------6. A valid trust, estate, or pension trust G I n T f n r u i t T
Two or more individuals (joint account) Custodian account of a minor (Uniform Gift to Minors Act) a.
The actual owner of the account or, if combined funds, the first individual on the account) (1) The minor(2)
7. Corporate account
Account with the T Department of Agriculture in the name of a public entity (such as a State or local government, school district, or prison) that receives agricultural program payments ---------------------------------------------------------------------------------------------------------
The usual revocable The grantor-trustee(1) savings trust account (grantor is also trustee) b. So-called trust account The actual owner(1) that is not a legal or valid trust under State law Sole proprietorship account The owner(3)
8. Association, club,religious, T charitable, educational, or other tax-exempt organization account 9. Partnership T
(1) List first and circle the name of the person whose number you furnish. If only one person on a joint account has a social security number, that person&#39;s number must be furnished. (2) Circle the minor&#39;s name and furnish the minor&#39;s social security number. (3) You must show your individual name. You may also enter your business or &quot;doing business as&quot; name. You may use either your social security number or, if you have one, your employer identification number. (4) List first and circle the name of the legal trust, estate, or pension trust. Note: If no name is circled when there is more than one name listed, the number will be considered to be that of the first name listed. 1
GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9 Page 2 Obtaining a Number
GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9 Page 2 Obtaining a Number If you do not have a taxpayer identification number or you don&#39;t know your number, obtain Form SS-5, Application for a Social Security Number Card, or Form SS-4, Application for Employer Identification Number, at the local office of the Social Security Administration or the Internal Revenue Service and apply for a number. You may also obtain Form SS-4 by calling the IRS at 1-800-TAX-FORM.] Payees Exempt from Backup Withholding Payees specifically exempted from backup withholding on ALL payments include the following: o An organization exempt from tax under section 501(a), or an individual retirement plan. o The United States or any wholly-owned agency or instrumentality thereof o A State, the District of Columbia, a possession of the United States, or any political subdivision or whollyowned agency instrumentality thereof. o A foreign government, a political subdivision of a foreign government, or any wholly-owned agency or instrumentality thereof. o An international organization or any wholly-owned agency, or instrumentality thereof. Payees specifically exempted from backup withholding on interest and dividend payments include the following: o A corporation. o A financial institution. o A registered dealer in securities or commodities registered in the U.S., the District of Columbia, or a possession of the U.S. o A real estate investment trust. o A common trust fund operated by a bank under section 584(a). o An exempt charitable remainder trust, or a non-exempt trust described in section 4947. o An entity registered at all times during the tax year under the Investment Advisors Act of 1940. o A foreign central bank of issue. o A middleman known in the investment community as a nominee or who is listed in the most recent publication of the American Society of Corporate Secretaries, Inc., Nominee List. Payments of dividends and patronage dividends not generally subject to backup withholding include the following: o Payments to nonresident aliens subject to withholding under section 1441. o Payments to partnerships not engaged in a trade or business in the U.S. and which have at least one nonresident partner. o Payments of patronage dividends not paid in money. o Payments made by certain foreign organizations. o Section 404(k) payments made by an ESOP. 2
Payments of interest not generally subject to backup withholding include the following: o Payments of interest on obligations issued by individuals. Note: You may be subject to backup withholding if this interest is $600 or more and is paid in the course of the payer&#39;s trade or business and you have not provided your correct taxpayer identification number to the payer. o Payments of tax-exempt interest (including exemptinterest dividends under section 852). o Payments described in section 6049(b)(5) to non-resident aliens. o Payments on tax-free covenant bonds under section 1451. o Payments made by certain foreign organizations. Exempt payees described above may file Form W-9 to avoid possible erroneous backup withholding. FILE THIS FORM WITH THE PAYER, FURNISH YOUR TAXPAYER IDEN TIFICATION NUMBER, WRITE &quot;EXEMPT&quot; ON THE FACE OF THE FORM, SIGN AND DATE THE FORM, AND RETURN IT
Payments of interest not generally subject to backup withholding include the following: o Payments of interest on obligations issued by individuals. Note: You may be subject to backup withholding if this interest is $600 or more and is paid in the course of the payer&#39;s trade or business and you have not provided your correct taxpayer identification number to the payer. o Payments of tax-exempt interest (including exemptinterest dividends under section 852). o Payments described in section 6049(b)(5) to non-resident aliens. o Payments on tax-free covenant bonds under section 1451. o Payments made by certain foreign organizations. Exempt payees described above may file Form W-9 to avoid possible erroneous backup withholding. FILE THIS FORM WITH THE PAYER, FURNISH YOUR TAXPAYER IDEN TIFICATION NUMBER, WRITE &quot;EXEMPT&quot; ON THE FACE OF THE FORM, SIGN AND DATE THE FORM, AND RETURN IT TO THE PAYER. Certain payments other than interest, dividends, and patronage dividends, that are not subject to information reporting are also not subject to backup withholding. For details, see sections 6041, 6041A, 6045, and 6050A, 6050N, and their regulations. Privacy Act Notice. Section 6109 requires most recipients of dividend, interest, or other payments to give taxpayer identification numbers to payers who must report the payments to IRS. IRS uses the numbers for identification purposes and to help verify the accuracy of tax returns. The IRS also may provide this information to the Department of Justice for civil and criminal litigation and to cities, states, and the District of Columbia to carry out their tax laws. Payers must be given the numbers whether or not recipients are required to file tax returns. Payers must generally withhold 31% of taxable interest, dividend, and certain other payments to a payee who does not furnish a taxpayer identification number to a payer. Certain penalties may also apply. Penalties (1) Penalty for Failure to Furnish Taxpayer Identification Number. --If you fail to furnish your taxpayer identification number to a payer, you are subject to a penalty of $50 for each such failure unless your failure is due to reasonable cause and not to willful neglect. (2) Civil Penalty for False Information With Respect to Withholding.--If you make a false statement with no reasonable basis that results in no backup withholding, you are subject to a penalty of $500. (3) Criminal Penalty for Falsifying Information. -- Willfully falsifying certifications or affirmations may subject you to criminal penalties including fines and/or imprisonment. FOR ADDITIONAL INFORMATION CONTACT YOUR TAX CONSULTANT OR THE INTERNAL REVENUE SERVICE. 3
This announcement is neither an offer to purchase nor a solicitation of an offer to sell Units. The Offer is made solely by the Offer to Purchase dated January 28, 1998 and the related Letter of Transmittal and any amendments or supplements thereto, and is being made to all holders of Units. The Offer is not being made to, nor will tenders be accepted from or on behalf of, holders of Units residing in any jurisdiction in which the making of the Offer or the acceptance thereof would not be in compliance with the securities, blue sky laws or other laws of such jurisdiction. However, the offeror may, in its discretion, take such action as it may deem necessary to make the Offer in any jurisdiction and extend the Offer to holders of Units in such jurisdiction. Notice of Offer to Purchase for Cash 2,261,770 Units of Beneficial Interest of TEL Offshore Trust at $5.80 Net Per Unit by Magnum Hunter Resources, Inc. THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, E.S.T., ON FRIDAY, FEBRUARY 27, 1998, UNLESS EXTENDED Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), hereby offers to purchase 2,261,770 Units of beneficial interest (the &quot;Units&quot;) of TEL Offshore Trust, a Texas trust (the &quot;Trust&quot;), or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units
This announcement is neither an offer to purchase nor a solicitation of an offer to sell Units. The Offer is made solely by the Offer to Purchase dated January 28, 1998 and the related Letter of Transmittal and any amendments or supplements thereto, and is being made to all holders of Units. The Offer is not being made to, nor will tenders be accepted from or on behalf of, holders of Units residing in any jurisdiction in which the making of the Offer or the acceptance thereof would not be in compliance with the securities, blue sky laws or other laws of such jurisdiction. However, the offeror may, in its discretion, take such action as it may deem necessary to make the Offer in any jurisdiction and extend the Offer to holders of Units in such jurisdiction. Notice of Offer to Purchase for Cash 2,261,770 Units of Beneficial Interest of TEL Offshore Trust at $5.80 Net Per Unit by Magnum Hunter Resources, Inc. THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, E.S.T., ON FRIDAY, FEBRUARY 27, 1998, UNLESS EXTENDED Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Purchaser&quot;), hereby offers to purchase 2,261,770 Units of beneficial interest (the &quot;Units&quot;) of TEL Offshore Trust, a Texas trust (the &quot;Trust&quot;), or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase, at a purchase price of $5.80 per Unit, net to the seller in cash, without interest thereon, subject to the conditions set forth in the Offer to Purchase dated January 28, 1998 (the &quot;Offer to Purchase&quot;) and the Letter of Transmittal (which, together with any amendments or supplements thereto, constitute the &quot;Offer&quot;). Tendering Unit holders who have Units registered in their names will not be charged brokerage fees or commissions or, subject to Instruction 6 of the Letter of Transmittal, transfer taxes on the purchase of Units pursuant to the Offer. The offer is conditioned upon, among other things, there being validly tendered and not withdrawn prior to the Expiration Date (as defined below) 2,261,770 Units or such other number of Units that, together with the Units then owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase (the &quot;Minimum Condition&quot; and such number of Units being the &quot;Minimum Number of Units&quot;). The Offer also is subject to other conditions, which are set forth in the Introduction and Sections 1 and 14 of the Offer to Purchase. One purpose of the Offer is to acquire, and possibly influence control over, the Trust. &quot;Expiration Date&quot; means 12:00 midnight, E.S.T., on Friday, February 27, 1998, unless and until Purchaser shall have extended the period of time during which the Offer is open, in which event &quot;Expiration Date&quot; means the latest time and date at which the Offer, as so extended, expires. Purchaser expressly reserves the right, subject to applicable law, to extend the Offer by giving oral or written notice of such extension to Securities Transfer Corporation (the &quot;Depositary&quot;) and by making a public announcement of such extension. Subject to the conditions of the Offer, if more than the Minimum Number of Units is validly tendered and not withdrawn in accordance with Section 4 of the Offer to Purchase prior to the Expiration Date, Purchaser will accept for payment and pay for the Minimum Number of Units, on a pro rata basis (with adjustments to avoid purchases of fractional Units) based upon the number of Units properly tendered and not withdrawn prior to the Expiration Date. In the event that proration is required, because of the difficulty of determining the precise number of Units properly tendered and not withdrawn, Purchaser does not expect to announce the final results of proration or pay for any Units until at least seven business days after the Expiration Date. Unit holders may obtain preliminary results of proration from the Information Agent and may be able to obtain such information from their brokers. Purchaser reserves the right (but shall not be obligated) to accept for payment more than the Minimum Number of Units pursuant to the Offer. If a number of additional Units in excess of 2%of the outstanding Units is to be accepted for payment, and, at the time notice of Purchaser&#39;s decision to accept for payment such additional Units is first published, sent or given to holders of Units, the Offer is scheduled to expire at any time earlier than the tenth business day from the date of such notice, the Offer will be extended until the expiration of such period of 10 business days.
If the Minimum Condition or any other condition of the Offer has not been satisfied prior to the Expiration Date, Purchaser reserves the right to waive any or all of the conditions of the Offer. If at such time any or all of the conditions have not been satisfied or waived, Purchaser may (i) decline to purchase any Units tendered and terminate the Offer, (ii) waive all of the unsatisfied conditions and, subject to complying with applicable rules and regulations of the SEC, purchase all Units validly tendered, (iii) extend the Offer and, subject to the right of Unit holders to withdraw Units until the Expiration Date, retain the Units that have been tendered during the period or periods for which the Offer is extended, and/or (iv) amend the Offer.
If the Minimum Condition or any other condition of the Offer has not been satisfied prior to the Expiration Date, Purchaser reserves the right to waive any or all of the conditions of the Offer. If at such time any or all of the conditions have not been satisfied or waived, Purchaser may (i) decline to purchase any Units tendered and terminate the Offer, (ii) waive all of the unsatisfied conditions and, subject to complying with applicable rules and regulations of the SEC, purchase all Units validly tendered, (iii) extend the Offer and, subject to the right of Unit holders to withdraw Units until the Expiration Date, retain the Units that have been tendered during the period or periods for which the Offer is extended, and/or (iv) amend the Offer. For purposes of the Offer, Purchaser will be deemed to have accepted for payment (and thereby purchased) Units properly tendered to Purchaser and not withdrawn, if and when Purchaser gives oral or written notice to the Depositary of Purchaser&#39;s acceptance of such Units for payment pursuant to the Offer. In all cases, payment for Units accepted for payment pursuant to the Offer will be made by deposit of the purchase price therefor with the Depositary, which will act as agent for tendering Unit holders for the purpose of receiving payment from Purchaser and transmitting payment to tendering Unit holders. Under no circumstances will interest on the purchase price for Units be paid by Purchaser by reason of any delay in making such payment. In all cases, payment for Units accepted for payment pursuant to the Offer will be made only after timely receipt by the Depositary of (a) certificates for such Units (&quot;Certificates&quot;) or a book-entry confirmation of the book-entry transfer of such Units into the Depositary&#39;s account at the Depository Trust Company (the &quot;Book-Entry Transfer Facility&quot;), pursuant to procedures set forth on the Offer to Purchase, (b) the Letter of Transmittal, or facsimile thereof, properly completed and duly executed with any required signature guarantees, or an Agent&#39;s Message (as defined in the Offer to Purchase) in connection with a book-entry transfer, and (c) any other documents required by the Letter of Transmittal. If certain events occur, Purchaser will not be obligated to accept for payment or pay for any Units tendered pursuant to the Offer. If any tendered Units are not purchased pursuant to the Offer for any reason, including because of proration, or are not paid for because of invalid tender, or if Certificates are submitted representing more Units than are tendered, Certificates representing unpurchased or untendered Units will be returned, without expense to the tendering Unit holder (or in the case of Units delivered by book-entry transfer into the Depositary&#39;s account at the Book-Entry Transfer Facility pursuant to the procedures set forth in Section 3 of the Offer to Purchase, such Units will be credited to an account maintained within the Book-Entry Transfer Facility), as promptly as practicable following the expiration or termination of the Offer. If Purchaser extends the Offer, is delayed in its purchase of or payment for Units or is unable to purchase or pay for Units for any reason then, without prejudice to the rights of Purchaser, tendered Units may be retained by the Depositary on behalf of Purchaser and may not be withdrawn, except to the extent that tendering Unit holders are entitled to withdrawal rights as set forth in Section 4 of the Offer to Purchase.
Except as otherwise provided in Section 4 of the Offer to Purchase, tenders of Units made pursuant to the Offer are irrevocable. Units tendered pursuant to the Offer may be withdrawn at any time prior to the Expiration Date and, unless theretofore accepted for payment and paid for by Purchaser pursuant to the Offer, may also be withdrawn at any time after March 28, 1998. For a withdrawal to be effective, a written, telegraphic or facsimile transmission notice of withdrawal must be timely received by the Depositary at the address set forth on the back cover of the Offer to Purchase. Any such notice of withdrawal must specify the name of the person who tendered the Units to be withdrawn, the number of Units to be withdrawn and the name of the registered holder, if different from that of the person who tendered the Units. If Certificates evidencing Units have been delivered or otherwise identified to the Depositary, then, prior to the physical release of such Certificates, the tendering Unit holder must also submit to the Depositary the serial numbers shown on the particular Certificates evidencing the Units to be withdrawn, and the signature on the notice of withdrawal must be guaranteed by an Eligible Institution (as defined in the Offer to Purchase) (except in the case of Units tendered for the account of an Eligible Institution). If Units have been tendered pursuant to the procedure for book-entry transfer set forth in Section 3 of the Offer to Purchase, the notice of withdrawal must also specify the name and number of the account at the Book-Entry Transfer Facility to be credited with the withdrawn Units and otherwise comply with such Book-Entry Transfer Facility&#39;s procedures. Any Units properly withdrawn will be deemed not to be validly tendered for purposes of the Offer. Withdrawn Units may, however, be retendered by repeating one of the procedures set forth in Section 3 of the Offer to Purchase at any time before the Expiration Date. All questions as to the form and validity (including time of receipt) of notices of withdrawal will be determined by Purchaser, in its sole discretion, whose determination will be final and binding on all parties.
Except as otherwise provided in Section 4 of the Offer to Purchase, tenders of Units made pursuant to the Offer are irrevocable. Units tendered pursuant to the Offer may be withdrawn at any time prior to the Expiration Date and, unless theretofore accepted for payment and paid for by Purchaser pursuant to the Offer, may also be withdrawn at any time after March 28, 1998. For a withdrawal to be effective, a written, telegraphic or facsimile transmission notice of withdrawal must be timely received by the Depositary at the address set forth on the back cover of the Offer to Purchase. Any such notice of withdrawal must specify the name of the person who tendered the Units to be withdrawn, the number of Units to be withdrawn and the name of the registered holder, if different from that of the person who tendered the Units. If Certificates evidencing Units have been delivered or otherwise identified to the Depositary, then, prior to the physical release of such Certificates, the tendering Unit holder must also submit to the Depositary the serial numbers shown on the particular Certificates evidencing the Units to be withdrawn, and the signature on the notice of withdrawal must be guaranteed by an Eligible Institution (as defined in the Offer to Purchase) (except in the case of Units tendered for the account of an Eligible Institution). If Units have been tendered pursuant to the procedure for book-entry transfer set forth in Section 3 of the Offer to Purchase, the notice of withdrawal must also specify the name and number of the account at the Book-Entry Transfer Facility to be credited with the withdrawn Units and otherwise comply with such Book-Entry Transfer Facility&#39;s procedures. Any Units properly withdrawn will be deemed not to be validly tendered for purposes of the Offer. Withdrawn Units may, however, be retendered by repeating one of the procedures set forth in Section 3 of the Offer to Purchase at any time before the Expiration Date. All questions as to the form and validity (including time of receipt) of notices of withdrawal will be determined by Purchaser, in its sole discretion, whose determination will be final and binding on all parties. The information required by Paragraph (e)(1)(vii) of Rule 14d-6 under the Exchange Act is in the Offer to Purchase and is incorporated by reference. Purchaser is asking the Trust for a Unit holder list and security position listing pursuant to Rule 14d-4(a)(3) promulgated under the Exchange Act. The Offer to Purchase, the related Letter of Transmittal and other relevant materials will be mailed to record holders of Units whose names appear on the Trust&#39;s Unit holder list and will be furnished to brokers, dealers, commercial banks, trust companies and similar persons whose names, or the names of whose nominees, appear on the Unit holder list or, if applicable, who are listed as participants in a clearing agency&#39;s security position listing for subsequent transmittal to beneficial owners of Units. The Offer to Purchase and the related Letter of Transmittal contain important information which should be read carefully before any decision is made with respect to the Offer. Questions and requests for assistance may be directed to the Information Agent. Copies of the Offer to Purchase, the Letter of Transmittal and other related materials may be obtained from the Information Agent or brokers, dealers, commercial banks or trust companies, and will be furnished promptly at Purchaser&#39;s expense. The Information Agent for this Offer is: Corporate Investor Communications, Inc. 111 Commerce Road o Carlstadt, New Jersey 07072-2586; Banks and Brokers call toll-free (800) 346-7885; All others call toll-free (800) 206-9438.
Magnum Hunter Resources, Inc. 600 East Las Colinas Blvd., Suite 1200, Irving, TX 75039 Phone (972) 4010752 Fax (972) 401-3110 Internet Address: http://www.magnumhunter.com NEWS FOR IMMEDIATE RELEASE American Stock Exchange o Common - MHR o Bonds - MHR.B
MAGNUM HUNTER ANNOUNCES CASH TENDER OFFER FOR 51% OF THE UNITS OF TEL OFFSHORE TRUST Irving, Texas, January 28, 1998, Magnum Hunter Resources, Inc. (&quot;Magnum Hunter&quot;) announced today a cash purchase offer for, together with the Units it already owns, 51% of the Units of TEL Offshore Trust (OTC
MAGNUM HUNTER ANNOUNCES CASH TENDER OFFER FOR 51% OF THE UNITS OF TEL OFFSHORE TRUST Irving, Texas, January 28, 1998, Magnum Hunter Resources, Inc. (&quot;Magnum Hunter&quot;) announced today a cash purchase offer for, together with the Units it already owns, 51% of the Units of TEL Offshore Trust (OTC Bulletin Board - &quot;TELOZ&quot;), which indirectly owns net profit interests in 19 federal leases in the Gulf of Mexico, 13 of which are currently producing. Magnum Hunter is offering to purchase 2,261,770 Units of Tel Offshore Trust at a purchase price of $5.80 per Unit, net to the seller in cash. The aggregate amount of the offer is $13.1 million. Magnum Hunter currently owns 161,500 Units representing 3.4% of the Units outstanding. Terms and conditions of the offer to purchase are set forth in the Offer to Purchase and related Letter of Transmittal which is being mailed to all holders of Units of TEL Offshore Trust. The offer will expire at 12:00 midnight, New York City time, on Friday, February 27, 1998. Commenting on the offer, Mr. Gary C. Evans, President and Chief Executive Officer remarked &quot;Magnum Hunter has established a strong foundation of long-lived onshore oil and gas reserves, principally in Texas, New Mexico and Oklahoma. We are developing these properties through an active drilling program, having successfully completed 75 out of 80 wells last year. Ownership of Units in the TEL Offshore Trust will strategically allow us to expand our geographic focus to the Gulf of Mexico where our management has significant experience and where reserve life is typically much shorter and would therefore compliment Magnum Hunter&#39;s 15 year reserve life index.&quot; ### Magnum Hunter Resources, Inc. is an exploration and development company engaged in four principal activities: (1) the acquisition, production and sale of crude oil, condensate and natural gas; (2) the gathering, transmission and marketing of natural gas; (3) the managing and operating of producing oil and natural gas properties for interest owners; and (4) providing consulting and U.S. export services to facilitate Latin American trade in energy products. FOR FURTHER INFORMATION CONTACT: MICHAEL P. MCINERNEY INVESTOR RELATIONS (972) 401-0752
To Unit Holders of TEL Offshore Trust: Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Magnum Hunter&quot; or the &quot;Purchaser&quot;) headquartered in Irving, Texas, hereby offers to purchase 2,261,770 Units of beneficial interest (the &quot;Units&quot;) of TEL Offshore Trust, a trust created under the laws of the State of Texas (the &quot;Trust&quot;), or such other number of Units that, together with the Units already owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase. The price per Unit that Magnum Hunter is offering in cash is $5.80 (such amount, or any greater amount per Unit paid pursuant to the Offer as defined below), being hereinafter referred to as the (&quot;Offer Price&quot;), net to the seller without interest, upon the terms and subject to the conditions set forth in this Offer to Purchase and in the related Letter of Transmittal (which, together with any amendments of supplements hereto or thereto,
To Unit Holders of TEL Offshore Trust: Magnum Hunter Resources, Inc., a Nevada corporation (&quot;Magnum Hunter&quot; or the &quot;Purchaser&quot;) headquartered in Irving, Texas, hereby offers to purchase 2,261,770 Units of beneficial interest (the &quot;Units&quot;) of TEL Offshore Trust, a trust created under the laws of the State of Texas (the &quot;Trust&quot;), or such other number of Units that, together with the Units already owned by Purchaser, represents 51% of the Trust&#39;s outstanding Units on the date of purchase. The price per Unit that Magnum Hunter is offering in cash is $5.80 (such amount, or any greater amount per Unit paid pursuant to the Offer as defined below), being hereinafter referred to as the (&quot;Offer Price&quot;), net to the seller without interest, upon the terms and subject to the conditions set forth in this Offer to Purchase and in the related Letter of Transmittal (which, together with any amendments of supplements hereto or thereto, collectively constitute the &quot;Offer&quot;). The purpose of the Offer is to enable Magnum Hunter to acquire a significant ownership interest in the Trust as an investment, based on its expectation that there may be underlying value in the oil and gas properties owned by the Trust. Our future plans with respect to the Trust will depend in part on the Unit Holders response to the Offer. If more than the maximum number of Units being sought are tendered and not withdrawn prior to the Expiration of the Offer, we will accept Units for purchase on a pro rata basis, subject to certain conditions described in the Offer. The Offer presents Unit Holders with an opportunity to sell their Units at a substantial premium to both the current market trading price as well as the recent historical market trading price of the Units, without the customary costs associated with market sales with a brokerage firm. Additionally, due to the recent volatility in oil and gas prices and the reduction in value associated with the natural decline in oil and gas reserves, Magnum Hunter believes this Offer presents a unique opportunity to the Unit Holders to sell their Units. Magnum Hunter Resources, Inc. is a rapidly growing independent energy company whose Common Stock and Bonds are listed on the American Stock Exchange under the symbols &quot;MHR&quot;and &quot;MHR.B&quot;, respectively. The company is engaged in the acquisition, exploration and development, gas gathering and processing, and marketing for onshore oil and gas properties with a geographic focus in Texas, Oklahoma, and New Mexico. The company believes that ownership of the Units in the TEL Offshore Trust will strategically allow it to expand its geographic focus to offshore in the Gulf of Mexico where reserve life is typically much shorter and would therefore complement Magnum Hunter&#39;s 15 year reserve life index. The materials included in this package include important information concerning Magnum Hunter, the terms and conditions to the Offer, tax implications and instructions for tendering your Units. It is important that Unit Holders take some time to carefully read the attached Offer, the Letter of Acceptance and other accompanying materials in order to evaluate the Offer being made by the Purchaser. Each Unit Holder must make his or her own decision based on his or her particular circumstances. Unit holders should consult with their respective advisors about the financial, tax, legal and other implications to them of accepting this Offer to purchase your Units. If you desire additional information regarding the Offer or need assistance in tendering your Units to the Purchaser, you may call the Information Agent, Corporate Investor Communications, Inc. at (800) 206-9438. MAGNUM HUNTER RESOURCES, INC. Gary C. Evans President and CEO
"Letter Of Transmittal - TEL OFFSHORE TRUST - 1-28-1998"
http://img.docstoccdn.com/thumb/206/22410614.png
Offer To Purchase For Cash - TEL OFFSHORE TRUST - 1-28-1998
For Immediate Release American Stock Exchange - TEL OFFSHORE TRUST - 2-23-1998
This Announcement Is Neither An Offer To Purchase Nor A Solicitation Of An - TEL OFFSHORE TRUST - 1-28-1998
Letter Report - TEL OFFSHORE TRUST - 3-30-2012
Letter Report - TEL OFFSHORE TRUST - 3-31-2011