DALLAS, Sept. 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 $0.30230 per unit, payable on September 28, 2007, to unit
holders of record on September 17, 2007.
This distribution reflects primarily the oil production for June 2007 and
the gas production for May 2007. Preliminary production volumes are
approximately 27,168 barrels of oil and 494,382 mcf of gas. Preliminary
prices are approximately $62.58 per barrel of oil and $5.46 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 27,168 494,382 $62.58 $6.53
Prior Month 48,667 536,291 $55.66 $6.77
Due to the timing of the end of the month of August, approximately
$581,000 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 $2,289,000 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, for Sabine Royalty Trust
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