Permian Basin Royalty Trust declares $0.019615/unit distribution; no Waddell Ranch proceeds; litigation update

PERMIAN BASIN ROYALTY TRUST

Monthly cash distribution of $0.019615 per unit, payable May 14, 2025 to holders of record April 30, 2025.
Waddell Ranch contributed nothing; operator Blackbeard refused monthly data, and excess cost position continues.
Texas Royalty Properties contributed $1,143,639 from 15,292 bbl oil and 8,991 Mcf gas at avg $71.97/bbl and $11.54/Mcf.
Trust litigation seeks >$25M damages from Blackbeard for improper deductions; trial set for November 17, 2025.
G&A expenses net of interest were $229,374; total distribution $914,265 on 46,608,796 units outstanding.

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