DALLAS, May 5 /PRNewswire-FirstCall/ -- U.S. Trust, as Trustee of the
Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the
holders of its units of beneficial interest of $0.49698 per unit, payable
on May 29, 2008, to unit holders of record on May 15, 2008.
This distribution reflects primarily the oil production for February
2008 and the gas production for January 2008. Preliminary production
volumes are approximately 45,808 barrels of oil and 499,704 Mcf of gas.
Preliminary prices are approximately $95.42 per barrel of oil and $7.19 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 45,808 499,704 $95.42 $7.19
Prior Month 34,992 511,578 $89.94 $7.15
Due to the timing of the end of the month of April, approximately
$861,000 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 $950,000 in revenue has been received.
For 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 U.S.
Trust, Bank of America Private Wealth Management, 1-800-365-6541
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