<SEC-DOCUMENT>0001193125-16-612411.txt : 20160603
<SEC-HEADER>0001193125-16-612411.hdr.sgml : 20160603
<ACCEPTANCE-DATETIME>20160603150233
ACCESSION NUMBER:		0001193125-16-612411
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160603
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160603
DATE AS OF CHANGE:		20160603

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SABINE ROYALTY TRUST
		CENTRAL INDEX KEY:			0000710752
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL ROYALTY TRADERS [6792]
		IRS NUMBER:				756297143
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08424
		FILM NUMBER:		161695284

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 830650
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75283-0650
		BUSINESS PHONE:		2145082400

	MAIL ADDRESS:	
		STREET 1:		PO BOX 830650
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75283-0650
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d196699d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C.&nbsp;20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section 13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): June 3, 2016 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SABINE ROYALTY TRUST </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of Registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Texas</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1-8424</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>75-6297143</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Southwest Bank</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>P. O. Box 962020</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Fort
Worth, Texas</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>76162</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s Telephone Number, including area code: (855) 588-7839 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name, former address and former fiscal year, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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.): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;2.02.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Results of Operations and Financial Condition. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June 3, 2016, the Registrant issued a
press release announcing its monthly cash distribution to unitholders of record on June 15, 2016.&nbsp;A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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 &#147;filed&#148; 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. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top">Exhibits </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated June 3, 2016.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">S<SMALL>ABINE</SMALL> R<SMALL>OYALTY</SMALL> T<SMALL>RUST</SMALL></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">By:&nbsp;S<SMALL>OUTHWEST</SMALL> B<SMALL>ANK</SMALL>, T<SMALL>RUSTEE</SMALL></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">By:&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ RON E. HOOPER</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Ron E. Hooper</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><I>SVP Royalty Trust Management</I></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: June 3, 2016 </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center">Exhibit<BR>Number</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Description</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated June 3, 2016.</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d196699dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Sabine Royalty Trust </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g196699image1.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SABINE ROYALTY TRUST ANNOUNCES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MONTHLY CASH DISTRIBUTION FOR JUNE 2016 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Dallas, Texas, June 3, 2016</B> &#150; Southwest Bank, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash
distribution to the holders of its units of beneficial interest of $0.10262 per unit, payable on June 29, 2016, to unit holders of record on June 15, 2016. Sabine&#146;s cash distribution history, current and prior year financial reports and tax
information booklets, a link to filings made with the Securities and Exchange Commission and more can be found on its website at <B><U>http://www.sbr-sabine.com/</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This distribution reflects primarily the oil production for March 2016 and the gas production for February 2016.&nbsp;Preliminary production
volumes are approximately 27,743 barrels of oil and 562,611 Mcf of gas.&nbsp;Preliminary prices are approximately $32.59 per barrel of oil and $2.00 per Mcf of gas. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The table below compares this month&#146;s production and prices to the previous month&#146;s: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Net to Trust Sales<BR>Volumes</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Average Price</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Oil&nbsp;(bbls)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Gas&nbsp;(Mcf)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Oil<br>(per&nbsp;bbl)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Gas<br>(per&nbsp;Mcf)</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current Month</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27,743</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">562,611</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">32.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prior Month</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42,357</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">602,962</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">32.62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenues are only posted and distributed when they are received.&nbsp;Most energy companies normally issue
payment of royalties on or about the 25<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> 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.&nbsp;The revenues received after that date will be posted within 30 days of receipt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Due to the timing of the end of the month
of May, approximately $1,128,000 of revenue received will be posted in the following month of June in addition to normal receipts during June.&nbsp;Since the close of business in May and prior to this press release, approximately $178,000 in revenue
has been received. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Contact:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Ron Hooper</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">SVP, Royalty Trust Services</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Southwest Bank</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Toll Free (855) 588-7839</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g196699image1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g196699image1.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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MM_\ OEO\: #_ (2N^_YY6_\ WRW^- !_PE=]_P \K?\ [Y;_ !H /^$KOO\
MGE;_ /?+?XT '_"5WW_/*W_[Y;_&@ _X2N^_YY6__?+?XT '_"5WW_/*W_[Y
M;_&@ _X2N^_YY6__ 'RW^- !_P )7??\\K?_ +Y;_&@ _P"$KOO^>5O_ -\M
M_C0 ?\)7??\ /*W_ .^6_P : #_A*[[_ )Y6_P#WRW^- !_PE=]_SRM_^^6_
MQH /^$KOO^>5O_WRW^- !_PE=]_SRM_^^6_QH /^$KOO^>5O_P!\M_C0 ?\
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M_P : #_A*[[_ )Y6_P#WRW^- !_PE=]_SRM_^^6_QH /^$KOO^>5O_WRW^-
M!_PE=]_SRM_^^6_QH /^$KOO^>5O_P!\M_C0 ?\ "5WW_/*W_P"^6_QH /\
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M "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@
MH * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H ]-
MH X_Q7_R%(O^N(_]"- &%0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4
M% !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0
M 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 %
M !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 >FT <?XK_Y"D7_7$?\
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M7\Z *;6TZ1"5H)%C/1RI /XT 7M4T^"SM;*: R?Z0FXAV!QP#V ]: *,MM/
M 9H)(P>A=2,T *+2Y,7FBWE\O&=^PXQ]: &QP33!C%$[A?O%5)Q]: %2WGDE
M:)(9&D7J@4DC\* &.C1N4=2K#J",$4 -H * "@ H * "@ H * "@ H * /3:
M ./\5_\ (4B_ZXC_ -"- &%0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0
M4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 %
M!0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 6XU;^R;A@IV^='SCV?\
MQ% &Q;W<6IZ;(TYQ>6L,F#_?4H1_7_.: 'VCK;^&;>XCC9S%-YCB-]I.">O!
MR.E "Z?>&37;JVGB$27*\Q%MP#8_J,T 6()+66TGM6.4T]U8'')"]3^8;\Z
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M0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4
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M_P#(4B_ZXC_T(T 85 !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 %
M!0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4
M % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !
M0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0!Z;0!Q_BO_D*1?\ 7$?^A&@#
M"H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H *
M "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@
MH * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H *
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MTO\ A0 ?V;8_\^5O_P!^E_PH /[-L?\ GRM_^_2_X4 ']FV/_/E;_P#?I?\
M"@ _LVQ_Y\K?_OTO^% !_9MC_P ^5O\ ]^E_PH /[-L?^?*W_P"_2_X4 ']F
MV/\ SY6__?I?\* #^S;'_GRM_P#OTO\ A0 ?V;8_\^5O_P!^E_PH /[-L?\
MGRM_^_2_X4 ']FV/_/E;_P#?I?\ "@ _LVQ_Y\K?_OTO^% !_9MC_P ^5O\
M]^E_PH /[-L?^?*W_P"_2_X4 ']FV/\ SY6__?I?\* #^S;'_GRM_P#OTO\
MA0 ?V;8_\^5O_P!^E_PH /[-L?\ GRM_^_2_X4 ']FV/_/E;_P#?I?\ "@ _
MLVQ_Y\K?_OTO^% !_9MC_P ^5O\ ]^E_PH /[-L?^?*W_P"_2_X4 ']FV/\
MSY6__?I?\* #^S;'_GRM_P#OTO\ A0 ?V;8_\^5O_P!^E_PH /[-L?\ GRM_
M^_2_X4 ']FV/_/E;_P#?I?\ "@ _LVQ_Y\K?_OTO^% !_9MC_P ^5O\ ]^E_
MPH /[-L?^?*W_P"_2_X4 ']FV/\ SY6__?I?\* #^S;'_GRM_P#OTO\ A0 ?
MV;8_\^5O_P!^E_PH /[-L?\ GRM_^_2_X4 ']FV/_/E;_P#?I?\ "@ _LVQ_
MY\K?_OTO^% !_9MC_P ^5O\ ]^E_PH /[-L?^?*W_P"_2_X4 ']FV/\ SY6_
M_?I?\* #^S;'_GRM_P#OTO\ A0 ?V;8_\^5O_P!^E_PH /[-L?\ GRM_^_2_
MX4 ']FV/_/E;_P#?I?\ "@ _LVQ_Y\K?_OTO^% !_9MC_P ^5O\ ]^E_PH /
2[-L?^?*W_P"_2_X4 6J /__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
