bass strait oil-17.65% div/ret. of cap yield, page-3

More information follows...copies of info provided by the trust to the ASX. It's trading +5c today at $2.45 (which is just above my average entry price). Now the div./redemption of capital yield is 17.29%.

“31 May 2005
The Manager – Companies
Australian Stock Exchange Limited
Level 6, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir
ROYALTY INCOME AND UNITHOLDER DISTRIBUTION
Pursuant to Listing Rule 3.1 we announce that the royalty received for the quarter ended 31 March 2005 was $8,611,904, making a total for the half year of $18,643,324. This is $388,096 (4.3%) lower than the estimate contained in the Prospectus on an annualised basis, 14.2% lower than the previous quarter and 16.6% lower than the previous half year as detailed below.
QUARTER ENDED HALF YEAR ENDED % CHANGE
Mar Q 2005 Mar 05 half
Mar Dec Mar Sept vs vs
2005 2004 2005 2004 Dec Q 2004 Sept 04 half
Royalty income (A$) 8,611,904 10,031,420 18,643,324 22,344,081 -14.2% -16.6%
Oil production (M.bbls) 7.7 8.7 16.4 19.4 -11.5% -15.5%
Avg oil price (A$/bbl) 62.07 60.96 61.49 56.67 1.8% 8.5%
Gas (PJ) 46.0 60.6 106.6 156.0 -24.1% -31.7%
LPG (Mt) 0.23 0.27 0.50 0.60 -14.8% -16.7%
Ethane (Mt) 0.050 0.056 0.106 0.111 -10.7% -4.5%

The principal reason for this lower quarter royalty were the lower levels of production for the 3 months ended 31 March 2005. Oil production was lower due to natural field decline. Natural gas production was lower due to decreased demand.
The total distribution per redeeming ordinary unit for the royalty period 1 October 2004 to 31 March 2005 will be 42.3712 cents, comprising 25 cents capital redemption payment and 17.3712 cents income. This distribution will be paid on 15 July 2005.
Yours faithfully
A.F. Macartney
Company Secretary”

“31 May 2005
The Manager – Companies
Australian Stock Exchange Limited
Level 6, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir
RECORD DATE FOR UNITHOLDER DISTRIBUTION
I refer to our announcement on 31 May 2005 in relation to the distribution payable on 15 July and hereby advise that the record date is 30 June 2005
Yours faithfully
A.F. Macartney
Company Secretary “

Count four trading days back from the record/books closing date of 30 June 2005 to determine the ex-dividend date, which is Friday 24 June 2005.

Cheers Ajax