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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 10-Q/A
(Amendment No. 1)
|X| Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended March 31, 1998
or
|_| Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the Transition Period from ________ to ___________
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Commission File Number: 0-6910
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TEL OFFSHORE TRUST
(Exact Name of Registrant as Specified in its Charter)
Texas 76-6004064
(State of Incorporation, (I.R.S. Employer
or Organization) Identification No.)
Chase Bank of Texas,
National Association
Corporate Trust Division
712 Main Street
Houston, Texas 77002
(Address of Principal (Zip Code)
Executive Offices)
Registrant's Telephone Number, Including Area Code: (713) 216-5712
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
----- -----
Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date.
As of May 8, 1998 -- 4,751,510 Units of Beneficial Interest in TEL
Offshore Trust.
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NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Form 10-Q includes "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other than
statements of historical facts included in this Form 10-Q are forward-looking
statements. Although the Working Interest Owners have advised the Trust that
they believe that the expectations reflected in the forward-looking statements
contained herein are reasonable, no assurance can be given that such
expectations will prove to have been correct. Important factors that could cause
actual results to differ materially from expectations ("Cautionary Statements")
are disclosed in this Form 10-Q, including without limitation in conjunction
with the forward-looking statements included in this Form 10-Q. All subsequent
written and oral forward- looking statements attributable to the Trust or
persons acting on its behalf are expressly qualified in their entirety by the
Cautionary Statements.
EXPLANATORY NOTE
The following Amendment No. 1 is being filed to correct the estimated
future net revenue amount included under the heading "Management's Discussion
and Analysis of Financial Condition and Results of Operations -- Future Net
Revenues and Termination of the Trust" to reflect the change in the estimate in
the reserve study by DeGolyer and MacNaughton from approximately $24.3 million
to $25.2 million.
The Trust does not believe that the effects of changes included in this
report on Form 10-Q due to this correction to the financial statements for the
quarterly period are material.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Amendment No. 1 to the report to be signed
on its behalf by the undersigned, thereunto duly authorized.
TEL OFFSHORE TRUST
By: Chase Bank of Texas, National Association,
Corporate Trustee
By: /s/ Pete Foster
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Pete Foster
Senior Vice President and Trust Officer
Date: September 16, 1998
The Registrant, TEL Offshore Trust, has no principal executive officer,
principal financial officer, board of directors or persons performing similar
functions. Accordingly, no additional signatures are available and none have
been provided.
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