DALLAS, Sept. 4 /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 $0.64875 per unit, payable
on September 29, 2008, to unit holders of record on September 15, 2008.
This distribution reflects primarily the oil production for June 2008
and the gas production for May 2008, both including postings from the
previous month's production. Preliminary production volumes are
approximately 35,315 barrels of oil and 506,549 Mcf of gas. Preliminary
average prices are approximately $130.53 per barrel of oil and $11.00 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 35,315 506,549 $130.53 $11.00
Prior Month 43,765 560,527 $115.13 $10.11
Due to the timing of the end of the month of August, approximately
$190,000 of revenue received will be posted in the following month of
September in addition to normal receipts during September. 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 August and prior to this press
release, approximately $1,860,000 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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