DALLAS, June 5 /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
$0.27977 per unit, payable on June 29, 2007, to unit holders of record on
June 15, 2007.
This distribution reflects primarily the oil production for March 2007 and
the gas production for February 2007. Preliminary production volumes are
approximately 29,513 barrels of oil and 444,977 mcf of gas. Preliminary
prices are approximately $57.30 per barrel of oil and $6.82 per mcf of gas.
The table below compares this month's production and prices to the previous
months:
Net to Trust Sales Average Price
Volumes
Oil Gas Oil Gas
(Bbls) (Mcf) (per Bbl) (per Mcf)
Current Month 29,513 444,977 $57.30 $6.82
Prior Month 47,576 440,614 $54.93 $6.68
Due to the timing of the end of the month of May, approximately
$119,000 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 April and prior to this press release,
approximately $2,156,000 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 of Bank
of America, N.A., 1-800-365-6541
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