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, July 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 $14,228,495 or $0.305275 per unit, based principally upon production during the month of May 2007. The distribution is payable August 14, 2007, to unit holders of record as of July 31, 2007.

     Gas production for the properties from which the royalty was carved (the “Underlying Properties”) totaled approximately 3,606,928 Mcf (3,851,294 MMBtu). Dividing revenues by production volume yielded an average gas price for May 2007 of $6.55 per Mcf ($6.13 per MMBtu) as compared to $6.02 per Mcf ($5.65 per MMBtu) for April 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 $657,164. Lease operating expenses were $2,436,201 and taxes were $2,323,160

     As part of the ongoing negotiations between the Trust and Burlington Resources Oil and Gas Company LP concerning a number of revenue and expense audit issues, the calculation of this month’s distribution included $639,094 in interest on the late payment of gross proceeds, and capital costs were reduced by approximately $462,321.

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