Freeport-McMoRan Oil and Gas Royalty Trust Makes
Announcement
HOUSTON--(BUSINESS WIRE)--July 21, 1998--Freeport-McMoRan Oil and Gas Royalty
Trust (New York Stock Exchange Symbol:FMR) announced that for the month of June 1998, the
Trust's Class A costs exceeded Gross Proceeds by $930,718, increasing the cumulative Class A
cost carry-forward to $22,582,964. Accordingly, there will be no distribution for July 1998. In
addition, net current month Trust Administrative expenses of $68,991 will be paid from the Trust
administrative expense reserve resulting in approximately $1.5 million remaining in the expense
reserve.
For the month Gross Proceeds included oil and condensate revenues of $0.9 million and gas
revenues of $0.5 million from sales volumes of 65,309 barrels and, 203,856 mcf, respectively, net to
the Trust's interest. Class A costs included $1.7 million in exploration and development costs and
$0.4 million in operating costs, net to the Trust's interest, both primarily for West Cameron Block
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