DALLAS, May 3 /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
$0.34042 per unit, payable on May 29, 2007, to unit holders of record on
May 15, 2007.
This distribution reflects primarily the oil production for February 2007
and the gas production for January 2007. Preliminary production volumes are
approximately 47,576 barrels of oil and 440,614 mcf of gas. Preliminary
prices are approximately $54.93 per barrel of oil and $6.68 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 47,576 440,614 $54.93 $6.68
Prior Month 40,567 463,979 $51.73 $6.59
Due to the timing of the end of the month of April, approximately
$182,000 of revenue received will be posted in the following month of May
in addition to normal receipts during May. 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 April and prior to this press release,
approximately $858,000 in revenue has been received.
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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