Sabine Royalty Trust Announces Monthly Cash Distribution for January

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Jan 05, 2010, 12:00 ET

DALLAS, Jan. 5 /PRNewswire-FirstCall/ -- Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.31518 per unit, payable on January 29, 2010, to unit holders of record on January 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 October 2009 and the gas production for September 2009, both including postings from the previous month's production. Preliminary production volumes are approximately 41,226 barrels of oil and 627,851 Mcf of gas. Preliminary average prices are approximately $74.62 per barrel of oil and $3.62 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      41,226      627,851     $74.62       $3.62

    Prior Month        25,168      428,634     $65.51       $3.18

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.

Due to the timing of the end of the month of December, approximately $132,000 of revenue received will be posted in the following month of January in addition to normal receipts during January. Since the close of business in December and prior to this press release, approximately $1,285,000 in revenue has been received.

Approximately $272,000 for 2009 Ad Valorem taxes is being deducted from this month's distribution as compared to $543,000 for 2008. These payments are normal expenditures at this time of year.

SOURCE Sabine Royalty Trust