DALLAS, March 5 /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 $0.23765 per unit, payable on March 29, 2007, to unit holders
of record on March 15, 2007.
This distribution reflects primarily the oil production for December 2006
and the gas production for November 2006. Preliminary production volumes are
approximately 22,555 barrels of oil and 399,705 mcf of gas. Preliminary
prices are approximately $55.08 per barrel of oil and $6.87 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 22,555 399,705 $55.08 $6.87
Prior Month 39,398 441,344 $53.94 $6.30
Due to the timing of the end of the month of February, approximately
$155,479 of revenue received will be posted in the following month of March
in addition to normal receipts during March. 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 February and prior to this press release,
approximately $1,524,000 in revenue has been received.
The 2006 tax information packets have been mailed to unitholders as of
February 28th. A copy of the 2006 Tax Information booklet is also available
on the Trust website.
For additional information, including the latest financial reports 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, Bank of
America, N.A., +1-800-365-6541, for Sabine Royalty Trust
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