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FREEPORT-MCMORAN OIL AND GAS ROYALTY TRUST ANNOUNCES NO DISTRIBUTION

 HOUSTON, Sept. 20 /PRNewswire/ -- Freeport-McMoRan Oil and Gas Royalty Trust (NYSE: FMR) announced that for the month of September 1993 the Trust's Class A costs (which include capital expenditures) exceeded Gross Proceeds by $286,570 or $.01913 per unit. The increase in Class A costs was the result of capital costs incurred in connection with the drilling of an exploratory well on West Delta Block 34, which totaled $529,585 or $.03536 per unit. As a result, there will be no distribution for the month of September. The quarterly distribution payable Oct. 8, 1993, will include $.03484 and $.04346 per unit for unit holders of record on July 30, 1993, and Aug. 31, 1993, respectively, totaling $.07830 per unit.
 As previously announced, Freeport-McMoRan Oil & Gas Co. a division of Freeport-McMoRan Inc. ("the working interest owner") advised the Trust that budgeted capital expenditures associated with the drilling of the exploratory well on West Delta Block 34 would negatively impact distributions for September 1993 and October 1993. The working interest owner has further advised the Trust that additional capital expenditures will be incurred related to such exploratory drilling and that those expenditures along with the current Class A costs deficit are expected to result in no distributions being made with respect to the fourth quarter of 1993.
 These results are not necessarily indicative of future monthly distribution amounts, which will depend on revenues received and future costs incurred.
 -0- 9/20/93
 /CONTACT: Nancy J. Pugsley, Freeport-McMoRan Oil and Gas, 713-216-4424/
 (FMR)


CO: Freeport-McMoRan Oil and Gas ST: Texas IN: OIL SU: DIV

JB-EH -- LA018 -- 3623 09/20/93 11:21 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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