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 $0.124749 per unit, payable on June 12, 2009, to unitholders of record on May 29, 2009. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.
XTO Energy Inc. (XTO Energy) has advised the trustee that increased oil prices for March production led to the partial recovery of excess costs on properties underlying the Texas and Oklahoma Working Interests. However, there were not enough proceeds from the properties underlying the Texas and Oklahoma Working Interests to be included in this month's distribution.
Disclosure I am long Shares of CRT in my Oil and Gas Folio, I do not OWN xto shares at this time. I will be selling CRT shares this afternoon into this rally, purchased around $16.00 and will sell at $22.50.
Update just got stopped out at $22.50 on CRT.
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