Exhibit 99.1

PermRock Royalty Trust

News Release

PermRock Royalty Trust

Declares Monthly Cash Distribution

FORT WORTH, Texas, September 18, 2020 – PermRock Royalty Trust (NYSE:PRT) (the “Trust”) today declared a $0.010000 cash distribution to record holders of its trust units representing beneficial interests in the Trust (“Trust Units”) as of September 30, 2020. The distribution will be paid on October 15, 2020. The net profits calculation was based principally upon production during the month of July 2020 and includes $121,657 in net profits income to be distributed to the Trust, $75,626 of which amount will be used to cover Trust administrative expenses.

The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:

Oil cash receipts for the properties underlying the Trust totaled $1.43 million for the current month, an increase of $0.04 million from the prior month distribution period due to increased oil prices in July 2020 that offset the slight decrease in production. Boaz Energy reported that normal production operations resumed in early June 2020 following the shut in of a material amount of production from the properties underlying the Trust during portions of May 2020 due to oil price uncertainties.

Natural gas cash receipts for the properties underlying the Trust totaled $0.08 million for the current month, an increase of $0.02 million from the prior month’s distribution period due to an increase in sales volumes and natural gas prices.

Total direct operating expenses, including marketing, lease operating expenses and workover expenses, were $0.69 million reflecting a $0.05 million increase from the prior month. Severance and ad valorem taxes were $0.18 million.

Capital expenditures were $0.13 million in the current month reflecting a $0.08 million increase from the prior month.  Boaz Energy reported these expenditures primarily related to drilling and completion operations on non-operated properties in Crane County.  Boaz Energy informed the Trust that this month’s net profits calculation included $117,802 net to the Trust of funds reserved by Boaz Energy to cover future capital obligations and expenses.

About PermRock Royalty Trust

PermRock Royalty Trust is a Delaware statutory trust formed by Boaz Energy II, LLC (“Boaz Energy”) to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned by Boaz Energy in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at www.permrock.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements.” These forward-looking statements represent the Trust’s and Boaz Energy’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and Boaz Energy’s operations with regard to producing leases, anticipated drilling and completion activities and the resulting impact on the computation of the Trust’s net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, resulting in an oversupply of crude oil and exacerbating the decline in crude oil prices, and could remain low for an extended period of time. Further, continued low oil and natural gas prices may continue to result in no distributions to unitholders for an unknown period of time. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2020 and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust’s filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.