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EXHIBIT 99.1

[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]

CROSS TIMBERS ROYALTY TRUST

DECLARES APRIL CASH DISTRIBUTION

Dallas, Texas, April 19, 2016 – Southwest Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE – CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.054363 per unit, payable on May 13, 2016, to unitholders of record on April 29, 2016. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.

 

     Underlying Sales
Volumes
     Average Price  
     
     Oil
(Bbls)
     Gas
(Mcf)
     Oil
(per
Bbl)
     Gas
(per Mcf)
 

Current Month

     19,000         131,000       $ 29.21       $ 2.78   

Prior Month

     20,000         244,000       $ 30.55       $ 4.40   

Excess Costs

XTO Energy has advised the trustee that lower oil prices caused costs to exceed revenues on properties underlying the Oklahoma Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.

XTO Energy has advised the trustee that lower oil prices caused costs to exceed revenues on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances.

Reserves

The current month distribution includes a deduction of $100,000 related to the expense reserve. The monthly deduction will remain at that level until the reserve reaches $1,000,000, which is estimated to be mid-2016. This will allow the trust to pay its obligations should any extraordinary events or expenses occur, especially with commodity prices at the current level. The trustee will continue to evaluate and revise the reserve as necessary.


For more information on the Trust, please visit our web site at www.crt-crosstimbers.com.

*        *        *

 

Contact:   

Nancy G. Willis

Vice President

Southwest Bank, Trustee

Toll Free – 855-588-7839