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
$0.33110 per unit, payable on January 29, 2008, to unit holders of record
on January 15, 2008.
This distribution reflects primarily the oil production for October 2007
and the gas production for September 2007. Preliminary production volumes are
approximately 32,248 barrels of oil and 500,289 mcf of gas. Preliminary
prices are approximately $82.89 per barrel of oil and $5.95 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 32,248 500,289 $82.89 $5.95
Month
Prior Month 32,214 458,632 $77.02 $6.01
Due to the timing of the end of the month of December, approximately
$569,000 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 $1,650,000 in revenue has been received.
Also, approximately $564,000 for 2007 Ad Valorem taxes is being
deducted from this month's distribution as compared to $612,000 for 2006.
These payments are normal expenditures at this time of year.
For additional information, including the latest financial reports on
Sabine Royalty Trust, please visit our website at
http://www.sbr-sabineroyalty.com/.
SOURCE Bank of America, N.A.
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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
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