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LL&E Royalty Trust Announces Trust Income Distribution.

HOUSTON--(BUSINESS WIRE)--Nov. 25, 1996--LL&E Royalty Trust (NYSE SYMBOL - LRT) announced today the Trust income distribution for the month of December, 1996.

This distribution represents amounts payable to the Trust with respect to production for the month of September, 1996. Unit holders of record on Dec. 5, 1996 will receive a distribution amounting to $1,025,991.02 or approximately $.0540 per Unit payable on Dec. 13, 1996.

This distribution includes no proceeds from Offshore Louisiana due to excess production costs totaling $57 thousand for the current month. Excess production costs to be recouped from future proceeds from Offshore Louisiana totaled $57 thousand. Also, this distribution includes no proceeds from Fort Worth Basin. Remaining excess production costs to be recouped from future proceeds from Fort Worth Basin totaled $13.7 thousand. (The Trust's interest is equivalent to 90 percent of the net proceeds from Offshore Louisiana and Fort Worth Basin.)

Based on calculations made using the most recent reserve report, the Working Interest Owner, under the terms of the Trust documents, is permitted to escrow funds for estimated future costs such as dismantlement costs and capital expenditures for three of the properties in which the Trust has an interest. The total current estimated dismantlement cost for the Offshore Louisiana property is $2.0 million. $2.4 million has been escrowed for future dismantlement costs as of the current month. (The Trust's interest is equivalent to 90 percent of the net proceeds from Offshore Louisiana.) The Working Interest Owner has informed the Trustee that it has not elected to escrow any additional funds at this time. However, the Working Interest Owner intends to continue to closely monitor each of the properties in which the Trust has an interest for possible changes in relevant factors which may warrant a need for additional escrows.

The extent of future distributions from the properties in which the Trust has an interest will continue to be dependent on normal factors associated with oil and gas operations such as oil and gas production levels, prices and associated cost, timing and extent of capital expenditures.

CONTACT: Mary V.K. Morris, Texas Commerce Bank,

Trustee, 713/216-6369
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Publication:Business Wire
Date:Nov 25, 1996
Words:360
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