Tidelands Royalty Trust "B" Share Price

Tidelands Royalty Trust B (the Trust) is a royalty trust. The Trust is not permitted to engage in any business activity because it was organized for the sole purpose of providing an efficient orderly and practical means for the administration and liquidation of rights to interests in certain oil natural gas or other mineral leases obtained by Gulf Oil Corporation (Gulf) in a designated area of the Gulf of Mexico. The Trust's subsidiary, Tidelands Royalty "B" Corporation (Tidelands Corporation, collectively with the Trust, Tidelands), holds title to interests in properties that are situated offshore of Louisiana. Approximately 95% of all oil, natural gas and other mineral royalties collected by Tidelands Corporation are retained by and delivered to the Trust. Tidelands Corporation retains the remaining 5% of the overriding royalties along with other items of income and expense until such time as the board of directors declares a dividend out of retained earnings.