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SAN JUAN BASIN ROYALTY TRUST DECLARES CASH DISTRIBUTION

    SAN JUAN BASIN ROYALTY TRUST DECLARES CASH DISTRIBUTION
    FORT WORTH, Texas, Nov. 18 /PRNewswire/ -- Team Bank, as trustee of the San Juan Basin Royalty Trust (NYSE: SJT), today declared a cash distribution to the holders of its units of beneficial interest of $.020279 per unit, payable Dec. 13, 1991, to unit holders of record on Nov. 29, 1991.
    Royalty income for November was approximately $1,329,187. Administrative expenses were approximately $51,000, and excess production expenses from prior months were approximately $155,500, resulting in a distributable income of $1,122,687.  In accordance with the Royalty Conveyance, the excess of expenses over income in any month must be recovered from the subsequent months' royalty income. Additionally, in order for the trust to pay administrative expenses for September and October, the trustee borrowed funds totaling approximately $175,575.  The deferred charge created by this borrowing, plus approximately $1,900 in interest, was repaid.  Therefore, total cash to be distributed to unit holders on Dec. 13, 1991, is approximately $945,200, or $.020279 per unit.
    Production from the properties from which the Royalty was carved totaled approximately 2,413,600 Mcf.  The average gas price was $1.25 per Mcf.
    -0-          11/18/91
    /CONTACT:  Lee Ann Anderson, vice president and trust officer of Team Bank, 817-884-4417, for the trust/
    (SJT) CO:  San Juan Basin Royalty Trust ST:  Texas IN:  OIL SU:  DIV JT -- NY061 -- 1417 11/18/91 11:59 EST
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Publication:PR Newswire
Date:Nov 18, 1991
Words:242
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