LL&E Royalty Trust (LRT) Reports No Trust Distribution for November 2009

November 2, 2009 1:06 PM EST

LL&E Royalty Trust (NYSE: LRT) announced there will be no Trust income distribution for the month of November 2009 for Unit holders of record on November 5, 2009. This release relates to production for the month of August 2009. Royalty income will be $4,623 while Trust expenses payable will be approximately $4,089. Royalty income received will be used to increase the Trust reserve for expenses. At October 27, 2009 the Trust had unpaid expenses of approximately $690,300.

There is no Royalty income for the month of August from the Jay Field, South Pass 89 or Offshore Louisiana properties. Excess production costs incurred through August 2009 to be recouped from future proceeds at the Jay Field, South Pass 89 and Offshore Louisiana properties totaled $9,797,398, $260,507 and $3,028,397 respectively.

Gross Proceeds prior to deductions for Production Costs for the month of August 2009 by property were as follows: $0 for Jay Field property, $0 for South Pass 89 property, and $0 for Offshore Louisiana property.

Production Costs for the month of August 2009 by property are as follows: ($273,090) for Jay Field property, ($10,123) for South Pass 89 property and $250,406 for Offshore Louisiana property.

As previously announced, the Trustee has received a letter from Quantum Resources Management LLC addressed to all Jay Field royalty interest owners stating that Quantum had temporarily suspended production from the Jay Field on December 22, 2008. The letter stated that Quantum's decision to suspend production resulted from the dramatic decline in oil prices coupled with high operating expenses. [SM]

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