Exhibit 25.1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM T-1
Statement of Eligibility Under
The Trust Indenture Act of 1939 of a
Corporation Designated to Act as Trustee
Check if an Application to Determine Eligibility of
a Trustee Pursuant to Section 305(b)(2)
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U.S. BANK NATIONAL ASSOCIATION (Exact
name of Trustee as specified in its charter)
31-0841368
I.R.S. Employer Identification No.
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800 Nicollet Mall
Minneapolis, Minnesota 55402
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(Address of principal executive offices) (Zip Code)
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Lori-Anne Rosenberg
U.S. Bank National Association
60 Livingston Avenue
St. Paul, MN 55107
(651) 495-3909
(Name, address and telephone number of agent for service)
Abraxas Petroleum Corporation
Eastside Coal Company, Inc.
Sandia Oil & Gas Corporation
Sandia Operating Corp.
Wamsutter Holdings, Inc.
Western Associated Energy Corporation
(Issuer with respect to the Securities)
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Nevada 74-258403
Colorado 74-227540
Texas 74-236896
Texas 74-246870
Wyoming 74-289701
Texas 74-193787
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
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500 North Loop 1604 East
Suite 100 78232
San Antonio, Texas
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(Address of Principal Executive Offices) (Zip Code)
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Floating Rate Senior Secured Notes due 2009
(Title of the Indenture Securities)
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FORM T-1
Item 1. GENERAL INFORMATION. Furnish the following information as to the
Trustee.
a) Name and address of each examining or supervising
authority to which it is subject. Comptroller of the
Currency Washington, D.C.
b) Whether it is authorized to exercise corporate trust
powers. Yes
Item 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the
Trustee, describe each such affiliation. None
Items 3-15 Items 3-15 are not applicable because to the best of the
Trustee's knowledge, the obligor is not in default under any
Indenture for which the Trustee acts as Trustee.
Item 16. LIST OF EXHIBITS: List below all exhibits filed as a part of this
statement of eligibility and qualification.
1. A copy of the Articles of Association of the
Trustee.*
2. A copy of the certificate of authority of the Trustee
to commence business.*
3. A copy of the certificate of authority of the Trustee
to exercise corporate trust powers.*
4. A copy of the existing bylaws of the Trustee.*
5. A copy of each Indenture referred to in Item 4. Not
applicable.
6. The consent of the Trustee required by Section 321(b)
of the Trust Indenture Act of 1939, attached as
Exhibit 6.
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7. Report of Condition of the Trustee as of September
30, 2004, published pursuant to law or the
requirements of its supervising or examining
authority, attached as Exhibit 7.
* Incorporated by reference to Registration Number 333-67188.
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NOTE
The answers to this statement insofar as such answers relate to what
persons have been underwriters for any securities of the obligors within three
years prior to the date of filing this statement, or what persons are owners of
10% or more of the voting securities of the obligors, or affiliates, are based
upon information furnished to the Trustee by the obligors. While the Trustee has
no reason to doubt the accuracy of any such information, it cannot accept any
responsibility therefor.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking
association organized and existing under the laws of the United States of
America, has duly caused this statement of eligibility and qualification to be
signed on its behalf by the undersigned, thereunto duly authorized, all in the
City of St. Paul, State of Minnesota on this 3rd day of December, 2004.
U.S. BANK NATIONAL ASSOCIATION
By: /s/ Lori-Anne Rosenberg
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Lori-Anne Rosenberg
Assistant Vice President
By: /s/ Benjamin J. Krueger
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Benjamin J. Krueger
Assistant Vice President
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Exhibit 6
CONSENT
In accordance with Section 321(b) of the Trust Indenture Act of 1939,
the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of
examination of the undersigned by Federal, State, Territorial or District
authorities may be furnished by such authorities to the Securities and Exchange
Commission upon its request therefor.
Dated: December 3, 2004
U.S. BANK NATIONAL ASSOCIATION
By: /s/ Lori-Anne Rosenberg
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Lori-Anne Rosenberg
Assistant Vice President
By: /s/ Benjamin J. Krueger
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Benjamin J. Krueger
Assistant Vice President
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Exhibit 7
U.S. Bank National Association
Statement of Financial Condition
As of 9/30/2004
($000's)
9/30/2004
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Assets
Cash and Due From Depository Institutions $6,973,101
Federal Reserve Stock 0
Securities 39,400,687
Federal Funds 2,842,037
Loans & Lease Financing Receivables 121,000,954
Fixed Assets 1,846,496
Intangible Assets 10,035,484
Other Assets 10,354,644
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Total Assets $192,453,403
Liabilities
Deposits $122,247,349
Fed Funds 7,346,293
Treasury Demand Notes 0
Trading Liabilities 145,128
Other Borrowed Money 30,331,854
Acceptances 146,102
Subordinated Notes and Debentures 5,535,512
Other Liabilities 6,060,066
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Total Liabilities $171,812,304
Equity
Minority Interest in Subsidiaries $1,013,889
Common and Preferred Stock 18,200
Surplus 11,792,288
Undivided Profits 7,816,722
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Total Equity Capital $19,627,210
Total Liabilities and Equity Capital $192,453,403
To the best of the undersigned's determination, as of the date hereof, the above
financial information is true and correct.
U.S. Bank National Association
By: /s/ Lori-Anne Rosenberg
Assistant Vice President
Date: December 3, 2004
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