Core Viewpoint - Mesa Royalty Trust announced its income distribution for September 2025, with unitholders receiving $0.001723157 per unit, payable on October 31, 2025, primarily from its San Juan Basin properties operated by Hilcorp San Juan LP [1][2]. Group 1: Trust Income Distribution - The Trust's income for September 2025 totaled $20,029, all derived from the New Mexico portion of its San Juan Basin properties [1]. - After administrative expenses, the distributable net profits amounted to $3,211 for the month [1]. - The distribution amount is subject to fluctuation based on production, oil and natural gas prices, and administrative expenses [2]. Group 2: Trust Structure and Operations - Mesa Royalty Trust holds an overriding royalty interest in oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado [2]. - Monthly distributions are expected to be materially reduced until the Trust increases its cash reserves to $2.0 million for added liquidity [2]. Group 3: Future Projections and Risks - Proceeds reported by working interest owners may not be indicative of future net proceeds for the Trust [3]. - Accumulated excess production costs may lead to reduced distributions or no distributions in certain periods [3]. - The Trust's ability to pay distributions is directly affected by industry volatility and reported revenues and expenses from working interest owners [3].