San Juan Basin Royalty Trust

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Headquartered in Fort Worth, Texas, San Juan Basin Royalty Trust was established in November 1980 by a trust indenture between Southland Royalty and The Fort Worth National Bank. The trust was created to oversee the royalty interest carved out of Southland Royalty s oil and gas leasehold and royalty interest in the San Juan Basin of northwestern New Mexico. This net overriding royalty interest is the principal asset of the trust. Under the indenture, TexasBank has the primary function of collecting monthly net proceeds attributable to the royalty and making monthly distributions to unit holders after deducting administrative expenses and any amounts necessary for cash reserves. The San Juan Basin Royalty Trust is listed on the New York Stock Exchange under the symbol SJT.