DALLAS, Oct. 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
$0.43000 per unit, payable on October 29, 2007, to unit holders of record
on October 15, 2007.
This distribution reflects primarily the oil production for July 2007 and
the gas production for June 2007. Preliminary production volumes are
approximately 45,150 barrels of oil and 716,097 mcf of gas. Preliminary
prices are approximately $68.19 per barrel of oil and $5.32 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 45,150 716,097 $68.19 $5.32
Prior Month 27,168 494,382 $62.58 $6.53
Due to the timing of the end of the month of September, approximately
$34,000 of revenue received will be posted in the following month of
October in addition to normal receipts during October. 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 September and prior to this
press release, approximately $1,695,000 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.
 back to top
Related links:
http://www.sbr-sabineroyalty.com
CONTACT:
Ron E. Hooper, Senior Vice President of Bank
of America, N.A., 1-800-365-6541
|
