At first glance, Whiting Trust II (WHZ) appears to be a decent investment. Searches bring it up with a yield of 23% and who wouldn't want to own oil and gas in the current market of rising prices? Even heavily beat down natural gas has been on a general upswing in the past year. WHZ is a security where reading filings and doing due diligence is very important. This is something owners of Whiting's (NYSE:WLL) other trust, Whiting Trust I (NYSE:WHX), found out the hard way during the middle of last year. WHZ has similar expiration issues as well that I will detail later.
WHZ IPO'd a little over a year ago at $20. It was...
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