| Sabine Royalty Trust is an express trust formed by Sabine Corp., as trustor, and InterFirst Bank Dallas, N.A., as trustee. Co.'s assets consist mainly of the Royalty Properties, which constitute interests in gross production of oil, gas and other minerals free of the costs of production. The Royalty Properties consist of royalty and mineral interests, including landowner's royalties, overriding royalty interests, minerals, production payments and any other similar, nonparticipatory interest, in certain producing and proved undeveloped oil and gas properties in Florida, Louisiana, Mississippi, New Mexico, Oklahoma and Texas, which represented by about 5,400 tracts of land at Dec 31 2006. |
