DALLAS, June 3 /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 $0.48540 per unit, payable
on June 30, 2008, to unit holders of record on June 16, 2008.
This distribution reflects primarily the oil production for March 2008 and
the gas production for February 2008. Preliminary production volumes are
approximately 35,232 barrels of oil and 486,734 Mcf of gas. Preliminary
prices are approximately $104.35 per barrel of oil and $8.56 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 35,232 486,734 $104.35 $8.56
Prior Month 45,808 499,704 $95.42 $7.19
Due to the timing of the end of the month of May, approximately
$123,000 of revenue received will be posted in the following month of June
in addition to normal receipts during June. 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 May and prior to this press release, approximately
$1,710,000 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, Toll Free
Number, 1-800-365-6541
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