Exhibit 99.1




---



##### 



SABINE ROYALTY TRUST
 February 17, 2009
 To Unit Holders:
    For your convenience, a simple cost depletion calculator is now available on the Sabine
Royalty Trust website at: www.sbr-sabineroyaltytrust.com, under the
tab Tax Information.




---



##### 



SABINE ROYALTY TRUST
 TABLE OF CONTENTS
 Page2008 TAX INFORMATION Reading the Income and Expense Schedules
    
    
    1 Identifying Which Income and Expense Schedules to Use
    
    
    1 Applying the Data From the Income and Expense Schedules
    
    
    1 Computing Depletion
    
    
    1 Asset Sales and Dispositions
    
    
    2 Redemptions
    
    
    2 Sale or Exchange of Units
    
    
    3 Classification of Investment
    
    
    3 Nonresident Foreign Unit Holders
    
    
    3 Unrelated Business Taxable Income
    
    
    3 Backup Withholding
    
    
    3 State Income Tax
    
    
    3 Table of 2008 Monthly Record Dates and Cash Distributions Per Unit
    
    
    4 Tax Computation Worksheet
    
    
    5 Supplement to Tax Computation Worksheet
    
    
    6 Tax Information Schedules
    
    
    7  Form 1041, Grantor Trust for Calendar Year 2008
    
    
    7  Form 1041, Grantor Trust for January 2008
    
    
    8  Form 1041, Grantor Trust for February 2008
    
    
    9  Form 1041, Grantor Trust for March 2008
    
    
    10  Form 1041, Grantor Trust for April 2008
    
    
    11  Form 1041, Grantor Trust for May 2008
    
    
    12  Form 1041, Grantor Trust for June 2008
    
    
    13  Form 1041, Grantor Trust for July 2008
    
    
    14  Form 1041, Grantor Trust for August 2008
    
    
    15  Form 1041, Grantor Trust for September 2008
    
    
    16  Form 1041, Grantor Trust for October 2008
    
    
    17  Form 1041, Grantor Trust for November 2008
    
    
    18  Form 1041, Grantor Trust for December 2008
    
    
    19  Supplemental Tax Table IGross Royalty Income
    
    
    20  Supplemental Tax Table IISeverance Tax
    
    
    20  Supplemental Tax Table IIIInterest Income
    
    
    21  Supplemental Tax Table IVTrust Administrative Expense
    
    
    21  Depletion Schedule I
    
    
    22  Depletion Schedule II
    
    
    22  Depletion Schedule III
    
    
    23  Depletion Schedule IV
    
    
    24 Sample Tax Forms for Individual Unit Holders
    
    
    25 Comprehensive Examples
    
    
    29 Sabine Royalty Trust Historical Tax Worksheet
    
    
    32DISCUSSION OF TAX CONSIDERATIONS PERTAINING TO THE OWNERSHIP OF UNITS IN
SABINE ROYALTY TRUST Tax Background and WHFIT Information
    
    
    A-1  Effect of Escrow Arrangement
    
    
    A-1 Depletion
    
    
    A-2  Cost Depletion
    
    
    A-2  Percentage Depletion
    
    
    A-3 Adjustment to Basis
    
    
    A-3 Non-Passive Activity Income, Credits and Loss
    
    
    A-3 Depletion Calculator
    
    
    A-3 Nonresident Foreign Unit Holders
    
    
    A-3 Sale or Exchange of Units
    
    
    A-4 Backup Withholding
    
    
    A-4 Substantial Understatement Penalty
    
    
    A-5 State Income Tax
    
    
    A-5 List of states contact information
    
    
    A-7




---



##### 



SABINE ROYALTY TRUST
 2008 TAX INFORMATION
 Reading the Income and Expense Schedules
  Identifying Which Income and Expense Schedules to Use
   Applying the Data From the Income and Expense Schedules
  Computing Depletion
   1




---



##### 



Asset Sales and Dispositions
  Redemptions
   2




---



##### 



Sale or Exchange of Units
  Classification of Investment
  Nonresident Foreign Unit Holders
  Unrelated Business Taxable Income
  Backup Withholding
  State Income Tax
   3




---



##### 



Table of 2008 Monthly Record Dates and Cash Distributions Per Unit
  DistributionMonthly Record Date
    
    Date Payable
    
    Per UnitJanuary 15, 2008
    
    January 29, 2008
    
    
    0.33110February 15, 2008
    
    February 29, 2008
    
    
    0.48204March 17, 2008
    
    March 31, 2008
    
    
    0.37389April 15, 2008
    
    April 29, 2008
    
    
    0.42094May 15, 2008
    
    May 29, 2008
    
    
    0.49698June 16, 2008
    
    June 30, 2008
    
    
    0.48540July 15, 2008
    
    July 29, 2008
    
    
    0.55702August 15, 2008
    
    August 29, 2008
    
    
    0.68973September 15, 2008
    
    September 29, 2008
    
    
    0.64875October 15, 2008
    
    October 29, 2008
    
    
    0.58396November 17, 2008
    
    November 28, 2008
    
    
    0.65309December 15, 2008
    
    December 29, 2008
    
    
    0.31328
  4




---



##### 



SABINE ROYALTY TRUST
TAX COMPUTATION WORKSHEET
 2008
 (RETAIN THIS WORKPAPER AS PART OF YOUR PERMANENT TAX RECORDS)
 Part I
 INCOME AND EXPENSE
 A
    
    
    
    
    
    
    B
    
    
    
    
    
    
    CIncome/ExpensePer UnitNumber of
    
    
    
    
    
    
    from AppropriateUnits Owned
    
    
    
    
    
    
    Schedule(s)
    
    
    
    
    
    
    
    
    
    
    Where to Reflect onItem
    
    (Note 1)
    
    
    
    
    
    
    (Note 2)
    
    
    
    
    
    
    Totals
    
    
    2008 Form 1040 (Note 3)Gross Royalty Income
    
    
    
    
    
    
    x
    
    
    
    
    
    
    
    =
    
    
    
    
    
    
    Line 4, Part I, Schedule ESeverance Tax
    
    
    
    
    
    
    x
    
    
    
    
    
    
    
    =
    
    
    
    
    
    
  Line 16, Part I, Schedule EInterest Income
    
    
    
    
    
    
    x
    
    
    
    
    
    
    
    =
    
    
    
    
    
    
    Line 1, Part I, Schedule BAdministrative Expense
    
    
    
    
    
    
    x
    
    
    
    
    
    
    
    =
    
    
    
    
    
    
    Line 18, Part I, Schedule E
 Part II
 COST DEPLETION (Note 4)
 Cost DepletionAllowable in Prior
    
    
    
    Adjusted Basis for
    
    
    
    Appropriate 2008Calendar Years
    
    
    
    Cost Depletion
    
    
    
    Cost Depletion FactorOriginal Basis
    
    
    
    (Note 5)
    
    
    
    Purposes
    
    
    
    (Note 4)
    
    
    
    2008 Cost Depletion
    
    
    
    =
    
    
    
    x
    
    
    
    =
 
 *
    
    Reflect cost depletion on 2008 Form 1040, line 20, Part 1, Schedule E (Note 3). Part III
 COMPUTATION OF GAIN OR (LOSS) FOR UNITS SOLD
 Where to Reflect onNet Sales
    
    
    
    Adjusted Basis
    
    
    
    
    
    2008 Form 1040Price
    
    
    
    (Note 6)
    
    
    
    Gain (Loss)
    
    (Note 3)
    
    
    
    =
    
    
    
    Form 4797
Part III, Lines 19-24
and Schedule D
 Notes(1)
    
    In order to correctly calculate total income and expense to be reported on your 2008 Federal and, if applicable, state income tax
returns as different factors apply depending on when Units were acquired, it is recommended that you reproduce and complete
a separate Tax Computation Worksheet for each block of Units acquired at different times. If more than one Tax Computation
Worksheet is required, then the separate amounts from each Tax Computation Worksheet should be added together and those
aggregate numbers reported on your 2008 income tax returns.(2)
    
    If you did not become a Unit holder of record of any Unit(s) or did not cease to be a Unit holder of record of any Unit(s) during the
period from January 15, 2008 through December 15, 2008, then the amounts reflected on the cumulative schedule for 2008
(located on page 7) should be used to complete Part I. If any Units were held of record for only part of the period defined above,
the Supplement to Tax Computation Worksheet on page 6 should be used to derive the income and expense factors to be
inserted in column B.(3)
    
    The Trustee believes that individual Unit holders owning the Units as an investment should report the amounts determined in this
manner. See Sample Tax Forms on pages 25-28. The U.S. Corporation Income Tax Return (Form 1120) does not require that
royalty income and related expenses be separately identified on any
specific schedules. See Sale or Exchange of Units on
page A-4 for a discussion of the tax consequences resulting from the sale of a Unit.(4)
    
    The appropriate depletion schedule(s) to be utilized depends
on when the Units were acquired. See Computing Depletion on
pages 1 and 2 to determine the proper schedule(s) to be used. This worksheet assumes a Unit holder will take the cost depletion
deduction. Some Unit holders may be entitled to a percentage depletion deduction in lieu of a cost depletion deduction, in
which case Depletion Schedule IV (on page 24) should be used to compute such Unit holders depletion deduction for purposes
of Part II of this worksheet. See pages 1  2 and A-2  A-3 of this booklet for additional information regarding depletion
deductions.(5)
    
    Cost depletion allowable in prior calendar years cannot be computed from the schedules contained in this booklet. Depletion
schedules contained in Sabine Royalty Trust Tax Information Booklet(s) from prior years should be used to determine the
appropriate cost depletion amount(s) allowable in prior calendar years.(6)
    
    The adjusted basis is equal to the cost or other basis of the Unit(s) less the cost depletion allowable from the date of acquisition
through the date of sale (whether or not deducted).  5




---



##### 



SABINE ROYALTY TRUST
 SUPPLEMENT TO TAX COMPUTATION WORKSHEET
 2008
 FOR UNITS HELD FOR ONLY PART OF THE YEAR
 only
 CalculatedMONTH(S) DURING WHICH UNITS WERE OWNED ON A MONTHLY RECORD DATE
    
    
    FactorJanuary
    
    
    February
    
    
    March
    
    
    April
    
    
    May
    
    
    June
    
    
    July
    
    
    August
    
    
    September
    
    
    October
    
    
    November
    
    
    December
    
    
    Per Unit*Gross Royalty
IncomeSeverance TaxInterest IncomeAdministrative
Expense
 
 *
    
    This column of calculated factors per Unit should be inserted in column B of the Income and
Expense section (Part I) of the Tax Computation Worksheet on page 5.  6




---



##### 



Cumulative 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information 
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .006934
    
    
    $
    .000031
    
    
    $
    .006965
    
    
    $
    *
    
    
    $
    .000162Louisiana
    
    
    .115759
    
    
    
    .008404
    
    
    
    .107355
    
    
    
    *
    
    
    
    .002556Mississippi
    
    
    .324420
    
    
    
    .023418
    
    
    
    .301002
    
    
    
    *
    
    
    
    .006781New Mexico
    
    
    .469520
    
    
    
    .046673
    
    
    
    .422847
    
    
    
    *
    
    
    
    .011057Oklahoma
    
    
    .993040
    
    
    
    .122662
    
    
    
    .870378
    
    
    
    *
    
    
    
    .022865Texas
    
    
    4.677375
    
    
    
    .220324
    
    
    
    4.457051
    
    
    
    .020735
    
    
    
    .106725TOTAL
    
    $
    6.587048
    
    
    $
    .421450
    
    
    $
    6.165598
    
    
    $
    .020735
    
    
    $
    .150146
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    6.1655982. Interest Income
    
    
    .0207353. Administrative Expense
    
    
    (.150146
    )4. Cash Distribution Per Unit**
    
    $
    6.036187
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  7




---



##### 



For January 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000363
    
    
    $
    .000499
    
    
    $
    .000862
    
    
    $
    *
    
    
    $
    .000012Louisiana
    
    
    .008179
    
    
    
    .000654
    
    
    
    .007525
    
    
    
    *
    
    
    
    .000280Mississippi
    
    
    .010633
    
    
    
    .000818
    
    
    
    .009815
    
    
    
    *
    
    
    
    .000364New Mexico
    
    
    .047425
    
    
    
    .000036
    
    
    
    .047461
    
    
    
    *
    
    
    
    .001626Oklahoma
    
    
    .069608
    
    
    
    .008991
    
    
    
    .060617
    
    
    
    *
    
    
    
    .002386Texas
    
    
    .231775
    
    
    
    .016124
    
    
    
    .215651
    
    
    
    .001782
    
    
    
    .007944TOTAL
    
    $
    .367983
    
    
    $
    .026052
    
    
    $
    .341931
    
    
    $
    .001782
    
    
    $
    .012612
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .3419312. Interest Income*
    
    
    .0017823. Administrative Expense
    
    
    (.012612
    )4. Cash Distribution Per Unit**
    
    $
    .331101
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  8




---



##### 



For February 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000717
    
    
    $
    .000054
    
    
    $
    .000663
    
    
    $
    *
    
    
    $
    .000016Louisiana
    
    
    .009726
    
    
    
    .000692
    
    
    
    .009034
    
    
    
    *
    
    
    
    .000216Mississippi
    
    
    .023566
    
    
    
    .001364
    
    
    
    .022202
    
    
    
    *
    
    
    
    .000523New Mexico
    
    
    .035015
    
    
    
    .004734
    
    
    
    .030281
    
    
    
    *
    
    
    
    .000777Oklahoma
    
    
    .063127
    
    
    
    .008272
    
    
    
    .054855
    
    
    
    *
    
    
    
    .001400Texas
    
    
    .396275
    
    
    
    .021662
    
    
    
    .374613
    
    
    
    .002114
    
    
    
    .008791TOTAL
    
    $
    .528426
    
    
    $
    .036778
    
    
    $
    .491648
    
    
    $
    .002114
    
    
    $
    .011723
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .4916482. Interest Income*
    
    
    .0021143. Administrative Expense
    
    
    (.011723
    )4. Cash Distribution Per Unit**
    
    $
    .482039
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  9




---



##### 



For March 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000433
    
    
    $
    .000034
    
    
    $
    .000399
    
    
    $
    *
    
    
    $
    .000015Louisiana
    
    
    .002629
    
    
    
    .000429
    
    
    
    .002200
    
    
    
    *
    
    
    
    .000091Mississippi
    
    
    .016416
    
    
    
    .001265
    
    
    
    .015151
    
    
    
    *
    
    
    
    .000566New Mexico
    
    
    .034429
    
    
    
    .005161
    
    
    
    .029268
    
    
    
    *
    
    
    
    .001188Oklahoma
    
    
    .069379
    
    
    
    .007515
    
    
    
    .061864
    
    
    
    *
    
    
    
    .002394Texas
    
    
    .292745
    
    
    
    .015204
    
    
    
    .277541
    
    
    
    .001824
    
    
    
    .010100TOTAL
    
    $
    .416031
    
    
    $
    .029608
    
    
    $
    .386423
    
    
    $
    .001824
    
    
    $
    .014354
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .3864232. Interest Income*
    
    
    .0018243. Administrative Expense
    
    
    (.014354
    )4. Cash Distribution Per Unit**
    
    $
    .373893
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  10




---



##### 



For April 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000710
    
    
    $
    .000051
    
    
    $
    .000659
    
    
    $
    *
    
    
    $
    .000018Louisiana
    
    
    .013219
    
    
    
    .000825
    
    
    
    .012394
    
    
    
    *
    
    
    
    .000341Mississippi
    
    
    .016216
    
    
    
    .001046
    
    
    
    .015170
    
    
    
    *
    
    
    
    .000418New Mexico
    
    
    .031164
    
    
    
    .004369
    
    
    
    .026795
    
    
    
    *
    
    
    
    .000803Oklahoma
    
    
    .065853
    
    
    
    .008594
    
    
    
    .057259
    
    
    
    *
    
    
    
    .001697Texas
    
    
    .340026
    
    
    
    .020975
    
    
    
    .319051
    
    
    
    .001651
    
    
    
    .008762TOTAL
    
    $
    .467188
    
    
    $
    .035860
    
    
    $
    .431328
    
    
    $
    .001651
    
    
    $
    .012039
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    
    .4313282. Interest Income
    
    
    .0016515. Administrative Expense
    
    
    (.012039
    )6. Cash Distribution Per Unit**
    
    
    .420940
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  11




---



##### 



For May 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000339
    
    
    $
    .000027
    
    
    $
    .000312
    
    
    $
    *
    
    
    $
    .000011Louisiana
    
    
    .003727
    
    
    
    .000769
    
    
    
    .002958
    
    
    
    *
    
    
    
    .000119Mississippi
    
    
    .015008
    
    
    
    .001222
    
    
    
    .013786
    
    
    
    *
    
    
    
    .000481New Mexico
    
    
    .038318
    
    
    
    .005315
    
    
    
    .033003
    
    
    
    *
    
    
    
    .001228Oklahoma
    
    
    .071235
    
    
    
    .008656
    
    
    
    .062579
    
    
    
    *
    
    
    
    .002283Texas
    
    
    .417848
    
    
    
    .017470
    
    
    
    .400378
    
    
    
    .001478
    
    
    
    .013391TOTAL
    
    $
    .546475
    
    
    $
    .033459
    
    
    $
    .513016
    
    
    $
    .001478
    
    
    $
    .017513
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .5130162. Interest Income
    
    
    .0014783. Administrative Expense
    
    
    (.017513
    )4. Cash Distribution Per Unit**
    
    $
    .496981
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  12




---



##### 



For June 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000757
    
    
    $
    .000055
    
    
    $
    .000702
    
    
    $
    *
    
    
    $
    .000024Louisiana
    
    
    .012616
    
    
    
    .000853
    
    
    
    .011763
    
    
    
    *
    
    
    
    .000408Mississippi
    
    
    .021127
    
    
    
    .001441
    
    
    
    .019686
    
    
    
    *
    
    
    
    .000683New Mexico
    
    
    .033323
    
    
    
    .004264
    
    
    
    .029059
    
    
    
    *
    
    
    
    .001077Oklahoma
    
    
    .064736
    
    
    
    .007597
    
    
    
    .057139
    
    
    
    *
    
    
    
    .002093Texas
    
    
    .406020
    
    
    
    .023030
    
    
    
    .382990
    
    
    
    .001473
    
    
    
    .013126TOTAL
    
    $
    .538579
    
    
    $
    .037240
    
    
    $
    .501339
    
    
    $
    .001473
    
    
    $
    .017411
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .5013392. Interest Income
    
    
    .0014733. Administrative Expense
    
    
    (.017411
    )4. Cash Distribution Per Unit**
    
    $
    .485401
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  13




---



##### 



For July 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000425
    
    
    $
    .000034
    
    
    $
    .000391
    
    
    $
    *
    
    
    $
    .000008Louisiana
    
    
    .009828
    
    
    
    .000701
    
    
    
    .009127
    
    
    
    *
    
    
    
    .000185Mississippi
    
    
    .031467
    
    
    
    .002791
    
    
    
    .028676
    
    
    
    *
    
    
    
    .000593New Mexico
    
    
    .041213
    
    
    
    .005784
    
    
    
    .035429
    
    
    
    *
    
    
    
    .000777Oklahoma
    
    
    .100237
    
    
    
    .013219
    
    
    
    .087018
    
    
    
    *
    
    
    
    .001890Texas
    
    
    .431875
    
    
    
    .025502
    
    
    
    .406373
    
    
    
    .001605
    
    
    
    .008145TOTAL
    
    $
    .615045
    
    
    $
    .048031
    
    
    $
    .567014
    
    
    $
    .001605
    
    
    $
    .011598
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item1. Total Net Royalty Payments
    
    $
    .5670142. Interest Income
    
    
    .0016053. Administrative Expense
    
    
    (.011598
    )4. Cash Distribution Per Unit**
    
    $
    0.557021
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  14




---



##### 



For August 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
 INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000319
    
    
    $
    .000023
    
    
    $
    .000296
    
    
    $
    *
    
    
    $
    .000005Louisiana
    
    
    .010949
    
    
    
    .000719
    
    
    
    .010230
    
    
    
    *
    
    
    
    .000156Mississippi
    
    
    .030881
    
    
    
    .002135
    
    
    
    .028746
    
    
    
    *
    
    
    
    .000441New Mexico
    
    
    045454
    
    
    
    .006397
    
    
    
    .039057
    
    
    
    *
    
    
    
    .000649Oklahoma
    
    
    .113278
    
    
    
    .013694
    
    
    
    .099584
    
    
    
    *
    
    
    
    .001618Texas
    
    
    .533877
    
    
    
    .013253
    
    
    
    .520624
    
    
    
    .001685
    
    
    
    .007623TOTAL
    
    $
    .734758
    
    
    $
    .036221
    
    
    $
    .698537
    
    
    $
    .001685
    
    
    $
    .010492
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item1. Total Net Royalty Payments
    
    $
    .6985372. Interest Income
    
    
    .0016853. Administrative Expense
    
    
    (.010492
    )4. Cash Distribution Per Unit**
    
    $
    0.689730
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  15




---



##### 



For September 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000927
    
    
    $
    .000065
    
    
    $
    .000862
    
    
    $
    *
    
    
    $
    .000017Louisiana
    
    
    .010954
    
    
    
    .000687
    
    
    
    .010267
    
    
    
    *
    
    
    
    .000199Mississippi
    
    
    .030668
    
    
    
    .002478
    
    
    
    .028190
    
    
    
    *
    
    
    
    .000558New Mexico
    
    
    .042559
    
    
    
    .005277
    
    
    
    .047836
    
    
    
    *
    
    
    
    .000774Oklahoma
    
    
    .094482
    
    
    
    .011892
    
    
    
    .082590
    
    
    
    *
    
    
    
    .001719Texas
    
    
    .519129
    
    
    
    .029333
    
    
    
    .489796
    
    
    
    .001918
    
    
    
    .009442TOTAL
    
    $
    .698719
    
    
    $
    .039178
    
    
    $
    .659541
    
    
    $
    .001918
    
    
    $
    .012709
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .6595412. Interest Income
    
    
    .0019183. Administrative Expense
    
    
    (.012709
    )4. Cash Distribution Per Unit**
    
    $
    0.64875
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  16




---



##### 



For October 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000645
    
    
    $
    .000042
    
    
    $
    .000603
    
    
    $
    *
    
    
    $
    .000009Louisiana
    
    
    .016198
    
    
    
    .000890
    
    
    
    .015308
    
    
    
    *
    
    
    
    .000238Mississippi
    
    
    .033862
    
    
    
    .002364
    
    
    
    .031498
    
    
    
    *
    
    
    
    .000497New Mexico
    
    
    .039209
    
    
    
    .005738
    
    
    
    .033471
    
    
    
    *
    
    
    
    .000576Oklahoma
    
    
    .109519
    
    
    
    .013191
    
    
    
    .096328
    
    
    
    *
    
    
    
    .001609Texas
    
    
    .425190
    
    
    
    .011090
    
    
    
    .414100
    
    
    
    .001825
    
    
    
    .006244TOTAL
    
    $
    .624623
    
    
    $
    .033315
    
    
    $
    .591308
    
    
    $
    .001825
    
    
    $
    .009173
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .5913082. Interest Income
    
    
    .0018253. Administrative Expense
    
    
    (.009173
    )4. Cash Distribution Per Unit**
    
    $
    .583960
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  17




---



##### 



For November 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000776
    
    
    $
    .000044
    
    
    $
    .000732
    
    
    $
    *
    
    
    $
    .000012Louisiana
    
    
    .013495
    
    
    
    .000937
    
    
    
    .012558
    
    
    
    *
    
    
    
    .000202Mississippi
    
    
    .076742
    
    
    
    .005065
    
    
    
    .071677
    
    
    
    *
    
    
    
    .001149New Mexico
    
    
    .054526
    
    
    
    .007650
    
    
    
    .046876
    
    
    
    *
    
    
    
    .000816Oklahoma
    
    
    .082260
    
    
    
    .009621
    
    
    
    .072639
    
    
    
    *
    
    
    
    .001231Texas
    
    
    .465217
    
    
    
    .008123
    
    
    
    .457094
    
    
    
    .001886
    
    
    
    .006962TOTAL
    
    $
    .693016
    
    
    $
    .031440
    
    
    $
    .661576
    
    
    $
    .001886
    
    
    $
    .010372
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .6615762. Interest Income
    
    
    .0018863. Administrative Expense
    
    
    (.010372
    )4. Cash Distribution Per Unit**
    
    
    .653090
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  18




---



##### 



For December 2008
 SABINE ROYALTY TRUST
 EIN 75-6297143
 FORM 1041, GRANTOR TRUST
 Federal and State Income Tax Information
See Instructions for Use
 SECTION I
INCOME AND EXPENSE PER UNIT
 OTHER INCOMEROYALTY INCOME AND EXPENSE
    
    
    AND EXPENSENetGross
    
    
    Severance
    
    
    Royalty
    
    
    Interest
    
    
    AdministrativeSource
    
    Income
    
    
    Tax
    
    
    Payments
    
    
    Income
    
    
    ExpenseFlorida
    
    $
    .000523
    
    
    $
    .000039
    
    
    $
    .000484
    
    
    $
    *
    
    
    $
    .000015Louisiana
    
    
    .004239
    
    
    
    .000248
    
    
    
    .003991
    
    
    
    *
    
    
    
    .000121Mississippi
    
    
    .017834
    
    
    
    .001429
    
    
    
    .016405
    
    
    
    *
    
    
    
    .000508New Mexico
    
    
    .026885
    
    
    
    .002574
    
    
    
    .024311
    
    
    
    *
    
    
    
    .000766Oklahoma
    
    
    .089326
    
    
    
    .011420
    
    
    
    .077906
    
    
    
    *
    
    
    
    .002545Texas
    
    
    .217398
    
    
    
    .018558
    
    
    
    .198840
    
    
    
    .001494
    
    
    
    .006195TOTAL
    
    $
    .356205
    
    
    $
    .034268
    
    
    $
    .321937
    
    
    $
    .001494
    
    
    $
    .010150
 SECTION II
RECONCILIATION OF CASH DISTRIBUTIONS PER UNIT
 Item
    
    AMOUNT1. Total Net Royalty Payments
    
    $
    .3219372. Interest Income
    
    
    .0014943. Administrative Expense
    
    
    (.010150
    )4. Cash Distribution Per Unit**
    
    $
    .313281
 
 *
    
    Revenue attributable to these states was invested and earned interest income. Since the
investments were made in Dallas, Texas, and the interest was paid there, such interest is
included in the Texas interest income.**
    
    Includes amounts withheld by the Trust from distributions to nonresident alien individuals
and foreign corporations and remitted directly to the United States Treasury. This also
includes amounts withheld pursuant to the backup withholding provisions.  19




---



##### 



SABINE ROYALTY TRUST FEDERAL
 Table
I: 2008 Gross Royalty Income (Cumulative $ per Unit)
 ACQUISITION
    
    AND THE LAST CASH DISTRIBUTION ON SUCH UNIT WAS ATTRIBUTABLE TO THE MONTHLY RECORD DATEMONTH:
    
    FOR THE MONTH OF:2008January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberJanuary
    
    
    0.367983
    
    
    
    0.896409
    
    
    
    1.312440
    
    
    
    1.779628
    
    
    
    2.326103
    
    
    
    2.864682
    
    
    
    3.479727
    
    
    
    4.214485
    
    
    
    4.913204
    
    
    
    5.537827
    
    
    
    6.230843
    
    
    
    6.587048February
    
    
    
    
    
    
    0.528426
    
    
    
    0.944457
    
    
    
    1.411645
    
    
    
    1.958120
    
    
    
    2.496699
    
    
    
    3.111744
    
    
    
    3.846502
    
    
    
    4.545221
    
    
    
    5.169844
    
    
    
    5.862860
    
    
    
    6.219065March
    
    
    
    
    
    
    
    
    
    
    0.416031
    
    
    
    0.883219
    
    
    
    1.429694
    
    
    
    1.968273
    
    
    
    2.583318
    
    
    
    3.318076
    
    
    
    4.016795
    
    
    
    4.641418
    
    
    
    5.334434
    
    
    
    5.690639April
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.467188
    
    
    
    1.013663
    
    
    
    1.552242
    
    
    
    2.167287
    
    
    
    2.902045
    
    
    
    3.600764
    
    
    
    4.225387
    
    
    
    4.918403
    
    
    
    5.274608May
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.546475
    
    
    
    1.085054
    
    
    
    1.700099
    
    
    
    2.434857
    
    
    
    3.133576
    
    
    
    3.758199
    
    
    
    4.451215
    
    
    
    4.807420June
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.538579
    
    
    
    1.153624
    
    
    
    1.888382
    
    
    
    2.587101
    
    
    
    3.211724
    
    
    
    3.904740
    
    
    
    4.260945July
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.615045
    
    
    
    1.349803
    
    
    
    2.048522
    
    
    
    2.673145
    
    
    
    3.366161
    
    
    
    3.722366August
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.734758
    
    
    
    1.433477
    
    
    
    2.058100
    
    
    
    2.751116
    
    
    
    3.107321September
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.698719
    
    
    
    1.323342
    
    
    
    2.016358
    
    
    
    2.372563October
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.624623
    
    
    
    1.317639
    
    
    
    1.673844November
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.693016
    
    
    
    1.049221December
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.356205Table
II: 2008 Severance Tax (Cumulative $ per Unit)ACQUISITION
    
    AND THE LAST CASH DISTRIBUTION ON SUCH UNIT WAS ATTRIBUTABLE TO THE MONTHLY RECORD DATEMONTH:
    
    FOR THE MONTH OF:2008January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberJanuary
    
    
    0.026052
    
    
    
    0.062830
    
    
    
    0.092438
    
    
    
    0.128298
    
    
    
    0.161757
    
    
    
    0.198997
    
    
    
    0.247028
    
    
    
    0.283249
    
    
    
    0.322427
    
    
    
    0.355742
    
    
    
    0.387182
    
    
    
    0.421450February
    
    
    
    
    
    
    0.036778
    
    
    
    0.066386
    
    
    
    0.102246
    
    
    
    0.135705
    
    
    
    0.172945
    
    
    
    0.220976
    
    
    
    0.257197
    
    
    
    0.296375
    
    
    
    0.329690
    
    
    
    0.361130
    
    
    
    0.395398March
    
    
    
    
    
    
    
    
    
    
    0.029608
    
    
    
    0.065468
    
    
    
    0.098927
    
    
    
    0.136167
    
    
    
    0.184198
    
    
    
    0.220419
    
    
    
    0.259597
    
    
    
    0.292912
    
    
    
    0.324352
    
    
    
    0.358620April
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.035860
    
    
    
    0.069319
    
    
    
    0.106559
    
    
    
    0.154590
    
    
    
    0.190811
    
    
    
    0.229989
    
    
    
    0.263304
    
    
    
    0.294744
    
    
    
    0.329012May
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.033459
    
    
    
    0.070699
    
    
    
    0.118730
    
    
    
    0.154951
    
    
    
    0.194129
    
    
    
    0.227444
    
    
    
    0.258884
    
    
    
    0.293152June
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.037240
    
    
    
    0.085271
    
    
    
    0.121492
    
    
    
    0.160670
    
    
    
    0.193985
    
    
    
    0.225425
    
    
    
    0.259693July
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.048031
    
    
    
    0.084252
    
    
    
    0.123430
    
    
    
    0.156745
    
    
    
    0.188185
    
    
    
    0.222453August
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.036221
    
    
    
    0.075399
    
    
    
    0.108714
    
    
    
    0.140154
    
    
    
    0.174422September
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.039178
    
    
    
    0.072493
    
    
    
    0.103933
    
    
    
    0.138201October
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.033315
    
    
    
    0.064755
    
    
    
    0.099023November
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.031440
    
    
    
    0.065708December
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.034268
  20




---



##### 



SABINE ROYALTY TRUST FEDERAL
 Table
III: 2008 Interest Income (Cumulative $ per Unit)
 ACQUISITION
    
    AND THE LAST CASH DISTRIBUTION ON SUCH UNIT WAS ATTRIBUTABLE TO THE MONTHLY RECORD DATEMONTH:
    
    FOR THE MONTH OF:2008January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberJanuary
    
    
    0.001782
    
    
    
    0.003896
    
    
    
    0.005720
    
    
    
    0.007371
    
    
    
    0.008849
    
    
    
    0.010322
    
    
    
    0.011927
    
    
    
    0.013612
    
    
    
    0.015530
    
    
    
    0.017355
    
    
    
    0.019241
    
    
    
    0.020735February
    
    
    
    
    
    
    0.002114
    
    
    
    0.003938
    
    
    
    0.005589
    
    
    
    0.007067
    
    
    
    0.008540
    
    
    
    0.010145
    
    
    
    0.011830
    
    
    
    0.013748
    
    
    
    0.015573
    
    
    
    0.017459
    
    
    
    0.018953March
    
    
    
    
    
    
    
    
    
    
    0.001824
    
    
    
    0.003475
    
    
    
    0.004953
    
    
    
    0.006426
    
    
    
    0.008031
    
    
    
    0.009716
    
    
    
    0.011634
    
    
    
    0.013459
    
    
    
    0.015345
    
    
    
    0.016839April
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001651
    
    
    
    0.003129
    
    
    
    0.004602
    
    
    
    0.006207
    
    
    
    0.007892
    
    
    
    0.009810
    
    
    
    0.011635
    
    
    
    0.013521
    
    
    
    0.015015May
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001478
    
    
    
    0.002951
    
    
    
    0.004556
    
    
    
    0.006241
    
    
    
    0.008159
    
    
    
    0.009984
    
    
    
    0.011870
    
    
    
    0.013364June
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001473
    
    
    
    0.003078
    
    
    
    0.004763
    
    
    
    0.006681
    
    
    
    0.008506
    
    
    
    0.010392
    
    
    
    0.011886July
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001605
    
    
    
    0.003290
    
    
    
    0.005208
    
    
    
    0.007033
    
    
    
    0.008919
    
    
    
    0.010413August
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001685
    
    
    
    0.003603
    
    
    
    0.005428
    
    
    
    0.007314
    
    
    
    0.008808September
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001918
    
    
    
    0.003743
    
    
    
    0.005629
    
    
    
    0.007123October
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001825
    
    
    
    0.003711
    
    
    
    0.005205November
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001886
    
    
    
    0.003380December
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.001494
 Table
IV: 2008 Trust Administrative Expense (Cumulative $ per Unit)
 ACQUISITION
    
    AND THE LAST CASH DISTRIBUTION ON SUCH UNIT WAS ATTRIBUTABLE TO THE MONTHLY RECORD DATEMONTH:
    
    FOR THE MONTH OF:2008January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberJanuary
    
    
    0.012612
    
    
    
    0.024335
    
    
    
    0.038689
    
    
    
    0.050728
    
    
    
    0.068241
    
    
    
    0.085652
    
    
    
    0.097250
    
    
    
    0.107742
    
    
    
    0.120451
    
    
    
    0.129624
    
    
    
    0.139996
    
    
    
    0.150146February
    
    
    
    
    
    
    0.011723
    
    
    
    0.026077
    
    
    
    0.038116
    
    
    
    0.055629
    
    
    
    0.073040
    
    
    
    0.084638
    
    
    
    0.095130
    
    
    
    0.107839
    
    
    
    0.117012
    
    
    
    0.127384
    
    
    
    0.137534March
    
    
    
    
    
    
    
    
    
    
    0.014354
    
    
    
    0.026393
    
    
    
    0.043906
    
    
    
    0.061317
    
    
    
    0.072915
    
    
    
    0.083407
    
    
    
    0.096116
    
    
    
    0.105289
    
    
    
    0.115661
    
    
    
    0.125811April
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.012039
    
    
    
    0.029552
    
    
    
    0.046963
    
    
    
    0.058561
    
    
    
    0.069053
    
    
    
    0.081762
    
    
    
    0.090935
    
    
    
    0.101307
    
    
    
    0.111457May
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.017513
    
    
    
    0.034924
    
    
    
    0.046522
    
    
    
    0.057014
    
    
    
    0.069723
    
    
    
    0.078896
    
    
    
    0.089268
    
    
    
    0.099418June
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.017411
    
    
    
    0.029009
    
    
    
    0.039501
    
    
    
    0.052210
    
    
    
    0.061383
    
    
    
    0.071755
    
    
    
    0.081905July
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.011598
    
    
    
    0.022090
    
    
    
    0.034799
    
    
    
    0.043972
    
    
    
    0.054344
    
    
    
    0.064494August
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.010492
    
    
    
    0.023201
    
    
    
    0.032374
    
    
    
    0.042746
    
    
    
    0.052896September
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.012709
    
    
    
    0.021882
    
    
    
    0.032254
    
    
    
    0.042404October
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.009173
    
    
    
    0.019545
    
    
    
    0.029695November
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.010372
    
    
    
    0.020522December
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.010150
  21




---



##### 



SABINE ROYALTY TRUST
 Depletion Schedule I
  FIRST MONTH IN WHICHUNITS WERE OWNEDON THE MONTHLYRECORD DATE IN 2008
    
    January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberJanuary
    
    
    .009374
    
    
    
    .021071
    
    
    
    .030930
    
    
    
    .041048
    
    
    
    .051949
    
    
    
    .062039
    
    
    
    .072971
    
    
    
    .084787
    
    
    
    .095269
    
    
    
    .105112
    
    
    
    .117571
    
    
    
    .126324February
    
    
    
    
    
    
    .011697
    
    
    
    .021556
    
    
    
    .031674
    
    
    
    .042575
    
    
    
    .052665
    
    
    
    .063597
    
    
    
    .075413
    
    
    
    .085895
    
    
    
    .095738
    
    
    
    .108197
    
    
    
    .116950March
    
    
    
    
    
    
    
    
    
    
    .009859
    
    
    
    .019977
    
    
    
    .030878
    
    
    
    .040968
    
    
    
    .051900
    
    
    
    .063716
    
    
    
    .074198
    
    
    
    .084041
    
    
    
    .096500
    
    
    
    .105253April
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .010118
    
    
    
    .021019
    
    
    
    .031109
    
    
    
    .042041
    
    
    
    .053857
    
    
    
    .064339
    
    
    
    .074182
    
    
    
    .086641
    
    
    
    .095394May
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .010901
    
    
    
    .020991
    
    
    
    .031923
    
    
    
    .043739
    
    
    
    .054221
    
    
    
    .064064
    
    
    
    .076523
    
    
    
    .085276June
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .010090
    
    
    
    .021022
    
    
    
    .032838
    
    
    
    .043320
    
    
    
    .053163
    
    
    
    .065622
    
    
    
    .074375July
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .010932
    
    
    
    .022748
    
    
    
    .033230
    
    
    
    .043073
    
    
    
    .055532
    
    
    
    .064285August
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .011816
    
    
    
    .022298
    
    
    
    .032141
    
    
    
    .044600
    
    
    
    .053353September
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .010482
    
    
    
    .020325
    
    
    
    .032784
    
    
    
    .041537October
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .009843
    
    
    
    .022302
    
    
    
    .031055November
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .012459
    
    
    
    .021212December
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .008753
 Depletion Schedule II
  STATE DEPLETIONFACTORS
    
    January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberFlorida
    
    
    .000008
    
    
    
    .000015
    
    
    
    .000009
    
    
    
    .000014
    
    
    
    .000007
    
    
    
    .000014
    
    
    
    .000008
    
    
    
    .000005
    
    
    
    .000015
    
    
    
    .000010
    
    
    
    .000012
    
    
    
    .000011Louisiana
    
    
    .000231
    
    
    
    .000263
    
    
    
    .000057
    
    
    
    .000356
    
    
    
    .000062
    
    
    
    .000341
    
    
    
    .000203
    
    
    
    .000226
    
    
    
    .000188
    
    
    
    .000321
    
    
    
    .000271
    
    
    
    .000109Mississippi
    
    
    .000329
    
    
    
    .000674
    
    
    
    .000389
    
    
    
    .000341
    
    
    
    .000367
    
    
    
    .000405
    
    
    
    .000735
    
    
    
    .000530
    
    
    
    .000530
    
    
    
    .000542
    
    
    
    .001820
    
    
    
    .000406New Mexico
    
    
    .000607
    
    
    
    .000620
    
    
    
    .000698
    
    
    
    .000527
    
    
    
    .000662
    
    
    
    .000489
    
    
    
    .000608
    
    
    
    .000630
    
    
    
    .000550
    
    
    
    .000494
    
    
    
    .000752
    
    
    
    .000428Oklahoma
    
    
    .001696
    
    
    
    .001510
    
    
    
    .001822
    
    
    
    .001402
    
    
    
    .001421
    
    
    
    .001087
    
    
    
    .001736
    
    
    
    .001781
    
    
    
    .001472
    
    
    
    .001554
    
    
    
    .001117
    
    
    
    .001660Texas
    
    
    .006503
    
    
    
    .008615
    
    
    
    .006884
    
    
    
    .007478
    
    
    
    .008382
    
    
    
    .007754
    
    
    
    .007642
    
    
    
    .008644
    
    
    
    .007727
    
    
    
    .006922
    
    
    
    .008487
    
    
    
    .006139TOTAL
    
    
    .009374
    
    
    
    .011697
    
    
    
    .009859
    
    
    
    .010118
    
    
    
    .010901
    
    
    
    .010090
    
    
    
    .010932
    
    
    
    .011816
    
    
    
    .010482
    
    
    
    .009843
    
    
    
    .012459
    
    
    
    .008753
  22




---



##### 



SABINE ROYALTY TRUST
 DEPLETION SCHEDULE III
  FOR A UNITACQUIRED OFRECORD DURINGTHE YEAR OF:
    
    LAST MONTH IN WHICH UNITS WERE OWNED ON THE MONTHLY RECORD DATE IN 20082008January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberORIGINAL DISTRIBUTION
    
    
    .009929
    
    
    
    .022701
    
    
    
    .033272
    
    
    
    .044020
    
    
    
    .055785
    
    
    
    .066618
    
    
    
    .078640
    
    
    
    .091438
    
    
    
    .102853
    
    
    
    .113510
    
    
    
    .128019
    
    
    
    .1375551983
    
    
    .009122
    
    
    
    .020790
    
    
    
    .030470
    
    
    
    .040582
    
    
    
    .051797
    
    
    
    .062060
    
    
    
    .072710
    
    
    
    .084528
    
    
    
    .095033
    
    
    
    .104627
    
    
    
    .116320
    
    
    
    .1249541984
    
    
    .006436
    
    
    
    .014693
    
    
    
    .021513
    
    
    
    .028674
    
    
    
    .036608
    
    
    
    .043887
    
    
    
    .051407
    
    
    
    .059764
    
    
    
    .067195
    
    
    
    .073978
    
    
    
    .082242
    
    
    
    .0883371985
    
    
    .008067
    
    
    
    .018441
    
    
    
    .027003
    
    
    
    .035976
    
    
    
    .045945
    
    
    
    .055076
    
    
    
    .064527
    
    
    
    .075013
    
    
    
    .084345
    
    
    
    .092852
    
    
    
    .103326
    
    
    
    .110964BEFORE MARCH 17, 1986
    
    
    .006734
    
    
    
    .015397
    
    
    
    .022547
    
    
    
    .030048
    
    
    
    .038390
    
    
    
    .046028
    
    
    
    .053907
    
    
    
    .062668
    
    
    
    .070464
    
    
    
    .077560
    
    
    
    .086260
    
    
    
    .092633AFTER MARCH 17, 1986
    
    
    .005453
    
    
    
    .012466
    
    
    
    .018255
    
    
    
    .024323
    
    
    
    .031073
    
    
    
    .037254
    
    
    
    .043634
    
    
    
    .050722
    
    
    
    .057030
    
    
    
    .062774
    
    
    
    .069836
    
    
    
    .0749921987
    
    
    .007043
    
    
    
    .016089
    
    
    
    .023567
    
    
    
    .031404
    
    
    
    .040120
    
    
    
    .048097
    
    
    
    .056326
    
    
    
    .065477
    
    
    
    .073620
    
    
    
    .081034
    
    
    
    .090094
    
    
    
    .0967571988
    
    
    .007509
    
    
    
    .017091
    
    
    
    .025063
    
    
    
    .033378
    
    
    
    .042613
    
    
    
    .051045
    
    
    
    .059790
    
    
    
    .069507
    
    
    
    .078140
    
    
    
    .086020
    
    
    
    .095562
    
    
    
    .1026661989
    
    
    .007320
    
    
    
    .016600
    
    
    
    .024376
    
    
    
    .032421
    
    
    
    .041336
    
    
    
    .049458
    
    
    
    .057983
    
    
    
    .067413
    
    
    
    .075784
    
    
    
    .083453
    
    
    
    .092740
    
    
    
    .0996811990
    
    
    .007014
    
    
    
    .015884
    
    
    
    .023337
    
    
    
    .031037
    
    
    
    .039569
    
    
    
    .047335
    
    
    
    .055480
    
    
    
    .064499
    
    
    
    .072503
    
    
    
    .079837
    
    
    
    .088673
    
    
    
    .0953091991
    
    
    .006678
    
    
    
    .015028
    
    
    
    .022132
    
    
    
    .029390
    
    
    
    .037433
    
    
    
    .044715
    
    
    
    .052422
    
    
    
    .060931
    
    
    
    .068470
    
    
    
    .075396
    
    
    
    .083726
    
    
    
    .0900041992
    
    
    .007668
    
    
    
    .017104
    
    
    
    .025278
    
    
    
    .033497
    
    
    
    .042594
    
    
    
    .050761
    
    
    
    .059553
    
    
    
    .069230
    
    
    
    .077777
    
    
    
    .085669
    
    
    
    .094978
    
    
    
    .1021991993
    
    
    .007766
    
    
    
    .017323
    
    
    
    .025593
    
    
    
    .033918
    
    
    
    .043117
    
    
    
    .051392
    
    
    
    .060291
    
    
    
    .070079
    
    
    
    .078727
    
    
    
    .086720
    
    
    
    .096184
    
    
    
    .1034791994
    
    
    .007032
    
    
    
    .015674
    
    
    
    .023147
    
    
    
    .030684
    
    
    
    .038969
    
    
    
    .046446
    
    
    
    .054512
    
    
    
    .063369
    
    
    
    .071192
    
    
    
    .078446
    
    
    
    .087006
    
    
    
    .0936301995
    
    
    .007394
    
    
    
    .016464
    
    
    
    .024338
    
    
    
    .032226
    
    
    
    .040902
    
    
    
    .048711
    
    
    
    .057210
    
    
    
    .066505
    
    
    
    .074722
    
    
    
    .082349
    
    
    
    .091410
    
    
    
    .0983971996
    
    
    .007295
    
    
    
    .016043
    
    
    
    .023813
    
    
    
    .031463
    
    
    
    .039839
    
    
    
    .047313
    
    
    
    .055602
    
    
    
    .064646
    
    
    
    .072604
    
    
    
    .080048
    
    
    
    .088606
    
    
    
    .0954951997
    
    
    .009218
    
    
    
    .020457
    
    
    
    .030255
    
    
    
    .040061
    
    
    
    .050806
    
    
    
    .060482
    
    
    
    .071033
    
    
    
    .082576
    
    
    
    .092765
    
    
    
    .102251
    
    
    
    .113381
    
    
    
    .1220801998
    
    
    .009740
    
    
    
    .021687
    
    
    
    .032047
    
    
    
    .042400
    
    
    
    .053731
    
    
    
    .063961
    
    
    
    .075216
    
    
    
    .087446
    
    
    
    .098253
    
    
    
    .108341
    
    
    
    .120518
    
    
    
    .1297411999
    
    
    .009942
    
    
    
    .022273
    
    
    
    .032761
    
    
    
    .043422
    
    
    
    .054934
    
    
    
    .065519
    
    
    
    .080344
    
    
    
    .092862
    
    
    
    .103947
    
    
    
    .114365
    
    
    
    .127377
    
    
    
    .1367392000
    
    
    .009847
    
    
    
    .022187
    
    
    
    .032623
    
    
    
    .043139
    
    
    
    .054533
    
    
    
    .065003
    
    
    
    .076673
    
    
    
    .089115
    
    
    
    .100168
    
    
    
    .110569
    
    
    
    .124254
    
    
    
    .1335662001
    
    
    .010079
    
    
    
    .022308
    
    
    
    .032857
    
    
    
    .043366
    
    
    
    .054368
    
    
    
    .064610
    
    
    
    .076419
    
    
    
    .088797
    
    
    
    .099733
    
    
    
    .110320
    
    
    
    .124172
    
    
    
    .1335822002
    
    
    .009875
    
    
    
    .021953
    
    
    
    .032349
    
    
    
    .042784
    
    
    
    .053931
    
    
    
    .064198
    
    
    
    .075672
    
    
    
    .087920
    
    
    
    .098757
    
    
    
    .109054
    
    
    
    .122139
    
    
    
    .1313462003
    
    
    .009899
    
    
    
    .021972
    
    
    
    .032454
    
    
    
    .042887
    
    
    
    .054135
    
    
    
    .064412
    
    
    
    .075987
    
    
    
    .088324
    
    
    
    .099243
    
    
    
    .109579
    
    
    
    .122814
    
    
    
    .1321252004
    
    
    .009763
    
    
    
    .021902
    
    
    
    .032202
    
    
    
    .042638
    
    
    
    .053878
    
    
    
    .064243
    
    
    
    .075690
    
    
    
    .087953
    
    
    
    .098832
    
    
    
    .109088
    
    
    
    .122300
    
    
    
    .1314562005
    
    
    .009845
    
    
    
    .021984
    
    
    
    .032398
    
    
    
    .042832
    
    
    
    .054083
    
    
    
    .064389
    
    
    
    .075905
    
    
    
    .088215
    
    
    
    .099119
    
    
    
    .109419
    
    
    
    .122564
    
    
    
    .1318312006
    
    
    .009801
    
    
    
    .021890
    
    
    
    .032203
    
    
    
    .042651
    
    
    
    .053858
    
    
    
    .064196
    
    
    
    .075607
    
    
    
    .087854
    
    
    
    .098698
    
    
    
    .108950
    
    
    
    .121939
    
    
    
    .1310952007
    
    
    .009533
    
    
    
    .021342
    
    
    
    .031383
    
    
    
    .041638
    
    
    
    .052693
    
    
    
    .062875
    
    
    
    .073928
    
    
    
    .085893
    
    
    
    .096495
    
    
    
    .106445
    
    
    
    .118891
    
    
    
    .127771
  23




---



##### 



SABINE ROYALTY TRUST
 DEPLETION SCHEDULE IV
  FIRST MONTH INWHICH UNITSWERE OWNEDON THEMONTHLYRECORD DATE IN2008
    
    January
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    DecemberJanuary
    
    
    .055197
    
    
    
    .134461
    
    
    
    .196866
    
    
    
    .266944
    
    
    
    .348915
    
    
    
    .429702
    
    
    
    .521959
    
    
    
    .632173
    
    
    
    .736981
    
    
    
    .830674
    
    
    
    .934626
    
    
    
    .988057February
    
    
    
    
    
    
    .079264
    
    
    
    .141669
    
    
    
    .211747
    
    
    
    .293718
    
    
    
    .374505
    
    
    
    .466762
    
    
    
    .576975
    
    
    
    .681783
    
    
    
    .775477
    
    
    
    .879429
    
    
    
    .932860March
    
    
    
    
    
    
    
    
    
    
    .062405
    
    
    
    .132483
    
    
    
    .214454
    
    
    
    .295241
    
    
    
    .387498
    
    
    
    .497711
    
    
    
    .602519
    
    
    
    .696213
    
    
    
    .800165
    
    
    
    .853596April
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .070078
    
    
    
    .152049
    
    
    
    .232836
    
    
    
    .325093
    
    
    
    .435307
    
    
    
    .540115
    
    
    
    .633808
    
    
    
    .737760
    
    
    
    .791191May
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .081971
    
    
    
    .162758
    
    
    
    .255015
    
    
    
    .365229
    
    
    
    .470036
    
    
    
    .563730
    
    
    
    .667682
    
    
    
    .721113June
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .080787
    
    
    
    .173044
    
    
    
    .283257
    
    
    
    .388065
    
    
    
    .481759
    
    
    
    .585711
    
    
    
    .639142July
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .092257
    
    
    
    .202470
    
    
    
    .307278
    
    
    
    .400972
    
    
    
    .504924
    
    
    
    .558355August
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .110214
    
    
    
    .215022
    
    
    
    .308715
    
    
    
    .412667
    
    
    
    .466098September
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .104808
    
    
    
    .198501
    
    
    
    .302454
    
    
    
    .355884October
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .093693
    
    
    
    .197646
    
    
    
    .251077November
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .103952
    
    
    
    .157383December
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .053431
  24




---



##### 



25




---



##### 



26




---



##### 



27




---



##### 



28




---



##### 



COMPREHENSIVE EXAMPLE 1
  COMPUTATION OF INCOME AND EXPENSE FOR UNITS OWNED ON ALL MONTHLY RECORD
DATES IN 2008
 SABINE ROYALTY TRUST
TAX COMPUTATION WORKSHEET
 2008
 (RETAIN THIS WORKPAPER AS PART OF YOUR PERMANENT TAX RECORDS)
 Part I
 INCOME AND EXPENSE
 A
    
    
    
    
    
    
    B
    
    
    
    
    
    
    CIncome/ExpensePer UnitNumber of
    
    
    
    
    
    
    from AppropriateUnits Owned
    
    
    
    
    
    
    Schedule(s)
    
    
    
    
    
    
    
    
    
    
    Where to Reflect onItem
    
    (Note 1)
    
    
    
    
    
    
    (Note 2)
    
    
    
    
    
    
    Totals
    
    
    2008 Form 1040 (Note 3)Gross Royalty Income
    
    
    100
    
    
    
    X
    
    
    $
    6.587048
    
    
    
    =
    
    
    $
    658.71
    
    
    Line 4, Part I, Schedule ESeverance Tax
    
    
    100
    
    
    
    X
    
    
    $
    .421450
    
    
    
    =
    
    
    $
    42.15
    
    
    Line 16, Part I, Schedule EInterest Income
    
    
    100
    
    
    
    X
    
    
    $
    .020735
    
    
    
    =
    
    
    $
    2.08
    
    
    Line 1, Part I, Schedule BAdministrative Expense
    
    
    100
    
    
    
    X
    
    
    $
    .150146
    
    
    
    =
    
    
    $
    15.02
    
    
    Line 18, Part I, Schedule E
 Part II
 COST DEPLETION (Note 4)
 Cost Depletion
    
    
    
    
    
    
    
    Appropriate 2008Allowable in Prior
    
    
    
    Adjusted Basis for
    
    
    
    Cost Depletion FactorAssumed
    
    
    
    Calendar Years
    
    
    
    Cost Depletion
    
    
    
    per DepletionOriginal Basis*
    
    
    
    (Notes 4 and 5)
    
    
    
    Purposes
    
    
    
    Schedule III
    
    
    
    2008 Cost Depletion**$2,100.00
    
    
    
    $2,012.07
    
    =
    
    $87.93
    
    X
    
    .088337
    
    =
    
    $7.77
 
 *
    
    This number is used for example purposes only. Each Unit holders basis is unique to that specific
Unit holder.**
    
    Reflect cost depletion on 2008 Form 1040, line 20, Part 1, Schedule E (Note 3).   29




---



##### 



COMPREHENSIVE EXAMPLE 2
  Acquisition
    
    Units
    
    Original
    
    Sales
    
    UnitsDate
    
    Acquired
    
    Basis
    
    Date
    
    Sold
    
    Sales Price03-21-84
    
    100
    
    $2,100.00
    
    04-2-08
    
    100
    
    $5,075.00
 COMPUTATION OF INCOME AND EXPENSE FOR UNITS SOLD IN 2008
 SABINE ROYALTY TRUST
TAX COMPUTATION WORKSHEET
 2008
 (RETAIN THIS WORKPAPER AS PART OF YOUR PERMANENT TAX RECORDS)
 Part I
 INCOME AND EXPENSE
See Supplement to Tax Computation Worksheet on Page 31 For Further Explanation
 A
    
    
    
    
    
    B
    
    
    
    
    
    CIncome/Expense Per UnitNumber of
    
    
    
    
    
    from AppropriateUnits Owned
    
    
    
    
    
    Schedule(s)
    
    
    
    
    
    
    
    
    
    Where to Reflect onItem
    
    (Note 1)
    
    
    
    
    
    (Note 2)
    
    
    
    
    
    Totals
    
    
    2008 Form 1040 (Note 3)Gross Royalty Income
    
    
    100
    
    
    X
    
    
    $
    1.312440
    
    
    =
    
    
    $
    131.25
    
    
    Line 4, Part I, Schedule ESeverance Tax
    
    
    100
    
    
    X
    
    
    $
    .092438
    
    
    =
    
    
    $
    9.25
    
    
    Line 16, Part I, Schedule EInterest Income
    
    
    100
    
    
    X
    
    
    $
    .005720
    
    
    =
    
    
    $
    .58
    
    
    Line 1, Part I, Schedule BAdministrative Expense
    
    
    100
    
    
    X
    
    
    $
    .038689
    
    
    =
    
    
    $
    3.87
    
    
    Line 18, Part I, Schedule E
 Part II
 COST DEPLETION (Notes 4 and 5)
 Cost Depletion
    
    
    
    
    
    
    
    Appropriate 2008Allowable in Prior
    
    
    
    Adjusted Basis for
    
    
    
    Cost Depletion FactorAssumed
    
    
    
    Calendar Years
    
    
    
    Cost Depletion
    
    
    
    per DepletionOriginal Basis*
    
    
    
    (Note 5)
    
    
    
    Purposes
    
    
    
    Schedule III
    
    
    
    2008 Cost Depletion**$2,100.00
    
    
    
    $2,012.07
    
    =
    
    $87.93
    
    X
    
    .021513
    
    =
    
    $1.90
 
 *
    
    This number is used for example purposes only. Each Unit holders basis is unique to that specific
Unit holder.**
    
    Reflect cost depletion on 2008 Form 1040, line 20, Part 1, Schedule E (Notes 4 and 5). Part III
 COMPUTATION OF GAIN OR (LOSS) FOR UNITS SOLD
 Where to Reflect onNet Sales
    
    
    
    Adjusted Basis
    
    
    
    Gain
    
    2008 Form 1040Price
    
    
    
    (Note 6)
    
    
    
    (Loss)
    
    (Note 3)$5,075.00
    
    
    
    $86.03
    
    =
    
    $4,988.97
    
    Form 4797,
Part III, Lines 19-24
and Schedule D
   30




---



##### 



COMPREHENSIVE EXAMPLE 2
(Continued)
 SABINE ROYALTY TRUST
 SUPPLEMENT TO TAX COMPUTATION WORKSHEET
 2008
 FOR UNITS HELD FOR ONLY PART OF THE YEAR
 only
  CalculatedMONTH(S) DURING WHICH UNITS WERE OWNED ON A MONTHLY RECORD DATE
    
    FactorJanuary
    
    February
    
    March
    
    April
    
    May
    
    June
    
    July
    
    August
    
    September
    
    October
    
    November
    
    December
    
    Per Unit*Gross Royalty Income
    
    
    .367983
    
    
    
    .528426
    
    
    
    .416031
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1.312440Severance Tax
    
    
    .026052
    
    
    
    .036778
    
    
    
    .029608
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .092438Interest Income
    
    
    .001782
    
    
    
    .002114
    
    
    
    .001824
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .005720Administrative Expense
    
    
    .012612
    
    
    
    .011723
    
    
    
    .014354
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    .038689
 
 *
    
    This column of calculated factors per Unit should be inserted in column B of the Income and
Expense section (Part I) of the Tax Computation Worksheet on page 5.  31




---



##### 



SABINE ROYALTY TRUST HISTORICAL TAX WORKSHEET
 WINDFALL
    
    
    
    
    
    NET
    
    
    
    
    
    
    
    
    
    MISC.
    
    NETGROSS
    
    PROFIT
    
    SEVERANCE
    
    ROYALTY
    
    INTEREST
    
    ADMIN.
    
    INCOME/
    
    CASHINCOME
    
    TAX
    
    TAX
    
    PMTS
    
    INCOME
    
    EXPENSE
    
    EXPENSE
    
    DISTRIB1983
    
    
    2.721361
    
    
    
    0.316613
    
    
    
    0.155445
    
    
    
    2.249303
    
    
    
    0.019377
    
    
    
    0.086800
    
    
    
    0.000000
    
    
    
    2.1818801984
    
    
    3.496106
    
    
    
    0.323679
    
    
    
    0.196022
    
    
    
    2.976405
    
    
    
    0.031846
    
    
    
    0.155652
    
    
    
    0.000000
    
    
    
    2.8525991985
    
    
    2.853378
    
    
    
    0.190767
    
    
    
    0.171256
    
    
    
    2.491355
    
    
    
    0.021277
    
    
    
    0.169099
    
    
    
    -0.005487
    
    
    
    2.3380461986
    
    
    1.807003
    
    
    
    0.041149
    
    
    
    0.114513
    
    
    
    1.651341
    
    
    
    0.012242
    
    
    
    0.184580
    
    
    
    0.005487
    
    
    
    1.4844901987
    
    
    1.648950
    
    
    
    0.000209
    
    
    
    0.095558
    
    
    
    1.553183
    
    
    
    0.010601
    
    
    
    0.127094
    
    
    
    0.000000
    
    
    
    1.4366901988
    
    
    1.556021
    
    
    
    0.000077
    
    
    
    0.101561
    
    
    
    1.454383
    
    
    
    0.010753
    
    
    
    0.098526
    
    
    
    0.000000
    
    
    
    1.3666101989
    
    
    1.594196
    
    
    
    0.000028
    
    
    
    0.131330
    
    
    
    1.462838
    
    
    
    0.013627
    
    
    
    0.096295
    
    
    
    0.000000
    
    
    
    1.3801701990
    
    
    1.748059
    
    
    
    0.000000
    
    
    
    0.155821
    
    
    
    1.592238
    
    
    
    0.014058
    
    
    
    0.075026
    
    
    
    0.000000
    
    
    
    1.5312701991
    
    
    1.810596
    
    
    
    0.000000
    
    
    
    0.188955
    
    
    
    1.621641
    
    
    
    0.010622
    
    
    
    0.084643
    
    
    
    0.000000
    
    
    
    1.5476201992
    
    
    1.556025
    
    
    
    0.000000
    
    
    
    0.132087
    
    
    
    1.423938
    
    
    
    0.005520
    
    
    
    0.135228
    
    
    
    0.000000
    
    
    
    1.2942301993
    
    
    1.751674
    
    
    
    0.000000
    
    
    
    0.126197
    
    
    
    1.625477
    
    
    
    0.005316
    
    
    
    0.169163
    
    
    
    0.000000
    
    
    
    1.4616301994
    
    
    1.422338
    
    
    
    0.000000
    
    
    
    0.094300
    
    
    
    1.328038
    
    
    
    0.005172
    
    
    
    0.135390
    
    
    
    0.000000
    
    
    
    1.1978201995
    
    
    1.257833
    
    
    
    0.000000
    
    
    
    0.086219
    
    
    
    1.171614
    
    
    
    0.007424
    
    
    
    0.151878
    
    
    
    0.000000
    
    
    
    1.0271601996
    
    
    1.650891
    
    
    
    0.000000
    
    
    
    0.102044
    
    
    
    1.548847
    
    
    
    0.009748
    
    
    
    0.187465
    
    
    
    0.000000
    
    
    
    1.3711301997
    
    
    1.955335
    
    
    
    0.000000
    
    
    
    0.144324
    
    
    
    1.811011
    
    
    
    0.010812
    
    
    
    0.177263
    
    
    
    0.000000
    
    
    
    1.6445601998
    
    
    1.937789
    
    
    
    0.000000
    
    
    
    0.123769
    
    
    
    1.814020
    
    
    
    0.011159
    
    
    
    0.171521
    
    
    
    0.000000
    
    
    
    1.6536581999
    
    
    1.663391
    
    
    
    0.000000
    
    
    
    0.115700
    
    
    
    1.547691
    
    
    
    0.008112
    
    
    
    0.148838
    
    
    
    0.000000
    
    
    
    1.4069652000
    
    
    2.586743
    
    
    
    0.000000
    
    
    
    0.157354
    
    
    
    2.429389
    
    
    
    0.016044
    
    
    
    0.170794
    
    
    
    0.000000
    
    
    
    2.2746392001
    
    
    3.240755
    
    
    
    0.000000
    
    
    
    0.210965
    
    
    
    3.029790
    
    
    
    0.014627
    
    
    
    0.183788
    
    
    
    0.000000
    
    
    
    2.8606292002
    
    
    2.175093
    
    
    
    0.000000
    
    
    
    0.125845
    
    
    
    2.049248
    
    
    
    0.003150
    
    
    
    0.173568
    
    
    
    0.000000
    
    
    
    1.8788302003
    
    
    2.930078
    
    
    
    0.000000
    
    
    
    0.214244
    
    
    
    2.715834
    
    
    
    0.003272
    
    
    
    0.196541
    
    
    
    0.000000
    
    
    
    2.5225652004
    
    
    3.277066
    
    
    
    0.000000
    
    
    
    0.271605
    
    
    
    3.005461
    
    
    
    0.003421
    
    
    
    0.222941
    
    
    
    0.000000
    
    
    
    2.7859412005
    
    
    3.874801
    
    
    
    0.000000
    
    
    
    0.304563
    
    
    
    3.570238
    
    
    
    0.011804
    
    
    
    0.150250
    
    
    
    0.000000
    
    
    
    3.4317922006
    
    
    4.733425
    
    
    
    0.000000
    
    
    
    0.376823
    
    
    
    4.356602
    
    
    
    0.024294
    
    
    
    0.144170
    
    
    
    0.000000
    
    
    
    4.2367262007
    
    
    4.334040
    
    
    
    0.000000
    
    
    
    0.361711
    
    
    
    3.972329
    
    
    
    0.023849
    
    
    
    0.145689
    
    
    
    0.000000
    
    
    
    3.8504892008
    
    
    6.587048
    
    
    
    0.000000
    
    
    
    0.421450
    
    
    
    6.165598
    
    
    
    0.020735
    
    
    
    0.150146
    
    
    
    0.000000
    
    
    
    6.036187
  32




---



##### 



SABINE ROYALTY TRUST
 DISCUSSION OF TAX CONSIDERATIONS PERTAINING TO THE
OWNERSHIP OF UNITS IN SABINE ROYALTY TRUST
  Tax Background and WHFIT Information
    Effect of Escrow Arrangement
   A-1




---



##### 



Depletion
 Cost Depletion
    A-2




---



##### 



Percentage Depletion
   Adjustment to Basis
  Non-Passive Activity Income, Credits and Loss
  Depletion Calculator
 www.sbr-sabineroyaltytrust.com
 Nonresident Foreign Unit Holders
    A-3




---



##### 



Sale or Exchange of Units
   Backup Withholding
   A-4




---



##### 



Substantial Understatement Penalty
  State Income Tax
      A-5




---



##### 



A-6




---



##### 



Florida
    
    
    
    Florida Department of Revenue5050 W. Tennessee StreetTallahassee, Florida 32399-0100(850) 488-6800www.myflorida.com/dor/taxesNew Mexico
    
    Individuals:
    
    State of New MexicoTaxation and Revenue Department1100 Saint Francis DriveP.O. Box 630Santa Fe, New Mexico 87504-0630(505) 827-0700, (505) 827-0822www.state.nm.us/taxCorporations:
    
    New Mexico Taxation and Revenue DepartmentAttention: Corporate Income and Franchise TaxP.O Box 25127Santa Fe, New Mexico 87504-5127(505) 827-0825www.state.nm.us/taxMississippi
    
    
    
    Mississippi State Tax CommissionBureau of RevenueP.O. Box 1033Jackson, Mississippi 39215-1033(601) 923-7000www.mstc.state.ms.usLouisiana
    
    Individuals:
    
    Department of Revenue and TaxationState of LouisianaP.O Box 201Baton Rouge, Louisiana 70821(225) 219-0102www.rev.state.la.usCorporations:
    
    Secretary of Revenue and TaxationState of LouisianaP.O. Box 201Baton Rouge, Louisiana 70821(225) 219-0067www.rev.state.la.usOklahoma
    
    Individuals:
    
    Oklahoma Tax CommissionP.O. Box 26800Oklahoma City, OK 73126-0800(405) 521-3160www.oktax.state.ok.usCorporations:
    
    Oklahoma Tax CommissionP.O. Box 26800Oklahoma City, Oklahoma 73126-0800(405) 521-3126www.oktax.state.ok.usTexas
    
    
    
    Texas Comptroller of Public AccountsP.O. Box 13528, Capitol StationAustin, Texas 78711-3528(800) 252-5555www.window.state.tx.us
  A-7




---



#####