DALLAS, July 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 $0.55702 per unit, payable
on July 29, 2008, to unit holders of record on July 15, 2008.
This distribution reflects primarily the oil production for April 2008
and the gas production for March 2008. Preliminary production volumes are
approximately 36,189 barrels of oil and 548,361 Mcf of gas. Preliminary
prices are approximately $111.75 per barrel of oil and $8.93 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 36,189 548,361 $111.75 $8.93
Prior Month 35,232 486,734 $104.35 $8.56
Due to the timing of the end of the month of June, approximately
$589,000 of revenue received will be posted in the following month of July
in addition to normal receipts during July. 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 June and prior to this press release,
approximately $1,729,000 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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