DALLAS, Sept. 19 /PRNewswire-FirstCall/ -- U.S. Trust, as Trustee of
Tidelands Royalty Trust 'B' (OTC Bulletin Board: TIRTZ), today declared a
quarterly cash distribution to the holders of its units of beneficial interest
of $.759665 per unit, payable on October 15, 2008, to unit holders of record
on September 30, 2008. Tidelands' distributions to unitholders are determined
by royalties received up to the date the amount is declared. There is a delay
of about three months between the month of production and the time of payment.
All leases that Tidelands receives income from were in an area in the path
of Hurricanes Gustav and Ike. There may have been damage to the platforms on
the leases but as of now we do not have any information as to the extent of
the damages, if any. Production would have been shut-in because of the
hurricanes. The Minerals Management Service reported that 99.7% of the oil and
natural gas production in the Gulf of Mexico has been shut-in. The Minerals
Management Service has advised that production will remain shut-in until
personnel returns to the production platforms and is able to assess and repair
any damaged facilities. Due to the time period between actual production of
oil and natural gas and payment of royalties, Tidelands unitholders will
likely not realize the effect of the two hurricanes until the first quarter of
2009.
Contact: Ron E. Hooper
Senior Vice President
U.S. Trust, Bank of America Private Wealth Management
Toll Free - 800.985.0794
SOURCE U.S. Trust