EXHIBIT 23.1

CONSENT OF CAWLEY, GILLESPIE & ASSOCIATES INC.

[LETTERHEAD]

March 9, 2007

Permian Basin Royalty Trust
Bank of America, N.A., Trustee
901 Main Street, 17^th Floor
Dallas, Texas 75202-3714

Gentlemen:

     Cawley, Gillespie & Associates, Inc. hereby consents to the use of the oil and gas reserve information in the Permian Basin Royalty Trust Securities and Exchange Commission Form 10-K for the year ending December 31, 2006 and in the Permian Basin Royalty Trust Annual Report for the year ending December 31, 2006, based on reserve reports dated February 20, 2007, prepared by Cawley, Gillespie & Associates, Inc.

Submitted,

CAWLEY, GILLESPIE & ASSOCIATES, INC.
By:	/s/ KENNETH J. MUELLER
	Kenneth J. Mueller, Vice President