Sabine Royalty Trust is an express trust, which engages in the provision of Sabine Corporation's royalty and mineral interests. The company is headquartered in Dallas, Texas. The Trust receives a distribution from Sabine Corporation (Sabine) of royalty and mineral interests, including landowner's royalties, overriding royalty interests, minerals (other than executive rights, bonuses and delay rentals), production payments and any other similar, non-participatory interests, in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma and Texas (the Royalty Properties). The Royalty Properties are the only assets of the Trust, other than cash being held for the payment of expenses and liabilities and for distribution to the unit holders. The Royalty Properties consist of royalty and mineral interests, including landowner’s royalties, overriding royalty interests, minerals, production payments, and any other similar, non-participatory interests. The trustee of the Trust is Argent Trust Company, a Tennessee chartered trust company.
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