Business & Finance
Thu, June 30, 2011Wed, June 29, 2011Tue, June 28, 2011Mon, June 27, 2011Sun, June 26, 2011Fri, June 24, 2011Thu, June 23, 2011Wed, June 22, 2011Tue, June 21, 2011Mon, June 20, 2011Sun, June 19, 2011Sat, June 18, 2011Fri, June 17, 2011Thu, June 16, 2011Wed, June 15, 2011Mesa Royalty Trust Announces Trust Income for June 2011
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Published in Business and Finance on Wednesday, June 22nd 2011 at 7:11 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
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AUSTIN, Texas--([ BUSINESS WIRE ])--Mesa Royalty Trust (NYSE: MTR) announced the Trust income distribution for the month of June 2011. Unitholders of record on June 30, 2011 will receive distributions amounting to $0.219969024 per unit payable on July 29, 2011. The Trust received $344,751 and $30,788 from the New Mexico and Colorado portions of the San Juan Basin Properties. Royalty income from the Hugoton Properties totaled $127,977.
Effective January 1, 2011, the Trustee is also establishing a cash reserve for contingent liabilities and expenses in accordance with the Mesa Royalty Trust Indenture. The cash reserve will be established through the withholding ofcash received during 2011 of approximately $83,333 per monthly distribution amount, or up to $250,000 per quarter, until the cash reserve is $1.0 million.
This press release contains forward-looking statements. Although theworking interest owners haveadvised the Trustee that the working interest owners believe that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially includedelays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, and other factors described in the Trusta™s Form10-K for the year ended December 31, 2010 under aItem 1A. Risk Factors.a Statements made in this press release are qualified by the cautionary statements made insuch risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.