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Permian Basin Royalty Trust Announces March Cash Distribution

        Permian Basin Royalty Trust Announces March Cash Distribution

PR Newswire

DALLAS, March 18, 2013

DALLAS, March 18, 2013 /PRNewswire/ -- Permian Basin Royalty Trust (NYSE: PBT)
("Permian") today declared a cash distribution to the holders of its units of
beneficial interest of $0.057998 per unit, payable on April 12, 2013, to unit
holders of record on March 28, 2013.

This month's distribution increased from the previous month due to increased
production of both oil and gas allocated to the Trust and reduced capital
expenditures as the 2012 budget pays out. Production for the Trust's
allocated portion of the Waddell Ranch and the Texas Royalty Properties
combined for oil and gas respectively was 25,862 bbls and 26,867 Mcf. The
average price for oil was $78.43 per bbl and for gas was $3.15 per Mcf. This
would primarily reflect production for the month of January for oil and the
month of December for gas. The worldwide market conditions continue to affect
the pricing for domestic production. It is difficult to predict what effect
these conditions will have on future distributions.

              Underlying Properties Net to Trust Sales
              Volumes               Volumes             Average   Price
              Oil        Gas        Oil       Gas       Oil       Gas
              (per bbl)  (per Mcf)  (per bbl) (per Mcf) (per bbl) (per Mcf)
Current Month 88,327     447,626    25,862*   26,867*   $78.43    $3.15**
Prior Month   89,667     343,309    19,839*   23,390*   $77.71    $4.01**

*These volumes are the net to the trust, after allocation of expenses to
Trust's net profit interest.
**This pricing includes sales of gas liquid products.

Approximately five workover wells were completed in the month of January along
with one completed horizontal well. Two horizontal wells remain, as of
1/31/13, not completed. Capital expenditures were approximately $2,505,457.
The numbers provided reflect what was net to the Trust. Due to the allocation
method of paying for capital expenditures and lease operating expenses, the
Trust's net volumes are reduced in order to pay these expenditures.

The results of the 2012 capital expenditure program on the Waddell Ranch
Properties, along with the proposed 2013 budget, will be discussed more
thoroughly in the Trust's 10-K filing, due March 1, and in the Annual Report,
to be mailed to unitholders by the end of March 2013.

Permian Basin Royalty Trust, as it does after the end of each year, had a
year-end Reserve Report prepared in accordance with the Securities and
Exchange Commission's requirements. This report provides an evaluation of the
estimated asset value as of December 31 of each year, which can be used to
estimate the remaining life of the Trust.

The estimated net proved reserves, as of January 1, 2013, attributable to the
Trust from the properties appraised are approximately 6.4 million barrels of
oil and 18.3 billion cubic feet of gas with a future net value of
approximately $662,533,000 with a discounted value of $354,060,000.

With the estimated quantities of this year's reserve estimate of 6.4 million
barrels of oil and 18.3 billion cubic feet of gas remaining, it could be
estimated that the Trust still has a life span of 11 to 13 years. The report
is an exhibit to the Trust's Annual Report on Form 10-K that was filed on
March 1, 2013 and is available to all unitholders at this time on the SEC
website.

The Trustee continues to evaluate the claim of $4,542,547 overpayment that was
recouped by ConocoPhillips back in September and October 2011.

The 2012 tax information packets were mailed to unitholders the week of March
4, 2013. A copy of Permian's 2012 tax information booklet is posted on
Permian's website. In addition to the tax booklet the Permian website also
offers two simple calculators for computing the income and expense amounts and
the cost depletion. The calculators are updated with the 2012 tax
information.

Permian's cash distribution history, current and prior year financial reports
and tax information booklets, a link to filings made with the Securities and
Exchange Commission and more can be found on its website at
http://www.pbt-permianbasintrust.com/

SOURCE Permian Basin Royalty Trust

Website: http://www.pbt-permianbasintrust.com
Contact: Ron E. Hooper, Senior Vice President, U.S. Trust, Bank of America
Private Wealth Management, Trustee, 1-877-228-5085
 
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