Mesa Royalty Trust declares Nov 2025 distribution of $0.02962/unit; warns of future reductions

MESA ROYALTY TRUST/TX

Distribution of $0.029620472 per unit, record Nov 28, 2025, payable Jan 30, 2026.
Trust received $57,503 in royalty income, all from Hilcorp-operated San Juan Basin properties in New Mexico.
Distributable net profits after expenses were $55,200; no income from other working interest owners.
Distributions expected to be materially reduced until cash reserves reach $2.0 million.
Accumulated excess production costs may further decrease or eliminate future Trust distributions.

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