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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): June 25, 1999
LL&E ROYALTY TRUST
(Exact name of registrant as specified in its charter)
TEXAS 1-8518 76-6007940
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
CHASE BANK OF TEXAS, NATIONAL ASSOCIATION
CORPORATE TRUST DIVISION
712 MAIN STREET
HOUSTON, TEXAS 77002
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 216-5447
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LL&E ROYALTY TRUST
TABLE OF CONTENTS
FOR
CURRENT REPORT ON FORM 8-K
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Item 5. Other Events..................................... 3
Item 7. Financial Statements, ProForma Financial
Information and Exhibits....................... 3
Signature................................................ 4
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ITEM 5. OTHER EVENTS.
On Friday, June 25, 1999, the registrant issued the press release
attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
Exhibit 99.1 Press release dated June 25, 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LL&E ROYALTY TRUST
By: Chase Bank of Texas, N. A., Trustee
By: /s/ NANCY PUSSLEY
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Nancy Pussley
Vice President
Dated: June 28, 1999
NOTE: Because the Registrant is a trust without officers or employees, only the
signature of an officer of the Trustee is available and has been provided.
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EXHIBIT INDEX
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No. Exhibit
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99.1 Press release dated June 25, 1999.
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Exhibit 99.1
LL&E Royalty Trust Announces Trust Income for July 1999
FOR IMMEDIATE RELEASE
HOUSTON (June 25, 1999)--LL&E Royalty Trust (NYSE SYMBOL - LRT)
announced today the Trust income distribution for the month of July
1999. This distribution represents amounts payable to the Trust with
respect to production for the month of April 1999. Unit holders of
record on July 6, 1999 will receive a distribution of $104,073.10 or
approximately $.005480 per Unit payable on July 15, 1999.
The distribution includes no proceeds from the Offshore Louisiana
properties due to excess production costs. Excess production costs to
be recouped from future proceeds at the Offshore Louisiana property
total $364,000.
The Working Interest Owner, under the terms of the Trust Conveyance,
is permitted to escrow funds for estimated future costs such as
dismantlement costs and capital expenditures for the properties in
which the Trust has an interest. According to the most recent reserve
report, estimated dismantlement costs are $9.6 million for Jay Field
property, $2.6 million for South Pass 89 property and $3.0 million for
Offshore Louisiana property. The Working Interest Owner has informed
the Trust that effective with the July 1999 income distribution, it
will begin escrowing funds from the Jay Field, South Pass 89 and
Offshore Louisiana properties to provide for the Trust's portion of
the estimated costs of dismantling platforms on these properties. The
Working Interest Owner has informed the Trust that it has escrowed
$945,000 for the production month of April 1999.
The extent of future distributions from the properties in which the
Trust has an interest will continue to be dependent on normal factors
associated with oil and gas operations such as oil and gas production
levels, prices and associated cost, timing and extent of capital
expenditures. In addition, the amount of future distributions will
depend on the amounts escrowed by the Working Interest Owner as
described above.
Contact: LL&E Royalty Trust, Houston
Chase Bank of Texas, N.A., as Trustee
Jeffrey D. Dunbar
713/216-5447
http://www.businesswire.com/cnn/lrt.html
