EX-99.1 3 dex991.htm NEWS RELEASE DATED OCT. 21, 2003 News Release dated Oct. 21, 2003

EXHIBIT 99.1

 

[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]

 

CROSS TIMBERS ROYALTY TRUST

DECLARES OCTOBER CASH DISTRIBUTION

 

Dallas, Texas, October 21, 2003 – Bank of America, N.A., as Trustee of the Cross Timbers Royalty Trust (NYSE – CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.220535 per unit, payable on November 17, 2003, to unitholders of record on October 31, 2003. This distribution includes 2.5 cents per unit caused by a purchaser’s release of previously suspended revenue related to approximately 7,000 Bbls of oil. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions:

 

     Underlying Sales
Volumes
    Average Price
     Oil
(Bbls)
    Gas
(Mcf)
   

Oil

(per Bbl)

    Gas
(per Mcf)

Current Month

    32,300    234,000    $ 29.51    $ 5.18

Prior Month

    24,700    204,000    $ 28.79    $ 5.49

 

For more information on the Trust, please visit our web site at www.crosstimberstrust.com.

 

* * *

 

Contact:

   

Nancy G. Willis

Assistant Vice President

Bank of America, N.A.

Toll Free — 877/228-5084

www.crosstimberstrust.com