Dorchester Minerals, L.P. Announces Its Third Quarter Distribution

Tag : minerals

DALLAS, TX -- (Marketwire) -- 10/09/08 -- Dorchester Minerals, L.P.( DMLP ) announced today the Partnership's third quarter 2008 cashdistribution. The distribution of $0.948472 per common unitrepresents activity for the three month period ended September 30,2008 and is payable on November 3, 2008 to common unitholders ofrecord as of October 20, 2008.
Cash receipts attributable to the Partnership's Net ProfitsInterests during the third quarter totaled $8,783,000. Thesereceipts reflect oil and gas sales from the properties underlyingthe Net Profits Interests generally during May 2008 through July2008. Approximately $1,289,000 of gross capital expenditures,primarily attributable to drilling and completion activity, waspaid by the owner of the working interests in the propertiesunderlying the Net Profits Interests during June 2008 throughAugust 2008. Cash receipts attributable to the Partnership'sRoyalty Properties during the third quarter totaled $19,794,000.These receipts generally reflect oil sales during June 2008 throughAugust 2008 and gas sales during May 2008 through July 2008.
The Partnership received approximately $268,000 of other cashreceipts during the third quarter and identified 121 new wellscompleted on the Partnership's Net Profits Interests and RoyaltyProperties located in 47 counties and parishes in 10 states.
Dorchester Minerals, L.P. is a Dallas-based owner of producing andnon-producing oil and natural gas mineral, royalty, overridingroyalty, net profits, and leasehold interests located in 25 states.Its common units trade on the NASDAQ Global Select Market under thesymbol DMLP.
FORWARD-LOOKING STATEMENTS
Portions of this document may constitute "forward-lookingstatements" as defined by federal law. Such statements are subjectto certain risks, uncertainties and assumptions. Should one or moreof these risks or uncertainties materialize, or should underlyingassumptions prove incorrect, actual results may vary materiallyfrom those anticipated, estimated or projected. Examples of suchuncertainties and risk factors include, but are not limited to,changes in the price or demand for oil and natural gas, changes inthe operations on or development of the Partnership's properties,changes in economic and industry conditions and changes inregulatory requirements (including changes in environmentalrequirements) and the Partnership's financial position, businessstrategy and other plans and objectives for future operations.These and other factors are set forth in the Partnership's filingswith the Securities and Exchange Commission.