DALLAS, March 6 /PRNewswire-FirstCall/ -- U.S. Trust, 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 $0.37389
per unit, payable on March 31, 2008, to unit holders of record on March 17,
2008.
This distribution reflects primarily the oil production for December 2007
and the gas production for November 2007. Preliminary production volumes are
approximately 28,322 barrels of oil and 525,346 Mcf of gas. Preliminary
prices are approximately $87.39 per barrel of oil and $6.39 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 28,322 525,346 $87.39 $6.39
Prior Month 43,912 578,375 $87.71 $6.32
Due to the timing of the end of the month of February, approximately
$190,000 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 $2,700,000 in revenue has been received.
The 2007 tax information packets were mailed directly to unitholders as
of March 1, 2008.
For a copy of the 2007 Tax Information booklet and additional
information, including the latest financial reports on Sabine Royalty
Trust, please visit our website at http://www.sbr-sabineroyalty.com/.
SOURCE U.S. 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 U.S. Trust
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