Permian Basin Royalty Trust Announces May Cash Distribution

         Permian Basin Royalty Trust Announces May Cash Distribution

PR Newswire

DALLAS, May 20, 2013

DALLAS, May 20, 2013 /PRNewswire/ -- Permian Basin Royalty Trust (NYSE: PBT)
("Permian") today declared a cash distribution to the holders of its units of
beneficial interest of $0.088488 per unit, payable on June 14, 2013, to unit
holders of record on May 31, 2013.

This month's distribution increased from the previous month due to increased
oil production and higher oil prices offset by lower gas prices. Gas
production to the trust continues to be affected by prior period adjustments
being processed, however the production of the underlying properties is
relatively flat month to month. Production for the Trust's allocated portion
of the Waddell Ranch and the Texas Royalty Properties combined for oil and gas
respectively was 39,877 bbls and 100,015 Mcf. The average price for oil was
$85.44 per bbl and for gas was $2.95 per Mcf. This would primarily reflect
production for the month of March for oil and the month of February 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 93,451     259,426    39,877*   100,015*  $85.44    $2.95**
Prior Month   82,774     260,266    27,080*   46,145*   $78.60    $3.28**

*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 2013 workover wells were completed in the month of March.
The remaining two horizontal wells were completed in April 2013. The 2012
waterflood project was also completed in April 2013. Capital expenditures
were approximately $2,020,033. 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 2012 capital expenditure program on the Waddell Ranch
Properties, along with the proposed 2013 budget, is discussed more thoroughly
in the Trust's 10-K filing, filed on March 1, and in the Annual Report that is
now available on the trust 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 accounting
adjustments and subsequent reimbursements of this claim are currently being
processed through the monthly distribution. As of March 2013, there has been
minimal effect on the distributions.

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

SOURCE Permian Basin Royalty Trust

Contact: Ron E. Hooper, Senior Vice President, U.S. Trust, Bank of America
Private Wealth Management, Trustee, Toll Free - 1.877.228.5085
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