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TEL OFFSHORE TRUST ANNOUNCES TRUST'S QUARTERLY INCOME DISTRIBUTION

 TEL OFFSHORE TRUST ANNOUNCES TRUST'S QUARTERLY INCOME DISTRIBUTION
 HOUSTON, Dec. 20 /PRNewswire/ -- Tel Offshore Trust (NASDAQ: TELOZ) today announced the trust's quarterly income distribution for the fourth quarter of 1991. The amount available for distribution will be $416,743.06 or $.087707 per unit. The fourth quarter distribution will be payable on Jan. 10, 1992, to unit holders of record on Dec. 31, 1991.
 Crude oil revenues for the 1991 fourth quarter decreased 9 percent compared to the third quarter of 1991 due primarily to an 11 percent decrease in crude oil and condensate volumes from 158,000 barrels in the 1991 third quarter to 141,000 barrels in the 1991 fourth quarter offset in part by an increase in the average price received for crude oil and condensate from $18.63 per barrel in the third quarter of 1991 to $18.85 per barrel in the fourth quarter of 1991.
 Gas revenues increased approximately 22 percent for the 1991 fourth quarter due primarily to an increase in natural gas volumes to 810,000 Mcf in the 1991 fourth quarter compared with 610,000 Mcf in the third quarter of 1991. Such increase was offset in part by a decrease in the average price received for natural gas from $1.78 per Mcf in the 1991 third quarter to $1.64 per Mcf in the fourth quarter of 1991.
 The trust's share of capital expenditures increased significantly from approximately $25,000 in the 1991 third quarter to approximately $200,000 in the 1991 fourth quarter primarily due to platform upgrades on the Ship Shoal 182/183 property. In addition, general and administrative expenses of the trust increased from approximately $107,000 in the third quarter of 1991 to approximately $168,000 in the 1991 fourth quarter, primarily due to increases in insurance costs and additional mailing costs associated with notification of the resignation of an individual trustee of the trust and the appointment of a successor individual trustee. Upon review of general and administrative trust expenses during 1991 and in anticipation of the future level of trust expenses, the trust has determined, in accordance with the trust agreement of the trust, to increase the trust's cash reserve for future trust expenses from $40,000 to $120,000.
 The current estimate of aggregate future capital expenditures and abandonment costs, aggregate future production costs, aggregate future net revenues and current net proceeds resulted in a release of funds from the special cost escrow account in the fourth quarter of 1991 amounting to $200,000. As discussed above, the release of funds from the special cost escrow account was offset by approximately the same amount of capital expenditures in the fourth quarter of 1991. Although amounts were not required to be placed in the special cost escrow account for the fourth quarter of 1991, additional deposits may be required in future periods in connection with drilling projects, other capital expenditures and abandonment costs, and changes in the estimates and factors described above.
 -0- 12/20/91
 /CONTACT: Debbie Miller of the Texas Commerce Bank National Association, 713-236-5712, for Tel Offshore Trust/
 (TELOZ) CO: Tel Offshore Trust ST: Texas IN: OIL SU: DIV


GK -- NY022 -- 4287 12/20/91 10:49 EST
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Publication:PR Newswire
Date:Dec 20, 1991
Words:538
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