SABINE ROYALTY TRUST ANNOUNCES MONTHLY CASH DISTRIBUTION FOR JUNE 2024

Distribution Announcement - Argent Trust Company declared a cash distribution of $0.537640 per unit for the Sabine Royalty Trust, payable on June 28, 2024, to unit holders of record on June 17, 2024 [1] - The distribution reflects oil production for March 2024 and gas production for February 2024, with preliminary production volumes of approximately 75,929 barrels of oil and 1,359,458 Mcf of gas [2] Production and Pricing Analysis - The current month's distribution is lower than the previous month due to a decrease in oil production and a decrease in natural gas prices, although this was partially offset by an increase in oil prices and natural gas production [3] - Current prices are approximately $81.23 per barrel of oil and $2.13 per Mcf of gas, compared to the previous month's prices of $76.02 per barrel of oil and $2.53 per Mcf of gas [7] Revenue Posting and Timing - Revenues are distributed only after they are received, verified, and posted, with most energy companies issuing royalty payments around the 25th of each month [4] - Approximately $244,000 of revenue received in May will be posted in June, in addition to normal cash receipts during June, with about $890,000 in revenue received since the end of May [5]