EX-99.1 3 dex991.htm NEWS RELEASE News Release

EXHIBIT 99.1

 

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

 

CROSS TIMBERS ROYALTY TRUST

DECLARES NOVEMBER CASH DISTRIBUTION

 

Dallas, Texas, November 17, 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 $0.172969 per unit, payable on December 12, 2003, to unitholders of record on November 28, 2003. The prior month distribution included a purchaser’s release of previously suspended revenue, increasing prior month oil volumes by 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

    24,100    221,000    $ 25.82    $ 5.08

Prior Month

    32,300    234,000    $ 29.51    $ 5.18

 

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

 

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Contact:

    Nancy G. Willis
     Assistant Vice President
     Bank of America, N.A.
     Toll Free – 877/228-5084
     www.crosstimberstrust.com