Sabine Royalty Trust Announces Monthly Cash Distribution for September
04 September 2009 - 1:30AM
PR Newswire (US)
DALLAS, Sept. 3 /PRNewswire-FirstCall/ -- Sabine Royalty Trust
(NYSE: SBR), today declared a cash distribution to the holders of
its units of beneficial interest of $0.23673 per unit, payable on
September 29, 2009, to unit holders of record on September 15,
2009. Sabine's cash distribution history, current and prior year
financial reports, a link to filings made with the Securities and
Exchange Commission and more can be found on its website at
http://www.sbr-sabineroyalty.com/. This distribution reflects
primarily the oil production for June 2009 and the gas production
for May 2009, both including postings from the previous month's
production. Preliminary production volumes are approximately 40,400
barrels of oil and 426,879 Mcf of gas. Preliminary average prices
are approximately $63.06 per barrel of oil and $3.18 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 40,400 426,879
$63.06 $3.18 Prior Month 25,615 474,362 $58.21 $3.39 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. Due to the timing of
the end of the month of August, approximately $434,000 of revenue
received will be posted in the following month of September in
addition to normal receipts during September. Since the close of
business in August and prior to this press release, approximately
$492,000 in revenue has been received. DATASOURCE: Sabine Royalty
Trust CONTACT: Ron E. Hooper, Senior Vice President of U.S. Trust,
Bank of America Private Wealth Management, Trustee, 1-800-365-6541,
for Sabine Royalty Trust Web Site:
http://www.sbr-sabineroyalty.com/
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