San Juan Basin Royalty Trust Declares Monthly Cash Distribution

FORT WORTH, Texas--(Business Wire)--
Compass Bank, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT), today
declared a monthly cash distribution to the holders of its units of beneficial
interest of $1,224,461.72 or $0.026271 per unit, based principally upon
production during the month of March 2009. The distribution is payable June 12,
2009, to unit holders of record as of May 29, 2009.

Gas production for the properties from which the royalty was carved (the
"Underlying Properties") totaled approximately 3,076,126 Mcf (3,325,116 MMBtu).
Dividing revenues by production volume yielded an average gas price for March
2009 of $2.75 per Mcf ($2.54 per MMBtu) as compared to $3.10 per Mcf ($2.88 per
MMBtu) for February 2009. The average gas price may vary significantly from the
posted index price for the San Juan Basin. The index price is a gross sales
price, and the revenues used in the calculation of average gas prices are net of
transportation, processing and gathering costs. Furthermore, the distribution to
the Trust in any given month may include significant volume adjustments for
sales in prior months that reflect pricing for those prior months. Capital costs
for the month were $3,428,930. Lease operating expenses were $2,450,472 and
taxes were $850,123.

San Juan Basin Royalty Trust
Compass Bank
Lee Ann Anderson, Vice President & Senior Trust Officer
Kaye Wilke, Investor Relations, toll-free: 866-809-4553
Fax: 817-735-0936
Website: www.sjbrt.com
E-mail: sjt@compassbank.com

Copyright Business Wire 2009