DALLAS, Jan. 4 /PRNewswire-FirstCall/ -- Bank of America, N.A., Dallas,
Texas, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a
cash distribution to the holders of its units of beneficial interest of
$0.28375 per unit, payable on January 30, 2007, to unit holders of record
on January 16, 2007.
This distribution reflects primarily the oil production for October 2006
and the gas production for September 2006. Preliminary production volumes are
approximately 45,068 barrels of oil and 533,393 mcf of gas. Preliminary
prices are approximately $54.07 per barrel of oil and $5.30 per mcf of gas.
The table below compares this month's production and prices to the previous
months:
Net to Trust Sales
Volumes Average Price
Oil Gas Oil Gas
(Bbls) (Mcf) (per Bbl) (per Mcf)
Current Month 45,068 533,393 $54.07 $5.30
Prior Month 27,256 350,112 $57.48 $6.10
Due to the timing of the end of the month of December, approximately
$184,000 of revenue received will be posted in the following month of
January in addition to normal receipts during January. Revenues are only
posted and distributed when they are received. Most energy companies
normally issue payment of royalties on or about the 25th of every month,
and depending on mail delivery, a varying amount of royalties are not
received until after the revenue posting on the last business day of the
month. The revenues received after that date will be posted within 30 days
of receipt. Since the close of business in December and prior to this press
release, approximately $1,200,000 in revenue has been received.
Also, approximately $612,000 for 2006 Ad Valorem taxes is being
deducted from this month's distribution as compared to $324,000 for 2005.
These payments are normal expenditures at this time of year.
For the available 2006 reports and additional information on Sabine
Royalty Trust, please visit our website at
http://www.sbr-sabineroyalty.com/ .
SOURCE Sabine Royalty Trust
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Related links:
http://www.sbr-sabineroyalty.com
CONTACT:
Ron E. Hooper, Senior Vice President of Bank
of America, N.A., +1-800-365-6541, for Sabine Royalty Trust
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