DALLAS, Aug. 3 /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
$0.39044 per unit, payable on August 29, 2007, to unit holders of record on
August 15, 2007.
This distribution reflects primarily the oil production for May 2007 and
the gas production for April 2007. Preliminary production volumes are
approximately 48,667 barrels of oil and 536,291 mcf of gas. Preliminary
prices are approximately $55.66 per barrel of oil and $6.77 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 48,667 536,291 $55.66 $6.77
Prior Month 34,967 510,994 $57.42 $6.92
Due to the timing of the end of the month of July, approximately
$291,000 of revenue received will be posted in the following month of
August in addition to normal receipts during August. 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 July and prior to this press
release, approximately $329,000 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 Bank of America, N.A.
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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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