Santa Fe Energy Trust Announces Fourth Quarter 2007 Distribution

  
    
  
  
    
      Santa Fe Energy Trust (NYSE:SFF) announced the Trust income distribution 
      for the operating quarter ended December 31, 2007. Unitholders of record 
      on February 15, 2008, will receive a distribution amounting to 
      $4,311,544 or $0.68437 per unit payable February 29, 2008.
    
    
      As previously announced by the Trust, the Trustee has been informed by 
      Devon Energy Corporation that Devon has overpaid the Trust during 2006 
      and prior years for its net profits royalties. Devon has estimated the 
      amount of the overpayment to be $10.6 million. This distribution 
      includes a recoupment of past overpayments by Devon of $1,532,702.
    
    
      Trust administrative expenses paid during the quarter were approximately 
      $400,000. In addition, the Trustee has reserved approximately $500,000 
      from the upcoming distribution for Trust related expenses anticipated to 
      be incurred in the first quarter of 2008.
    
    
      This distribution includes approximately $4.9 million attributable to 
      the Wasson ODC unit, but does not include any other amounts payable on 
      the Trust's net profits interests, as Devon has reduced the 
      distribution, as described above.
    
    
      Price and Volume Statistics for the Quarter Were:
    
    
      
        
        
        
           
        
        
           
        
        
           
        
        
          Volumes
        
        
           
        
        
           
        
        
           
        
        
          Prices
        
      
      
        
        
        
        
        
        
        
        
        
          Oil
        
        
           
        
        
           
        
        
           
        
        
          Gas
        
        
        
        
        
        
        
        
          Oil
        
        
           
        
        
           
        
        
           
        
        
          Gas
        
      
      
        
        
        
        
        
        
        
        
        
          (BBLS)
        
        
        
        
        
        
        
        
          (MCF)
        
        
        
        
        
        
        
        
          ($/BBL)
        
        
        
        
        
        
        
        
          ($/MCF)
        
      
      
        
          Wasson ODC Unit
        
        
        
        
        
        
        
        
          60,200
        
        
        
        
        
        
        
        
          —
        
        
        
        
        
        
        
        
          85.45
        
        
        
        
        
        
        
        
          —
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net Profits Royalties
        
        
        
        
        
        
        
        
          26,770
        
        
        
        
        
        
        
        
          239,355
        
        
        
        
        
        
        
        
          61.03
        
        
        
        
        
        
        
        
          5.16
        
      
    
    
      As previously announced, the Trust sold its assets on December 18, 2007, 
      and the Trust will be liquidated on February 15, 2008. The Trustee 
      intends to issue a press release with details regarding the final 
      distribution in the near future.
    
    
      The foregoing information, other than the information regarding Trust 
      administrative costs and the amount held in reserve for anticipated 
      expenses, has been furnished to the Trustee by Devon or calculated by 
      the Trustee based on information furnished by Devon.