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<SEC-DOCUMENT>0000950134-05-001167.txt : 20050124
<SEC-HEADER>0000950134-05-001167.hdr.sgml : 20050124
<ACCEPTANCE-DATETIME>20050124125209
ACCESSION NUMBER:		0000950134-05-001167
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050121
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050124
DATE AS OF CHANGE:		20050124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAN JUAN BASIN ROYALTY TRUST
		CENTRAL INDEX KEY:			0000319655
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL ROYALTY TRADERS [6792]
		IRS NUMBER:				756279898
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08032
		FILM NUMBER:		05543748

	BUSINESS ADDRESS:	
		STREET 1:		TEXASBANK, TRUST DEPARTMENT
		STREET 2:		2525 RIDGMAR BOULEVARD SUITE 100
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76116
		BUSINESS PHONE:		8668094553

	MAIL ADDRESS:	
		STREET 1:		TEXASBANK, TRUST DEPARTMENT
		STREET 2:		2525 RIDGMAR BOULEVARD SUITE 100
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76116
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d21879e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



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<HR size="1" noshade color="#000000" style="margin-top: -10px">




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>


<P align="center" style="font-size: 10pt"><B>___________________</B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<DIV align="center" style="font-size: 12pt"><B>CURRENT REPORT</B></DIV>


<P align="center" style="font-size: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d)<BR>
of the Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): January&nbsp;21, 2005</B>


<P align="center" style="font-size: 10pt"><B>___________________</B>

<P align="center" style="font-size: 24pt"><B>San Juan Basin Royalty Trust</B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in the
Amended and Restated San Juan Basin Royalty Trust Indenture)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Texas<BR>
(State or other jurisdiction of<BR>
incorporation or organization)<BR>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-8032<BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">75-6279898<BR>
(I.R.S. Employer<BR>
Identification Number)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">TexasBank, Trust Department<BR>
2525 Ridgmar Boulevard, Suite&nbsp;100<BR>
Fort Worth, Texas<BR>
(Address of principal<BR>
executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">76116<BR>
(Zip code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: (866)&nbsp;809-4553


<P align="center" style="font-size: 10pt">N/A<BR>
(Former name or former address, if changed since last report.)

<P style="font-size: 10pt; text-align: justify">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:


<P style="font-size: 10pt; text-align: justify"><FONT style="font-family: Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)


<P style="font-size: 10pt; text-align: justify"><FONT style="font-family: Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)


<P style="font-size: 10pt; text-align: justify"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


<P style="font-size: 10pt; text-align: justify"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



<P>
<HR size="1" noshade color="#000000" style="margin-top: -2px">
<HR size="4" noshade color="#000000" style="margin-top: -10px">





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
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	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;2.02 Results of Operations and Financial Condition.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01 Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="d21879exv99w1.htm">Press Release</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;2.02 Results of Operations and Financial Condition." -->
<DIV align="left"><A NAME="000"></A></DIV>

<P style="font-size: 10pt; text-align: justify"><B>Item&nbsp;2.02 Results of Operations and Financial Condition</B>.



<P style="font-size: 10pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;21, 2005, the San Juan Basin Royalty Trust issued a press release, a copy of which
is attached hereto as Exhibit&nbsp;99.1, announcing a monthly cash distribution to the holders of its
units of beneficial interest of $13,794,342.53, or $0.295960 per unit, based principally upon
production during the month of November&nbsp;2004.

<!-- link2 "Item&nbsp;9.01 Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P style="font-size: 10pt; text-align: justify"><B>Item&nbsp;9.01 Financial Statements and Exhibits</B>.



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD><DIV style="text-align: justify">Exhibits.</DIV></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">99.1&nbsp;&nbsp;</TD>
    <TD><DIV style="text-align: justify">Press release, dated January&nbsp;21, 2005.</DIV></TD>
</TR>

</TABLE>


<P style="font-size: 10pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall
be deemed &#147;furnished&#148; and not &#147;filed&#148; with the Securities and Exchange Commission for purposes of
Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that section.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>


<P style="font-size: 10pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">TEXASBANK, AS TRUSTEE FOR THE<BR>
SAN JUAN BASIN ROYALTY TRUST<BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Lee Ann Anderson
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Lee Ann Anderson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President and Trust Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Date: January&nbsp;24, 2005


<P align="center" style="font-size: 10pt">(The Trust has no directors or executive officers.)



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d21879exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;99.1</B>



<P style="font-size: 14pt; text-align: justify"><B>San Juan Basin Royalty Trust</B>



<P align="left" style="font-size: 10pt">TexasBank, Trustee<BR>
2525 Ridgmar Boulevard Suite&nbsp;100<BR>
Fort Worth, Texas 76116


<P align="right" style="font-size: 14pt"><B>NEWS RELEASE</B>



<P align="left" style="font-size: 12pt"><B>San Juan Basin Royalty Trust<BR>
Declares Monthly Cash Distribution</B>



<P style="font-size: 10pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FORT WORTH, Texas, January&nbsp;21, 2005  &#151;  TexasBank, 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 $13,794,342.53 or $0.295960 per unit, based principally upon production
during the month of November&nbsp;2004. The distribution is payable February&nbsp;14, 2005, to unit holders
of record as of January&nbsp;31, 2005.


<P style="font-size: 10pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gas production for the properties from which the royalty was carved (the &#147;Underlying
Properties&#148;) totaled approximately 3,695,278 Mcf (3,983,638 MMBtu). Dividing revenues by
production volume yielded an average gas price for November&nbsp;2004 of $6.62 per Mcf ($6.14 per
MMBtu) as compared to $4.67 per Mcf ($4.33 per MMBtu) for October&nbsp;2004. 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 $1,611,210. Lease operating
expense was $1,769,972 and taxes were $2,816,163.


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>Contact:&nbsp;</TD>
    <TD><DIV style="text-align: justify">San Juan Basin Royalty Trust<BR>
Lee Ann Anderson, Vice President and Trust Officer<BR>
Kaye Wilke, Investor Relations, toll-free: (866)&nbsp;809-4553<BR>
Fax: (817)&nbsp;735-0936<BR><BR>
Website: <U>www.sjbrt.com</U><BR>
e-mail: sjt@texasbank.com<BR>
NYSE Symbol: SJT</DIV></TD>
</TR>
</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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