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SJT > SEC Filings for SJT > Form 8-K on 19-Apr-2013All Recent SEC Filings

Show all filings for SAN JUAN BASIN ROYALTY TRUST | Request a Trial to NEW EDGAR Online Pro



Results of Operations and Financial Condition, Financial Statements

Item 2.02 Results of Operations and Financial Condition.

On April 19, 2013, the San Juan Basin Royalty Trust (the "Trust") issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing, among other things, that it will not declare a cash distribution to the holders of its units of beneficial interest for the month of April 2013. Normally, a distribution would be made in April based principally upon production during the month of February 2013. However, this month revenues exceeded production costs by only $705,612, the Trust's 75% of which would be $529,209. Production costs for the previous month exceeded revenues by approximately $1.6 million. When such costs exceed revenues in any month, the excess is recovered out of future gross revenues before any further payment is made to the Trust. Cash available for distribution this month will be applied first to pay certain deferred administrative costs and to replenish the reserve maintained by the Trustee for liabilities and contingencies. The balance will be distributed in the next month in which sufficient funds are available to make a material distribution.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release, dated April 19, 2013.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall be deemed "furnished" and not "filed" with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

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