San Juan Basin Royalty Trust Seeks Vote on Our Nomination of Successor Trustee

In a preliminary proxy statement filed with the Securities and Exchange Commission, the current trustee of SJT discloses that it determined to “defer to the nomination of the Unit Holders.”  Thus the trustee apparently intends to solicit the proxies of all Unit Holders to ratify TexasBank as successor trustee.  We are gratified with the disclosure and hope that the preliminary indications become final.  McDep Associates is credited in part with the nomination of TexasBank.  Our royalty trust research is covered in more detail weekly in our companion analysis, Natural Gas Royalty Trusts.