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MESA OFFSHORE TRUST COMPLETES ITS EXCHANGE OFFER

 HOUSTON, Aug. 27 /PRNewswire/ -- Mesa Offshore Trust (the "Trust") announced that Mesa Inc. ("MESA") (NYSE: MXP) has advised the Trust that Mesa has successfully completed its $600 million exchange offer to its subordinated noteholders with over 97 percent of Mesa's subordinated notes being exchanged for new notes. In its announcement of the conclusion of the exchange offer, Mesa stated that "completion of the exchange offer will enable Mesa to defer over $150 million in cash interest payments through 1995, substantially increasing Mesa's financial flexibility." Mesa has also advised the Trust that amendments to Mesa's bank credit agreement became effective as of Aug. 26, 1993.
 Mesa has advised the Trust that the closing of the exchange offer and the amendment of Mesa's bank credit agreement will cure all defaults on its outstanding debt. Mesa has also advised the Trust that, notwithstanding the consummation of the exchange offer, depending on industry conditions, Mesa may also generate or preserve cash by selling assets, issuing new debt or equity, reducing capital expenditures, or pursuing other alternatives. No assurance can be given by the Trust regarding Mesa's financial condition. Any cash generating transactions or other alternatives pursued by Mesa Could have significant effects on the Trust, although the precise nature of such effects cannot be predicted or quantified.
 -0- 8/27/93
 /CONTACT: David Snyder, Mesa Offshore Trust, Texas Commerce Bank, Trustee, 713-216-5100/
 (MXP)


CO: Mesa Offshore Trust ST: Texas IN: SU:

WB -- NY064 -- 6776 08/27/93 17:10 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
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