DALLAS, July 6 /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
$0.37996 per unit, payable on July 31, 2006, to unit holders of record on
July 17, 2006.
This distribution reflects primarily the oil production for April 2006 and
the gas production for March 2006. Preliminary production volumes are
approximately 41,026 barrels of oil and 512,887 mcf of gas. Preliminary
prices are approximately $65.05 per barrel of oil and $6.60 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 41,026 512,887 $65.05 $6.60
Prior Month 42,280 440,986 $59.79 $7.04
Due to the timing of the end of the month of June, approximately
$238,000 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 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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