EX-99.1
3
a07-31733_1ex99d1.htm
EX-99.1
Exhibit
99.1
SANTA FE ENERGY TRUST
SANTA FE ENERGY TRUST ANNOUNCES
SALE OF TRUST ASSETS
THE BANK OF NEW YORK TRUST COMPANY, N.A., Trustee
NEWS RELEASE
FOR
IMMEDIATE RELEASE
AUSTIN,
TEXAS, DECEMBER 18, 2007 - The Bank of New York Trust Company, N.A. (the "Trustee")
of Santa Fe Energy Trust (NYSE Symbol-SFF) announced today that it has completed
the sale of all of the net profits royalties held by the Trust to Amen
Properties, Inc. and certain other purchasers. The aggregate price for the assets sold was
approximately $51.5 million, after making adjustments pursuant to the purchase
agreement.
Stifel, Nicolaus &
Company, Incorporated served as financial advisor to the Trustee in connection
with the transaction, and delivered an opinion to the Trustee that, as of the
date of the opinion and subject to the assumptions and qualifications contained
in the opinion, the consideration to be paid to the Trustee in its capacity as trustee
of the Trust in connection with the transaction pursuant to the purchase agreement
was fair to the Trust as the seller of the assets, from a financial point of
view.
The
Trustee intends to distribute the net proceeds of the sale (after deducting amounts
necessary to pay all fees, expenses, liabilities and other obligations of the
Trust, and after setting aside any amounts the Trustee determines to hold in
reserve, and subject to any post-closing adjustments under the purchase
agreement) on February 29, 2008 to unitholders of record at the close of
business on February 14, 2008. This
distribution will be made concurrently with the Trust's distribution for the
quarter ending December 31, 2007.
The
United States Treasury book-entry securities representing stripped-interest
coupons held by the Trustee as Custodian mature on February 15, 2008. Unitholders of record at the close of
business on February 14, 2008 will be entitled to receive the cash
proceeds from the matured Treasury Obligations on deposit with the
Custodian. The cash proceeds will be
distributed as promptly as practicable on or after February 15, 2008.
The
Trust will be liquidated on February 15, 2008. After that date the Trustee will continue to
act as trustee of the trust estate until the trust estate has been finally
distributed and the affairs of the Trust have been wound up.
The
Trustee intends to instruct the Trust's transfer agent to stop transfer of the
Trust's units immediately following the close of business on February 14,
2008 and intends to request that the New York Stock Exchange delist the units
at that time.
Contact:
Santa
Fe Energy Trust
The
Bank of New York Trust Company, N.A., Trustee
Mike
Ulrich
919
Congress Avenue
Austin,
TX 78701
(800)
852-1422

EX - 99 . 1 3 a07 - 31733 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 SANTA FE ENERGY TRUST SANTA FE ENERGY TRUST ANNOUNCES SALE OF TRUST ASSETS THE BANK OF NEW YORK TRUST COMPANY , N . A . , Trustee NEWS RELEASE FOR IMMEDIATE RELEASE AUSTIN , TEXAS , DECEMBER 18 , 2007 - The Bank of New York Trust Company , N . A . ( the " Trustee " ) of Santa Fe Energy Trust ( NYSE Symbol - SFF ) announced today that it has completed the sale of all of the net profits royalties held by the Trust to Amen Properties , Inc . and certain other purchasers . The aggregate price for the assets sold was approximately $ 51.5 million , after making adjustments pursuant to the purchase agreement . Stifel , Nicolaus & Company , Incorporated served as financial advisor to the Trustee in connection with the transaction , and delivered an opinion to the Trustee that , as of the date of the opinion and subject to the assumptions and qualifications contained in the opinion , the consideration to be paid to the Trustee in its capacity as trustee of the Trust in connection with the transaction pursuant to the purchase agreement was fair to the Trust as the seller of the assets , from a financial point of view . The Trustee intends to distribute the net proceeds of the sale ( after deducting amounts necessary to pay all fees , expenses , liabilities and other obligations of the Trust , and after setting aside any amounts the Trustee determines to hold in reserve , and subject to any post - closing adjustments under the purchase agreement ) on February 29 , 2008 to unitholders of record at the close of business on February 14 , 2008 . This distribution will be made concurrently with the Trust 's distribution for the quarter ending December 31 , 2007 . The United States Treasury book - entry securities representing stripped - interest coupons held by the Trustee as Custodian mature on February 15 , 2008 . Unitholders of record at the close of business on February 14 , 2008 will be entitled to receive the cash proceeds from the matured Treasury Obligations on deposit with the Custodian . The cash proceeds will be distributed as promptly as practicable on or after February 15 , 2008 . The Trust will be liquidated on February 15 , 2008 . After that date the Trustee will continue to act as trustee of the trust estate until the trust estate has been finally distributed and the affairs of the Trust have been wound up . The Trustee intends to instruct the Trust 's transfer agent to stop transfer of the Trust 's units immediately following the close of business on February 14 , 2008 and intends to request that the New York Stock Exchange delist the units at that time . Contact : Santa Fe Energy Trust The Bank of New York Trust Company , N . A . , Trustee Mike Ulrich 919 Congress Avenue Austin , TX 78701 ( 800 ) 852 - 1422
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