DALLAS, May 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
$0.24292 per unit, payable on May 30, 2006, to unit holders of record on
May 15, 2006.
This distribution reflects primarily the oil production for February 2006
and the gas production for January 2006. Preliminary production volumes are
approximately 28,611 barrels of oil and 299,586 mcf of gas. Preliminary
prices are approximately $55.94 per barrel of oil and $7.88 per mcf of gas.
The table below compares this month's production and prices to the previous
month's:
Net to Trust Sales
Volumes Average Price
Oil Gas Oil Gas
(Bbls) (Mcf) (per Bbl) (per Mcf)
Current Month 28,611 299,586 $55.94 $7.88
Prior Month 53,279 529,551 $56.27 $8.90
Due to the timing of the end of the month of April, approximately
$195,000 of revenue received will be posted in the following month of May
in addition to normal receipts during May. A significant factor to the
lower distribution this month is the timing of the end of April. Most
energy companies normally issue payment of royalties on or about the 25th
of every month and with April, a substantial amount of royalties was not
received until after the revenue posting of April 28th. The revenues
received after that date are posted with within 30 days of receipt.
For the 2005 Annual Report and Form 10-K 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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