EX-99.1 2 ex99_1.htm EHIBIT 99.1 PRESS RELEASE ex99_1.htm
EXHIBIT 99.1


 
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]


CROSS TIMBERS ROYALTY TRUST
DECLARES AUGUST CASH DISTRIBUTION

 
    Dallas, Texas, August 21, 2009 - U.S. Trust, Bank of America Private Wealth Management, as Trustee of the Cross Timbers Royalty Trust (NYSE - CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.160096 per unit, payable on September 15, 2009, to unitholders of record on August 31, 2009.  The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.
 
   
Underlying Sales
Volumes
  
Average Price
   
Oil
(Bbls)
  
Gas
(Mcf)
  
Oil
(per Bbl)
  
Gas
(per Mcf) 
Current Month                    
    
19,000
    
169,000
  
$
61.90
  
$
  5.05
                          
Prior Month
    
19,000
    
160,000
  
$
51.33
  
$
  4.97
 
Other
 
    XTO Energy Inc. (XTO Energy) has advised the trustee that increased oil prices for June production led to the full recovery of excess costs and accrued interest on properties underlying the Texas Working Interests which is again contributing to the current month distribution.  These increased oil prices led to a partial recovery of excess costs on properties underlying the Oklahoma Working Interests.  However, there were insufficient proceeds from the properties underlying the Oklahoma Working Interests to be included in this month’s distribution.
 
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
 
For more information on the Trust, please visit our web site at www.crosstimberstrust.com.
 
* * *

Contact:
Nancy G. Willis
Vice President
U.S. Trust, Bank of America
Private Wealth Management,
Trustee
Toll Free - 877-228-5084
 
 
Statements made in this press release, including those related to future realized oil prices and monthly distributions, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties which are detailed in Part I, Item 1A of the trust’s Annual Report on Form 10-K for the year ended December 31, 2008, which is incorporated by this reference as though fully set forth herein.  Although XTO Energy and the trustee believe that the expectations reflected in such forward-looking statements are reasonable, neither XTO Energy nor the trustee can give any assurance that such expectations will prove to be correct.