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0000950134-07-008787.txt : 20070423 0000950134-07-008787.hdr.sgml : 20070423 20070423150749 ACCESSION NUMBER: 0000950134-07-008787 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070420 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070423 DATE AS OF CHANGE: 20070423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAN JUAN BASIN ROYALTY TRUST CENTRAL INDEX KEY: 0000319655 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] IRS NUMBER: 756279898 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08032 FILM NUMBER: 07781463 BUSINESS ADDRESS: STREET 1: COMPASS BANK, TRUST DEPARTMENT STREET 2: 2525 RIDGMAR BOULEVARD SUITE 100 CITY: FORT WORTH STATE: TX ZIP: 76116 BUSINESS PHONE: 8668094553 MAIL ADDRESS: STREET 1: COMPASS BANK, TRUST DEPARTMENT STREET 2: 2525 RIDGMAR BOULEVARD SUITE 100 CITY: FORT WORTH STATE: TX ZIP: 76116 8-K 1 d45764e8vk.htm FORM 8-K e8vk

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 20, 2007

San Juan Basin Royalty Trust

(Exact name of registrant as specified in the Amended and Restated San Juan Basin Royalty Trust Indenture)


Texas (State or other jurisdiction of incorporation or organization)	1-8032 (Commission File Number)	75-6279898 (I.R.S. Employer Identification Number)

Compass Bank, Trust Department 2525 Ridgmar Boulevard, Suite 100 Fort Worth, Texas (Address of principal executive offices)		76116 (Zip Code)

Registrant’s telephone number, including area code: (866) 809-4553

N/A
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


		o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


		o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


		o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


		o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 2.02		Results of Operations and Financial Condition.

On April 20, 2007, the San Juan Basin Royalty Trust (the “Trust”) issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing, among other things, a monthly cash distribution to the holders of its units of beneficial interest of $7,017,638.03, or $0.150565 per unit, based principally upon production during the month of February 2007.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release, dated April 20, 2007.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall be deemed “furnished” and not “filed” with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	COMPASS BANK, AS TRUSTEE FOR THE SAN JUAN BASIN ROYALTY TRUST (Registrant)
	By:	/s/ Lee Ann Anderson
		Lee Ann Anderson
		Vice President and Senior Trust Officer

Date: April 23, 2007

(The Trust has no directors or executive officers.)

EX-99.1 2 d45764exv99w1.htm PRESS RELEASE exv99w1

Exhibit 99.1

San Juan Basin Royalty Trust

Compass Bank, Trustee
2525 Ridgmar Boulevard, Suite 100
Fort Worth, Texas 76116

News Release

San Juan Basin Royalty Trust
Declares Monthly Cash Distribution

FORT WORTH, Texas, April 20, 2007 — Compass Bank, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), today declared a monthly cash distribution to the holders of its units of beneficial interest of $7,017,638.03 or $0.150565 per unit, based principally upon production during the month of February 2007. The distribution is payable May 14, 2007, to unit holders of record as of April 30, 2007.

Gas production for the properties from which the royalty was carved (the “Underlying Properties”) totaled approximately 2,612,344 Mcf (2,835,673 MMBtu). Dividing revenues by production volume yielded an average gas price for February 2007 of $6.53 per Mcf ($6.02 per MMBtu) as compared to $5.39 per Mcf ($5.00 per MMBtu) for January 2007. The average gas price may vary significantly from the posted index price for the San Juan Basin. The index price is a gross sales price, and the revenues used in the calculation of average gas prices are net of transportation, processing and gathering costs. Furthermore, the distribution to the Trust in any given month may include significant volume adjustments for sales in prior months that reflect pricing for those prior months. Capital costs for the month were $3,499,243. Lease operating expenses were $2,353,389 and taxes were $1,737,966.

This month’s distribution increased from the prior month primarily due to higher average gas prices and lower production costs. Production volumes for this period were reduced by 180,010 Mcf due to accrual adjustments in ConocoPhillips’ settlement process for October 2006 production. Market conditions continue to affect natural gas pricing. It is difficult to predict what effect these conditions will have on future distributions.


Contact:		San Juan Basin Royalty Trust
		Lee Ann Anderson, Vice President and Senior Trust Officer
		Kaye Wilke, Investor Relations, toll-free: (866) 809-4553
		Fax: (817) 735-0936

		Website: www.sjbrt.com
		E-mail: sjt@compassbank.com