EX-99.1 2 d60137exv99w1.htm PRESS RELEASE exv99w1
Exhibit 99.1
Sabine Royalty Trust
News Release
SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR SEPTEMBER
     Dallas, Texas, September 4, 2008 – U.S. Trust, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.64875 per unit, payable on September 29, 2008, to unit holders of record on September 15, 2008.
     This distribution reflects primarily the oil production for June 2008 and the gas production for May 2008, both including postings from the previous month’s production. Preliminary production volumes are approximately 35,315 barrels of oil and 506,549 Mcf of gas. Preliminary average prices are approximately $130.53 per barrel of oil and $11.00 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
     35,315       506,549     $ 130.53     $ 11.00  
 
                                
Prior Month
     43,765       560,527     $ 115.13     $ 10.11  
     Due to the timing of the end of the month of August, approximately $190,000 of revenue received will be posted in the following month of September in addition to normal receipts during September. 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. Since the close of business in August and prior to this press release, approximately $1,860,000 in revenue has been received. For the latest financial reports on Sabine Royalty Trust, please visit our website at http://www.sbr-sabineroyalty.com/.
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  Contact:   Ron E. Hooper
 
      Senior Vice President
 
      U.S. Trust, Bank of America Private Wealth Management
 
      Toll Free Number: 1.800.365.6541