8-K

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): March 3, 2010

SABINE ROYALTY TRUST

(Exact name of Registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization) 1-8424
(Commission
File Number) 76-6297143
(I.R.S. Employer
Identification No.)

U.S. Trust, Bank of America
Private Wealth Management
901 Main Street, 17th Floor
Dallas, Texas
(Address of principal executive offices) 75202
(Zip Code)

Registrant’s Telephone Number, including area code: (214) 209-2400

Not Applicable

(Former name, former address and former fiscal year, 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 (see General Instruction A.2.):

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 March 3, 2010, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on March 15, 2010. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

     This Report on Form 8-K is being furnished pursuant to Item 2.02, Results of Operations and Financial Condition. The information furnished is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

d. Exhibits

99.1 Press Release dated March 3, 2010.

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 thereunto duly authorized.

Sabine Royalty Trust
By:	Bank of America, N.A., Trustee
By:	/s/ RON E. HOOPER
	Ron E. Hooper
	Senior Vice President and Administrator

Date: March 5, 2010

EXHIBIT INDEX

Exhibit
Number		Description
	99.1	Press Release dated March 3, 2010.

EX-99.1

Exhibit 99.1

Sabine Royalty Trust

News Release

SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR MARCH

     Dallas, Texas, March 3, 2010 — Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.18204 per unit, payable on March 29, 2010, to unit holders of record on March 15, 2010. 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 December 2009 and the gas production for November 2009, both including postings from the previous month’s production. Preliminary production volumes are approximately 19,661 barrels of oil and 352,073 Mcf of gas. Preliminary average prices are approximately $72.31 per barrel of oil and $4.56 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		19,661		352,073	$	72.31	$	4.56
Prior Month		38,237		486,557	$	72.35	$	4.05

     Revenues are only posted and distributed when they are received. Most energy companies normally issue payment of royalties on or about the 25^th 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 February, approximately $79,000 of revenue received will be posted in the following month of March in addition to normal receipts during March. Since the close of business in February and prior to this press release, approximately $2,944,000 in revenue has been received.

     The 2009 tax information packets are being mailed directly to unitholders throughout the first week of March. A copy of the 2009 Tax Information booklet is now available on the Trust website. A simple cost depletion calculator is also now available on the Trust website for the convenience of unitholders.

* * *

Contact: Ron E. Hooper
Senior Vice President
U.S. Trust, Bank of America Private Wealth Management, Trustee
Toll Free Number: 1.800.365.6541