MARINE PETROLEUM TRUST ANNOUNCES FIRST QUARTER CASH DISTRIBUTION

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Feb 17, 2022, 09:30 ET

DALLAS, Feb. 17, 2022 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.107485 per unit, payable on March 28, 2022, to unitholders of record on February 28, 2022. Marine's 2021 tax information, 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.marps-marine.com/. Additionally, printed reports can be requested and are mailed free of charge.

This distribution of $0.107485 per unit is slightly higher than the $0.106743 per unit distributed last quarter. As compared to the previous quarter, the volume of oil produced and included in this distribution increased slightly while the volume of natural gas has decreased. The price realized for both oil and natural gas produced and included in the current distribution increased this quarter. This distribution is higher than the $0.018129 per unit distributed in the comparable quarter in 2021. As compared to the comparable quarter in 2021, the volumes of both oil and natural gas produced and included in the current distribution and the price realized for both oil and natural gas have increased.

Marine's distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.