FORT WORTH, Texas, Dec. 18, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of December 31, 2020 and payable on January 15, 2021 in the amount of $181,440.02  ($0.014914 per Trust Unit), based principally upon production during the month of October 2020.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.31 million for the current month, an increase of $0.09 million from the prior month's distribution period.  This increase was due to an increase in sales volumes.  

Natural gas cash receipts for the properties underlying the Trust totaled $0.09 million for the current month, a decrease of $0.02 from the prior month's distribution period.  This decrease was due to a decrease in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.55 million reflecting a $0.01 million decrease from the prior month. Severance and ad valorem taxes were $0.18 million.

Capital expenditures were $0.40 million in the current month reflecting a $0.19 million increase from the prior month due to costs associated with converting two wells to injection for secondary recovery in the Kingdom Clearfork Field.  Boaz Energy informed the Trust that this month's net profits calculation included $100,000 net to the Trust of funds reserved by Boaz Energy to cover future capital obligations and expenses. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and statements regarding Boaz Energy's operations and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by volatility in commodity prices.  Oil prices have declined since the beginning of 2020 in response to oversupply and the economic effects of the COVID-19 pandemic. Further, continued low oil and natural gas prices may result in no distributions to unitholders in certain periods. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Nov. 19, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of November 30, 2020 and payable on December 14, 2020 in the amount of $247,982.07  ($0.020383 per Trust Unit), based principally upon production during the month of September 2020.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.22 million for the current month, a decrease of $0.19 million from the prior month's distribution period.  This decrease was due to a decrease in sales volumes and oil prices.  

Natural gas cash receipts for the properties underlying the Trust totaled $0.11 million for the current month, which is unchanged from the prior month's distribution period.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.56 million reflecting a $0.06 million increase from the prior month. Severance and ad valorem taxes were $0.17 million.

Capital expenditures were $0.21 million in the current month reflecting a $0.13 million decrease from the prior month due to a reduction in re-entry work in the Kingdom Abo operating area.  Boaz Energy informed the Trust that this month's net profits calculation included $80,000 net to the Trust of funds reserved by Boaz Energy to cover future capital obligations and expenses. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and statements regarding Boaz Energy's operations and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to oversupply and the economic effects of the COVID-19 pandemic. Further, continued low oil and natural gas prices may result in no distributions to unitholders in certain periods. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Oct. 20, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of October 30, 2020 and payable on November 16, 2020 in the amount of $164,082.52 ($0.013487 per Trust Unit), based principally upon production during the month of August 2020.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.41 million for the current month, a decrease of $0.02 million from the prior month's distribution period.  This decrease was due to a decrease in sales volumes.  

Natural gas cash receipts for the properties underlying the Trust totaled $0.11 million for the current month, an increase of $0.03 million from the prior month's distribution period.  This increase was due to an increase in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.50 million reflecting a $0.19 million decrease from the prior month. Severance and ad valorem taxes were $0.18 million.

Capital expenditures were $0.34 million in the current month reflecting a $0.21 million increase from the prior month.  Boaz Energy reported these expenditures primarily related to running a casing liner in the Kingdom Abo operating area.  Boaz Energy informed the Trust that this month's net profits calculation included $104,000 net to the Trust of funds reserved by Boaz Energy to cover future capital obligations and expenses. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and statements regarding Boaz Energy's operations and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Further, continued low oil and natural gas prices may result in no distributions to unitholders in certain periods. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Sept. 18, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a $0.010000 cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of September 30, 2020.  The distribution will be paid on October 15, 2020.  The net profits calculation was based principally upon production during the month of July 2020 and includes $121,657 in net profits income to be distributed to the Trust, $75,626 of which amount will be used to cover Trust administrative expenses.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.43 million for the current month, an increase of $0.04 million from the prior month distribution period due to increased oil prices in July 2020 that offset the slight decrease in production. Boaz Energy reported that normal production operations resumed in early June 2020 following the shut in of a material amount of production from the properties underlying the Trust during portions of May 2020 due to oil price uncertainties.

Natural gas cash receipts for the properties underlying the Trust totaled $0.08 million for the current month, an increase of $0.02 million from the prior month's distribution period due to an increase in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.69 million reflecting a $0.05 million increase from the prior month. Severance and ad valorem taxes were $0.18 million.

Capital expenditures were $0.13 million in the current month reflecting a $0.08 million increase from the prior month.  Boaz Energy reported these expenditures primarily related to drilling and completion operations on non-operated properties in Crane County.  Boaz Energy informed the Trust that this month's net profits calculation included $117,802 net to the Trust of funds reserved by Boaz Energy to cover future capital obligations and expenses. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and Boaz Energy's operations with regard to producing leases, anticipated drilling and completion activities and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Further, continued low oil and natural gas prices may continue to result in no distributions to unitholders for an unknown period of time. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Aug. 21, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE: PRT) (the "Trust") today declared there will be no monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of August 31, 2020.  The net profits calculation was based principally upon production during the month of June 2020 and includes $45,428 in net profits income to be distributed to the Trust, which amount will be used to cover Trust administrative expenses.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.39 million for the current month, an increase of $1.11 million from the prior month distribution period due to increased production and oil prices in June 2020. Boaz Energy reported that normal production operations resumed in early June 2020 following the shut in of a material amount of production from the properties underlying the Trust during portions of May 2020 due to oil price uncertainties.

Natural gas cash receipts for the properties underlying the Trust totaled $0.06 million for the current month, an increase of $0.01 million from the prior month's distribution period due to an increase in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.64 million reflecting a $0.29 million increase from the prior month. Severance and ad valorem taxes were $0.18 million.

Capital expenditures were $0.05 million in the current month reflecting a $0.02 million increase from the prior month.  Boaz Energy reported these expenditures primarily related to drilling and completion operations on non-operated properties in Crane County.  Boaz Energy informed the Trust that this month's net profits calculation included $320,960 net to the Trust of funds reserved by Boaz Energy to cover capital obligations and expenses.  Boaz Energy indicated $140,606 of those funds were applied as recoupment of the $140,606 advancement Boaz Energy made to the Trust in July 2020, while the remaining $180,354 was reserved by Boaz Energy to cover Boaz Energy's future capital obligations and expenses.   

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and Boaz Energy's operations with regard to producing leases, anticipated drilling and completion activities and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Further, continued low oil and natural gas prices may continue to result in no distributions to unitholders for an unknown period of time. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, July 21, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared there will be no monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of July 31, 2020.  The net profits calculation was based principally upon production during the month of May 2020 and includes $84,265.24 in net profits income to be distributed to the Trust, which amount will be used to cover Trust administrative expenses.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $0.28 million for the current month, a decrease of $0.31 million from the prior month distribution period.  Boaz Energy reported that in response to oil price uncertainties, it shut in a material amount of production from the properties underlying the Trust for a period beginning in early May 2020 and continuing through May 20, 2020.  Boaz Energy reports it began to increase sales from a limited number of producing leases in late May 2020, and that normal production operations resumed in early June 2020.

Natural gas cash receipts for the properties underlying the Trust totaled $0.05 million for the current month, an increase of $0.03 million from the prior month's distribution period due to an increase in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.35 million reflecting a $0.06 decrease from the prior month. Severance and ad valorem taxes were $0.13 million.

Capital expenditures were $0.03 million in the current month reflecting a $0.16 million reduction from the prior month.  Boaz Energy reported these expenditures primarily related to drilling and completion operations on non-operated properties in Crane County.  Boaz Energy previously held back funds to cover future capital obligations and expenses.  Boaz Energy indicated this month's net profits calculation included the application of $240,902 ($192,721 net to the Trust) of those funds Boaz Energy previously held back, plus an additional advancement from Boaz Energy to the Trust in the amount of $140,606.  Boaz Energy indicated it anticipates recoupment of the $140,606 advancement out of next month's calculation of the Trust's net profits interest.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and Boaz Energy's operations with regard to producing leases, anticipated drilling and completion activities and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined sharply since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Further, continued low oil and natural gas prices may continue to result in no distributions to unitholders for an unknown period of time. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, June 19, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared there will be no monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of June 30, 2020.  The net profits calculation was based principally upon production during the month of April 2020 and includes $79,552.27 in net profits income to be distributed to the Trust, which amount will be used to cover Trust administrative expenses.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $0.59 million for the current month, a decrease of $0.68 million from the prior month distribution period.  This decrease was due to a decrease in sales volumes and oil prices. 

Natural gas cash receipts for the properties underlying the Trust totaled $0.02 million for the current month and did not reflect a significant change from the prior month's distribution period.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.41 million and did not reflect a significant change from the prior month. Severance and ad valorem taxes were $0.14 million.

Capital expenditures were $0.19 million in the current month and did not reflect a significant change from the prior month.  Boaz Energy reported these expenditures primarily related to drilling and completion operations on non-operated properties in Crane County.  Boaz Energy previously held back funds to cover future capital obligations and expenses.  Boaz Energy indicated this month's net profits calculation included the application of $359,561 ($287,649 net to the Trust) of those funds Boaz Energy previously held back. The current balance of capital Boaz Energy has held back to cover future expenses is $204,901 ($192,721 net to the Trust).

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions or recoupments from distributions, and Boaz Energy's anticipated drilling and completion activities and the resulting impact on the computation of the Trust's net profits. Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, April 20, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared there will be no monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of April 30, 2020.  The net profits calculation was based principally upon production during the month of February 2020 and includes $243,326.13 in net profits income to be distributed to the Trust, which amount will be used to cover Trust administrative expenses and to establish cash reserves.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.18 million for the current month, a decrease of $0.38 million from the prior month distribution period.  This decrease was due to a decrease in sales volumes and oil prices. 

Natural gas cash receipts for the properties underlying the Trust totaled $0.07 million for the current month.  This was a decrease of $0.03 from the prior month's distribution period due to a decrease in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.58 million, a decrease of $0.09 million from the prior month. Severance and ad valorem taxes were $0.22 million.

Capital expenditures were $0.63 million in the current month, a decrease of $0.16 million from the prior month.  Boaz Energy reported these expenditures primarily related to drilling and completion operations on non-operated properties in Crane County.  Boaz Energy indicated this month's net profits calculation included capital hold back in the amount of $381,878 ($305,502 net to the Trust).  The capital hold back included $80,000 net to the Trust in recoupment of previously advanced amounts plus $225,502 net to the Trust for future capital expenditures.

The Trustee has retained $100,000 from the distributions the Trust received in April 2020 as a cash reserve.  Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee was authorized to begin retaining cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Including the amount retained this month, the Trust's cash reserve totals $1,000,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions or recoupments from distributions, and Boaz Energy's anticipated drilling and completion activities and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Feb. 18, 2020 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of February 28, 2020, and payable on March 13, 2020 in the amount of $621,858.66 ($0.051115 per Trust Unit), based principally upon production during the month of December 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.68 million for the current month, an increase of $0.29 million from the prior month distribution period.  This increase was due to an increase in sales volumes and oil prices. 

Natural gas cash receipts for the properties underlying the Trust totaled $0.10 million for the current month, which was essentially unchanged from the prior month distribution period. 

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.44 million, a decrease of $0.24 million from the prior month. Severance and ad valorem taxes were $0.15 million.

Capital expenditures were $0.48 million in the current month, a decrease of $0.32 million from the prior month.  Boaz Energy indicated that the decrease was primarily due to a reduction in Boaz-operated drilling and completion activity in Terry County, Texas. As previously reported, Boaz Energy advanced funds to the Trust to cover capital obligations in prior months.  Boaz Energy indicated this month's net profits calculation included $625,000 ($500,000 net to the Trust) in recoupment of the previously advanced amounts.  Boaz Energy intends to recoup the balance of $322,000 in development expenses over the next two to four months.

The Trustee has retained $100,000 from the distributions the Trust received in February 2020 as a cash reserve.  Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee was authorized to begin retaining cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. Including the amount retained this month, the Trust's cash reserve totals $800,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions or recoupments from distributions, and Boaz Energy's anticipated drilling and completion activities and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 1, 2019 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Nov. 18, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of November 29, 2019, and payable on December 13, 2019 in the amount of $454,168.47 ($0.037331 per Trust Unit), based principally upon production during the month of September 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.51 million for the current month, an increase of $0.07 million from the prior month distribution period.  This increase was due to an increase in oil prices. Natural gas cash receipts for the properties underlying the Trust totaled $0.07 million for the current month, an increase of $0.01 million from the prior month distribution period.  This increase was due to an increase in natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.62 million, a decrease of $0.17 million from the prior month. Severance and ad valorem taxes were $0.24 million. 

Capital expenditures were $0.70 million in the current month, an increase of $0.19 million from the prior month.  Boaz Energy indicated that the increase was primarily due to increased drilling activity in Crane County, Texas on acreage not operated by Boaz Energy. Boaz Energy anticipates drilling 1 additional Kingdom Clearfork well in the 4^th quarter of 2019 as well as implementing new waterflood patterns in the Kingdom Clearfork area and the Permian Platform area. Boaz Energy continued to recoup capital spent as part of the recent Kingdom Clearfork well, and this month Boaz Energy held back $162,500 ($130,000 net to the Trust). 

The Trustee has retained $100,000 from the distributions the Trust received in November 2019 as a cash reserve.  Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee was authorized to begin retaining cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. Including the amount retained this month, the Trust's cash reserve totals $500,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions from distributions, and Boaz Energy's anticipated drilling and completion activities, the estimated cost of such activities, the viability of wells and waterflood patterns and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 1, 2019 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Oct. 21, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of October 31, 2019, and payable on November 15, 2019 in the amount of $496,082.10 ($0.040777 per Trust Unit), based principally upon production during the month of August 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.44 million for the current month, a decrease of $0.27 million from the prior month distribution period. This decrease was due to a decrease in oil prices and sales volumes. Natural gas cash receipts for the properties underlying the Trust totaled $0.06 million for the current month, an increase of $0.01 million from the prior month distribution period. This increase was due to an increase in natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.79 million, an increase of $0.21 million from the prior month. Severance and ad valorem taxes were $0.24 million. 

Capital expenditures were $0.51 million in the current month, a decrease of $0.06 million from the prior month. Boaz Energy indicated that the decrease was primarily due to decreased activity in the Kingdom Clearfork area. Boaz Energy anticipates drilling 1 to 2 additional Kingdom Clearfork wells in the 4^th quarter of 2019 as well as implementing a new waterflood pattern. Boaz continued to recoup capital spent as part of the recent Kingdom Clearfork well, and this month Boaz held back $60,000 ($48,000 net to the Trust). 

The Trustee has retained $100,000 from the distributions the Trust received in October 2019 as a cash reserve. Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee is authorized to retain cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. Including the amount retained this month, the Trust's cash reserve totals $400,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions from distributions, and Boaz Energy's anticipated drilling and completion activities, the estimated cost of such activities, the viability of wells and waterflood patterns and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 1, 2019 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Sept. 20, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of September 30, 2019, and payable on October 15, 2019 in the amount of $851,777.05 ($0.070014 per Trust Unit), based principally upon production during the month of July 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.71 million for the current month, an increase of $0.52 million from the prior month distribution period.  This increase was due to an increase in oil prices and sales volumes. Natural gas cash receipts for the properties underlying the Trust totaled $0.05 million for the current month, an amount that was stable in comparison to the prior month distribution period. 

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.58 million, an increase of $0.13 million from the prior month. Severance and ad valorem taxes were $0.25 million.

Capital expenditures were $0.57 million in the current month, a decrease of $0.55 million from the prior month.  Boaz Energy indicated that the decrease was primarily because the majority of the capital required to drill the previously reported Terry County Clearfork well was accounted for in prior months.  Boaz Energy reported the Terry County Clearfork well was put on pump September 1, 2019.  The average gross production rate for the first 15 days of September 2019 was 223 barrels of oil per day. Boaz Energy believes additional well locations and waterflood patterns are now viable based on well results and 3D seismic data.  Boaz Energy anticipates drilling 1 to 2 additional Kingdom Clearfork wells in the 4^th quarter of 2019 as well as implementing a new waterflood pattern.

The Trustee has retained $58,000 from the distributions the Trust received in September 2019 as a cash reserve.  Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee is authorized to retain cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. Including the amount retained this month, the Trust's cash reserve totals $300,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions from distributions, and Boaz Energy's anticipated drilling and completion activities, the estimated cost of such activities, the viability of wells and waterflood patterns and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 1, 2019 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Aug. 20, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of August 30, 2019, and payable on September 16, 2019 in the amount of $852,441.52 ($0.070069 per Trust Unit), based principally upon production during the month of June 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.19 million for the current month, a decrease of $0.35 million from the prior month distribution period. This decrease was due to a decrease in oil prices and sales volumes. Natural gas cash receipts for the properties underlying the Trust totaled $0.05 million for the current month, a decrease of $0.02 million from the prior month distribution period as a result of a decrease in natural gas prices that was not offset by the increase in sales volumes.   

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.45 million, a decrease of $0.03 million from the prior month. Severance and ad valorem taxes were $0.22 million. 

Capital expenditures were $1.12 million in the current month, an increase of $0.81 million from the prior month. Boaz Energy indicated that the capital was primarily spent for a new well in the Permian Clearfork area and included $468,750 ($375,000 net to the Trust) reserved by Boaz Energy from net profits as previously reported and $400,000 ($320,000 net to the Trust) that Boaz Energy reports will be included in development expenses over the next 2 to 3 months. Boaz Energy indicated that the new producing well was successfully completed in August 2019 and is expected to be on line for sales in the next 3 weeks.

The Trustee has retained $54,000 from the distributions the Trust received in August 2019 as a cash reserve. Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee is authorized to retain cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. Including the amount retained this month, the Trust's cash reserve totals $242,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions from distributions, and Boaz Energy's anticipated drilling and completion activities, the estimated cost of such activities and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 1, 2019 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, July 19, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of July 31, 2019, and payable on August 14, 2019 in the amount of $852,107.41 ($0.070041 per Trust Unit), based principally upon production during the month of May 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.54 million for the current month, a decrease of $0.07 million from the prior month distribution period. This decrease was due to the decrease in oil prices and despite the increase in sales volumes. Natural gas cash receipts for the properties underlying the Trust totaled $0.06 million for the current month, a decrease of $0.03 million from the prior month distribution period as a result of decreased sales prices and sales volumes.   

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.65 million, an increase of $0.03 million from the prior month. Severance and ad valorem taxes were $0.24 million. 

Capital expenditures were $0.32 million in the current month, a decrease of $0.07 million from the prior month. Boaz Energy indicated that the capital was primarily spent in the Permian Clearfork area. Boaz Energy has advised the Trustee that $50,000 in capital accrual was included in the July net profits calculation.

The Trustee has retained $48,000 from the distributions the Trust received in July 2019 as a cash reserve. Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee is authorized to retain cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. Including the amount retained this month, the Trust's cash reserve totals $188,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions from distributions, and Boaz Energy's anticipated drilling activities, the estimated cost of such activities and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 1, 2019 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, June 18, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of June 28, 2019, and payable on July 15, 2019 in the amount of $880,690.45 ($0.072391 per Trust Unit), based principally upon production during the month of April 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.61 million for the current month, an increase of $0.01 million from the prior month distribution period as a result of increased sales prices.  

Natural gas cash receipts for the properties underlying the Trust totaled $0.09 million for the current month, a decrease of $0.07 million from the prior month distribution period as a result of decreased sales prices.   

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.62 million, an increase of $0.17 million from the prior month. Severance and ad valorem taxes were $0.25 million. 

Capital expenditures were $0.39 million in the current month, an increase of $0.16 million from the prior month.  Boaz Energy indicated that the capital was primarily spent for drilling and completion operations in the Permian Platform area. The increase in capital expenditures was primarily related to Crane County drilling and completion activities conducted by third-party operators.

The Trustee has retained $75,000 from the distributions the Trust received in June 2019 as a cash reserve.  Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), the Trustee is authorized to retain cash up to an aggregate of $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. Including the amount retained this month, the Trust's cash reserve totals $140,000. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and Boaz Energy's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions from distributions, and Boaz Energy's anticipated drilling activities, the estimated cost of such activities and the resulting impact on the computation of the Trust's net profits. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, Boaz Energy's ability to obtain the required permits for anticipated drilling activities, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 1, 2019 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, May 20, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of May 31, 2019, and payable on June 14, 2019 in the amount of $0.090091 per Trust Unit, based principally upon production during the month of March 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.60 million for the current month, an increase of $0.51 million from the prior month distribution period as a result of increased sales volumes and a longer production month in March 2019, as well as from the Permian Basin oil differential returning to more historic norms in the production month of March 2019.   

Natural gas cash receipts for the properties underlying the Trust totaled $0.16 million for the current month, a decrease of $0.10 million from the prior month distribution period as a result of decreased sales prices.   

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.45 million, a decrease of $0.25 million from the prior month. Severance and ad valorem taxes were offset by a one-time severance tax refund of $0.29 million on Boaz Energy's Terry County Clearfork waterflood. Going forward, the Terry County Clearfork field qualifies for a 50% reduction in severance tax as the result of the secondary recovery efforts. This offset resulted in a net positive cashflow to the Trust of $0.05 million, after reducing the total refund amount by the amount of oil and gas severance taxes and ad valorem taxes for the current month.  

Capital expenditures were $0.23 million in the current month, a decrease of $0.03 million from the prior month. Boaz Energy indicated that the capital was primarily spent for drilling and completion operations in the Permian Platform area. Assuming it obtains the required permits, Boaz Energy expects to drill a new operated well in the Permian Clearfork area at an estimated cost of $1.20 million. The majority of the development expenses of that well would be applied to the computation of the Trust's net profits over a period of four to six months. Boaz Energy has advised the Trustee that $325,000 in capital accrual was included in the May net profits calculation.

The Trustee has retained $65,000 from the distributions the Trust received in May 2019. Pursuant to the amended and restated Trust Agreement, dated as of May 4, 2018, by and among Boaz Energy, the Trustee and Wilmington Trust, National Association (the "Trust Agreement"), following the monthly period ended April 30, 2019, the Trustee is authorized to retain cash up to $1.0 million from the distributions the Trust receives to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due. Accordingly, the Trustee will retain cash from distributions in amounts as the Trustee determines, but not less than $25,000 per month or more than $100,000 per month until such time as the Trust's cash reserve equals or exceeds $1.0 million. 

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, April 18, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of April 30, 2019, and payable on May 14, 2019 in the amount of $0.054990 per Trust Unit, based principally upon production during the month of February 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.09 million for the current month, a decrease of $0.02 million from the prior month distribution period as a result of decreased sales volumes and a shorter production month in February 2019. Permian Basin oil differentials significantly impacted the prices received for oil produced in February 2019.  Boaz Energy indicated it anticipates the differential to return to a more historic norm starting in the production month of March 2019.

Natural gas cash receipts for the properties underlying the Trust totaled $0.26 million for the current month, an increase of $0.16 million from the prior month distribution period as a result of additional natural gas liquids payments that were owed to Boaz Energy from November 2018 and January of 2019 that were corrected by the purchaser.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.70 million, an increase of $0.06 million from the prior month. Severance and ad valorem taxes were $0.25 million.

Capital expenditures were $0.26 million in the current month, a decrease of $0.23 million from the prior month.  Boaz Energy indicated that the capital was primarily spent for drilling and completions in Crane and Glasscock counties.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, March 19, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of March 29, 2019, and payable on April 12, 2019 in the amount of $0.041582 per Trust Unit, based principally upon production during the month of January 2019.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.11 million for the current month, an increase of $0.15 million from the prior month distribution period as a result of increased sales volumes. Permian Basin oil differentials significantly impacted the prices received for oil produced in January 2019.  Boaz Energy indicated it anticipates the differential to return to a more historic norm starting in the production month of March 2019.

Natural gas cash receipts for the properties underlying the Trust totaled $0.10 million for the current month, a decrease of $0.08 million from the prior month distribution period as a result of a decrease in the price received for natural gas.  This was primarily a function of a gas purchaser incorrectly accounting for natural gas liquids in Crane County.  This will be corrected and accounted for in subsequent distributions.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.64 million, a decrease of $0.07 million from the prior month. Severance and ad valorem taxes were $0.25 million, an increase of $0.09 million from the prior month.

Capital expenditures were $0.49 million in the current month, an increase of $0.14 million from the prior month.  Boaz Energy indicated that the capital was primarily spent for drilling and completions in Crane and Glasscock counties.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Feb. 15, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of February 28, 2019, and payable on March 14, 2019 in the amount of $0.040955 per Trust Unit, based principally upon production during the month of December 2018.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.96 million for the current month, a decrease of $0.29 million from the prior month distribution period as a result of a decrease in sales prices compared to the prior month.

Natural gas cash receipts for the properties underlying the Trust totaled $0.18 million for the current month, an increase of $0.08 million from the prior month distribution period as a result of an increase in sales volumes and gas prices compared to the prior month. Basin differentials continue to affect oil and gas prices.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.71 million, a decrease of $0.05 million from the prior month. Severance and ad valorem taxes were $0.16 million, a decrease of $0.17 million from the prior month.

Capital expenditures were $0.35 million in the current month, a decrease of $0.10 million from the prior month.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Jan. 18, 2019 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of January 31, 2019 and payable on February 14, 2019 in the amount of $0.087678 per Trust Unit, based principally upon production during the month of November 2018.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.25 million for the current month, a decrease of $0.41 million from the prior month distribution period as a result of a decrease in sales volumes and oil prices compared to the prior month.

Natural gas cash receipts for the properties underlying the Trust totaled $0.10 million for the current month, a decrease of $0.15 million from the prior month distribution period as a result of a decrease in sales volumes and gas prices compared to the prior month. The production month of November has one less day than the previous production month of October. Further, lower natural gas prices for the month of November primarily relate to the renegotiation and extension of a longer-term contract for the sale of natural gas at market prices.  In the meantime, Boaz Energy received and expects to be paid lower, short-term sales prices until the longer-term contract is effective.  Boaz Energy projects that contract to be effective February 1, 2019. 

Hedge settlement revenue in the amount of $550,850 has also been included in the calculation of net proceeds.  Basin differentials continue to affect oil and gas prices.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.76 million, an increase of $0.06 million from the prior month. Severance and ad valorem taxes were $0.33 million, a decrease of $0.18 million from the prior month.  

Capital expenditures were $0.45 million in the current month, an increase of $0.26 million from the prior month.  Boaz Energy has advised the Trustee that the increase in capital expenditures reported in recent months was primarily attributable to pre-payment for non-operated drilling in Glasscock County, Texas as well as continued drilling and completion operations on non-operated acreage in Crane County, Texas.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Dec. 20, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of December 31, 2018 and payable on January 15, 2019 in the amount of $0.114594 per Trust Unit, based principally upon production during the month of October 2018.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.66 million for the current month, an increase of $0.20 million from the prior month distribution period as a result of an increase in sales volumes and oil prices compared to the prior month.

Natural gas cash receipts for the properties underlying the Trust totaled $0.25 million for the current month, a decrease of $0.02 million from the prior month distribution period as a result of a decrease in gas prices compared to the prior month. Hedge settlement revenue in the amount of $165,350 has also been included in the calculation of net proceeds.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.70 million, an increase of $0.10 million from the prior month. Severance and ad valorem taxes were $0.51 million, an increase of $0.23 million from the prior month.  Boaz Energy advised the Trustee that it increased the accrual for 2018 ad valorem tax to bring those accruals in line with expected actual taxes due.

Capital expenditures were $0.19 million in the current month, a decrease of $0.43 million from the prior month.  Boaz Energy has advised the Trustee that the increase in capital expenditures reported in recent months was primarily attributable to non-operated drilling and completions as a result of which production is starting to come on-line in the Crane County, Texas wells.

Qualified De Minimis Sale

The Trust announced on November 19, 2018 that Boaz Energy has sold and assigned its interest in certain leases located in Ward County, Texas as a result of a Qualified De Minimis Sale as contemplated by Section 3.02(c) of the Amended and Restated Trust Agreement of the Trust.  Boaz Energy received $234,341 in consideration of the sale of its interest, which amount has been included in this month's calculation of net proceeds.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Nov. 19, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of November 30, 2018 and payable on December 14, 2018 in the amount of $0.067419 per Trust Unit, based principally upon production during the month of September 2018.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.46 million for the current month, a decrease of $0.30 million from the prior month distribution period as a result of a decrease in sales volumes and oil prices compared to the prior month. Boaz Energy (as defined below) advised the Trustee that the decrease in sales price was primarily attributable to a worsening in the regional differentials to NYMEX, primarily the Midland Cushing differential and the West Texas Sour differential.     

Natural gas cash receipts for the properties underlying the Trust totaled $0.27 million for the current month, an increase of $0.05 million from the prior month distribution period as a result of an increase in sales volumes and gas prices compared to the prior month.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.60 million, an increase of $0.03 million from the prior month. Severance and ad valorem taxes were $0.28 million, a decrease of $0.01 million from the prior month. 

Capital expenditures were $0.62 million in the current month, an increase of $0.41 million from the prior month.  Boaz Energy advised the Trustee that capital expenditures were primarily attributable to non-operated drilling and completions.

Qualified De Minimis Sale

The Trust today announced that Boaz Energy has sold and assigned its interest in certain leases located in Ward County, Texas.

After consultation with its independent petroleum engineering firm, Boaz Energy certified to the Trust and the Trustee that the transaction is a Qualified De Minimis Sale as contemplated by Section 3.02(c) of the Amended and Restated Trust Agreement of the Trust in that the buyer is not an affiliate of the Trust, the sale relates to an interest in the properties underlying the Trust that accounted for less than 1.0% of total production from those properties during the most recent 12 calendar months, and the aggregate fair value of the portion of the Trust's net profits interest released by the Trustee, together with all other portions of its net profits interest released during the immediately preceding 365-day period does not exceed $500,000.

Boaz Energy has received $234,341 in consideration of the sale of its interest, which is expected to be included in the calculation of net proceeds to be distributed to the Trust in December 2018.

The Trustee has delivered a release of the Trust's net profits interest in those leases.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Oct. 19, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of October 31, 2018 and payable on November 15, 2018 in the aggregate amount of $1,409,766.02 or $0.115880 per Trust Unit, based principally upon production during the month of August 2018.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $2.76 million for the current month, a decrease of $0.27 million from the prior month distribution period as a result of a decrease in sales volumes and oil prices compared to the prior month. Boaz Energy (as defined below) advised the Trustee that the decrease in sales price was primarily attributable to a lower NYMEX average oil price in August and a worsening in the regional differentials to NYMEX, primarily the Midland Cushing differential and the West Texas Sour differential.  For additional information on the regional differentials, see the Operational Update posted this month to the Trust's website at http://www.permrock.com/files/doc_downloads/PermRock-Royalty-Trust-10-09-2018-Operational-Update_vF.pdf.    

Natural gas cash receipts for the properties underlying the Trust totaled $0.22 million for the current month, a decrease of $0.06 million from the prior month distribution period as a result of a decrease in sales volumes. Boaz Energy advised the Trustee that the decrease in sales volumes was primarily attributable to a gas plant being down in Crane County, which decrease in volumes more than offset an increase in the average price.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.57 million, an increase of $0.05 million from the prior month. Severance and ad valorem taxes were $0.29 million, a decrease of $0.01 million from the prior month. 

Capital expenditures were $0.21 million in the current month, a decrease of $0.09 million from the prior month.  Boaz Energy advised the Trustee that capital expenditures were primarily attributable to non-operated drilling and completions.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering, and in the Trust's Quarterly Reports on Form 10-Q and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, Sept. 18, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of September 28, 2018 and payable on October 15, 2018 in the aggregate amount of $1,595,841.08 or $0.131175 per Trust Unit, based principally upon production during the month of July 2018.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $3.03 million for the current month, an increase of $0.37 million from the prior month distribution period as a result of an increase in sales volumes and oil prices compared to the prior month. Boaz Energy (as defined below) advised the Trustee that the increase in sales volumes was primarily attributable to one more day of production in July compared to June, and the increase in sales price was primarily attributable to higher oil prices and a slight improvement in the regional differentials to NYMEX, primarily the Midland Cushing differential and the West Texas Sour differential.

Natural gas cash receipts for the properties underlying the Trust totaled $0.28 million for the current month, an increase of $0.03 million from the prior month distribution period as a result of an increase in sales volumes and natural gas prices compared to the prior month. Boaz Energy advised the Trustee that the increase in sales volumes was primarily attributable to one more day in July compared to June, and the increase in sales price was primarily attributable to higher natural gas prices.

Total direct operating expenses, including lease operating expenses and workover expenses, were $0.52 million, a decrease of $0.08 million from the prior month. Severance and ad valorem taxes were $0.30 million, an increase of $0.08 million from the prior month.  Boaz Energy advised the Trustee that it has increased the accrual for 2018 ad valorem tax based on newly received 2018 estimates.

Capital expenditures were $0.30 million in the current month, a decrease of $0.19 million from the prior month.  Boaz Energy advised the Trustee that capital expenditures were primarily attributable to continued participation in non-operated drilling and completions in Crane, Ward, and Glasscock counties.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering. The risk factors and other factors noted in the Trust's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, June 19, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of June 29, 2018 and payable on July 16, 2018 in the aggregate amount of $1,383,687.62 or $0.113736 per Trust Unit, based principally upon production during the month of April 2018.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $3.2 million for the current month, a decrease of $0.06 million from the prior month distribution period as a result of a reduction in sales volumes compared to the prior month.  The reduction in sales volumes was primarily attributable to decreased oil sales in the Permian Clearfork and Permian Platform operating areas.

Natural gas cash receipts decreased slightly from $0.23 million in the prior distribution period to $0.21 million in the current month due to a decrease in natural gas volumes.  The reduction in sales volumes was primarily attributable to decreased gas sales in the Permian Platform operating area.

Total direct operating expenses, including lease operating expenses, and production and ad valorem taxes, were $0.6 million, an increase of $0.1 million from the prior month.

Capital expenditures were $0.4 million in the current month.  Boaz Energy advised the Trustee that capital expenditures were primarily attributable to projects in the Permian Platform, Permian Clearfork and Permian Shelf operating areas.  Capital expenditures in the Permian Platform operating area were primarily associated with drilling and completion operations on three non-operated wells in Crane County. One well was brought online during the month of April with the additional two wells expected to come online in the third quarter of 2018. Additionally, two workovers were performed by Boaz in the Peak Victor field to add pay and stimulate the reservoir with acid.  Capital expenditures in the Permian Clearfork operating area were primarily associated with conformance work associated with the Kingdom Clearfork waterflood in Terry County. Additional pay was completed in three injections wells in an effort to optimize flood patterns and maximize flood response. As a result, offset producers saw a temporary drop in oil production as the newly exposed reservoir begins to fill up. Boaz Energy also advised that oil production should return to previous levels once the fill-up is achieved in the newly exposed reservoir. Capital expenditures in the Permian Shelf operating area were primarily associated with a recompletion of a non-operated well in Glasscock County.

The distribution for the current month was reduced by the original listing and prorated annual fees due the New York Stock Exchange and paid by the Trust as an administrative expense in the amount of $189,926.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering. The risk factors and other factors noted in the Trust's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, May 18, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust"), today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of May 31, 2018 and payable on June 14, 2018 in the aggregate amount of $2,018,817.85 or $0.165942 per Trust Unit, based principally upon production during the month of March 2018.

The following table shows underlying oil and gas sales and average prices attributable to the current month distribution.

Capital expenditures included in the current month distribution totaled $163,578.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC ("Boaz Energy") to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Boaz Energy with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by the cautionary statements made in this press release.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering. The risk factors and other factors noted in the Trust's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, May 4, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT), today declared a cash distribution to the holders of its Units of beneficial interest of $4,269,035 or $0.350906 per Unit, based principally upon production during the months of January and February, 2018. The distribution is payable May 30, 2018, to Unit Holders of record as of May 15, 2018.

The following table shows underlying oil and gas sales and average prices attributable to the current month distribution.

For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

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SOURCE PermRock Royalty Trust

FORT WORTH, Texas, May 1, 2018 /PRNewswire/ -- PermRock Royalty Trust (the "Trust") announced today the pricing of its initial public offering of 6,250,000 trust units, representing an approximate 51.4% beneficial interest in the Trust, at $17.00 per unit. The trust units are expected to begin trading on the New York Stock Exchange under the ticker symbol "PRT" on May 2, 2018. Boaz Energy II, LLC ("Boaz Energy"), the sponsor of the Trust, is selling the units being offered. In addition, Boaz Energy has granted the underwriters a 30-day option to purchase up to an additional 937,500 trust units of the Trust at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on May 4, 2018, subject to customary closing conditions.

Boaz Energy expects to receive approximately $95 million of net proceeds from the offering, or $110 million if the underwriters exercise their option to purchase additional trust units in full. Boaz Energy intends to use the net proceeds of this offering, including any proceeds from the exercise of the underwriters' option to purchase additional trust units, to repay in full the borrowings outstanding under its revolving credit facility, to make required termination payments and pay purchase premiums in connection with restructuring its commodity hedges in connection with this offering, for general company purposes, including to fund its development expenditures, and to make a distribution to Boaz Energy's owners.

Wells Fargo Securities, Goldman Sachs & Co. LLC, UBS Investment Bank, Deutsche Bank Securities, Jefferies, Stifel and Oppenheimer & Co. are acting as joint book-running managers of the offering, with BB&T Capital Markets and Janney Montgomery Scott acting as co-managers.

The offering of the trust units is being made only by means of a prospectus, copies of which may be obtained from the offices of:

Wells Fargo Securities, LLC
Attn: Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Email: cmclientsupport@wellsfargo.com
Phone: (800) 326-5897

Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, New York 10282
Email: prospectus-ny@ny.email.gs.com
Phone: (866) 471-2526

UBS Investment Bank
Attn: Prospectus Department
1285 Avenue of the Americas
New York, New York 10019
Phone: (888) 827-7275

Important Information

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (the "SEC"). The registration statement may be obtained free of charge at the SEC's website at www.sec.gov under "PermRock Royalty Trust." This press release shall not constitute the offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas.

About Boaz Energy II, LLC

Boaz Energy is a privately-held Delaware limited liability company focused on the acquisition, development and operation of oil and natural gas properties located throughout the Permian Basin. Boaz Energy was formed by its management team and NGP Energy Capital Management, a premier private equity firm in the natural resources industry with over $20 billion of cumulative equity commitments.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Trust's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering. The risk factors and other factors noted in the Trust's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.

Contacts

Boaz Energy II, LLC
Marshall Eves, (432) 253-7074
Chief Executive Officer

or

PermRock Royalty Trust
Simmons Bank
Trustee of PermRock Royalty Trust
Lee Ann Anderson, (817) 298-5587
Senior Vice President and Trust Officer

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SOURCE PermRock Royalty Trust

MIDLAND, Texas, April 23, 2018 /PRNewswire/ -- PermRock Royalty Trust (NYSE: PRT) (the "Trust") announced today the launch of its initial public offering of 6,250,000 trust units, representing an approximate 51.4% beneficial interest in the Trust, at an anticipated initial offering price between $19.00 and $21.00 per unit pursuant to a registration statement on Form S-1 (the "Registration Statement") previously filed with the Securities and Exchange Commission (the "SEC"). Boaz Energy II, LLC ("Boaz Energy"), the sponsor of the Trust, will be selling the units being offered. In addition, Boaz Energy intends to grant the underwriters a 30-day option to purchase up to an additional 937,500 trust units of the Trust at the initial public offering price, less underwriting discounts and commissions. The trust units have been authorized for listing on the New York Stock Exchange under the ticker symbol "PRT," subject to official notice of issuance.

Wells Fargo Securities, Goldman Sachs & Co. LLC, UBS Investment Bank, Deutsche Bank Securities, Jefferies, Stifel and Oppenheimer & Co. are acting as joint book-running managers of the offering, with BB&T Capital Markets and Janney Montgomery Scott acting as co-managers.

The offering of the trust units is being made only by means of a prospectus, copies of which may be obtained from the offices of:

Wells Fargo Securities, LLC
Attn: Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Email: cmclientsupport@wellsfargo.com
Phone: (800) 326-5897

Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, New York 10282
Email: prospectus-ny@ny.email.gs.com
Phone: (866) 471-2526

UBS Investment Bank
Attn: Prospectus Department
1285 Avenue of the Americas
New York, New York 10019
Phone: (888) 827-7275

Important Information

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC's website at www.sec.gov under "PermRock Royalty Trust." This press release shall not constitute the offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from properties owned by Boaz Energy in the Permian Basin of West Texas.

About Boaz Energy II, LLC

Boaz Energy is a privately-held Delaware limited liability company focused on the acquisition, development and operation of oil and natural gas properties located throughout the Permian Basin. Boaz Energy was formed by its management team and NGP, a premier private equity firm in the natural resources industry with over $20 billion of cumulative equity commitments.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Trust's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with the Trust's initial public offering. The risk factors and other factors noted in the Trust's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.

Contacts

Boaz Energy II, LLC
Marshall Eves, (432) 253-7074
Chief Executive Officer

or

PermRock Royalty Trust
Simmons Bank
Trustee of PermRock Royalty Trust
Lee Ann Anderson, (817) 298-5587
Senior Vice President and Trust Officer

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SOURCE PermRock Royalty Trust