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 $4,609,160.98 or $0.098890 per unit, based
principally upon production during the month of December 2008. The
distribution is payable March 13, 2009, to unit holders of record as of
February 27, 2009.
Gas production for the properties from which the royalty was carved (the
“Underlying Properties”) totaled approximately 2,890,571 Mcf (3,112,804
MMBtu). Dividing revenues by production volume yielded an average gas
price for December 2008 of $4.38 per Mcf ($4.07 per MMBtu) as compared
to $3.15 per Mcf ($2.91 per MMBtu) for November 2008. 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 $2,724,217. Lease operating expenses
were $2,459,105 and taxes were $1,256,888.
San Juan Basin Royalty Trust
Compass Bank
Lee Ann Anderson,
866-809-4553
Vice President & Senior Trust Officer
or
Kaye
Wilke, 866-809-4553
Investor Relations
Fax: 817-735-0936
www.sjbrt.com
sjt@compassbank.com
