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SAN JUAN BASIN ROYALTY TRUST FILES SUIT AGAINST MERIDIAN OIL AND SOUTHLAND ROYALTY COMPANY

 SAN JUAN BASIN ROYALTY TRUST FILES SUIT
 AGAINST MERIDIAN OIL AND SOUTHLAND ROYALTY COMPANY
 FORT WORTH, Texas, June 5 /PRNewswire/ -- Team Bank, as trustee of the San Juan Basin Royalty Trust (NYSE: SJT), has filed suit against Meridian Oil Inc. ("MOI") and Southland Royalty Company in state district court in Rio Arriba County, N.M.
 The principal asset of the trust consists of a 75 percent net overriding royalty interest carved out of certain of Southland's oil and gas leasehold and royalty interests in the San Juan Basin located in San Juan, Rio Arriba and Sandoval counties of northwestern New Mexico (the "Trust Properties"). MOI and Southland are the operators of the Trust Properties.
 The claims asserted and the relief sought on behalf of the trust in this lawsuit include breach of contract, violation of the operator's duties and breach of fiduciary duty. The relief sought includes compensatory and punitive damages as well as the equitable remedies of removal of Southland and MOI as operators and a partition of the Trust Properties.
 -0- 6/5/92
 /CONTACT: Lee Ann Anderson, vice president and trust officer of Team Bank, 817-884-4630/
 (SJT) CO: San Juan Basin Royalty Trust ST: Texas IN: OIL SU:


PS -- NY019 -- 7377 06/05/92 10:20 EDT
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Publication:PR Newswire
Date:Jun 5, 1992
Words:210
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