Santa Fe Energy Trust Announces Second Quarter 2007 Distribution

  
    
  
  
    
      Santa Fe Energy Trust (NYSE:SFF) announced the Trust income distribution 
      for the operating quarter ended June 30, 2007. Unitholders of record on 
      August 15, 2007, will receive a distribution amounting to $3,004,234 or 
      $0.47686 per unit payable August 31, 2007.
    
    
      As previously announced by the Trust, the Trustee has been informed by 
      Devon Energy Corporation that Devon believes it may have overpaid the 
      Trust during 2006 and prior years for its net profits royalties. Devon 
      has previously estimated the amount of the overpayment to be $6.7 
      million. However, Devon has informed the Trustee that it now believes 
      the amount of the overpayment is more than $6.7 million, but that it is 
      unable to provide an estimate of how much more than $6.7 million.
    
    
      This distribution includes approximately $3.0 million attributable to 
      the Wasson ODC unit and $39,293 resulting from the sale of a net profits 
      interest during the quarter, but does not include any other amounts 
      payable on the Trust's net profits interests, as Devon has concluded 
      that Devon is entitled to reduce the distribution by the approximately 
      $2.0 million otherwise payable on the net profits interests in order to 
      recoup a portion of the amount Devon believes it has overpaid the Trust. 
      The Trustee and its independent consultants have not been able to 
      confirm the accuracy of the information or estimates provided by Devon, 
      or the appropriateness of Devon's determination that it is entitled to 
      recoup the amount it is withholding from the distribution.
    
    
      
        
          
            Price and Volume Statistics for the Quarter Were:
          
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
          Volumes
        
        
        
        
          Prices
        
        
        
      
      
        
        
        
        
        
          Oil
        
        
        
        
          Gas
        
        
        
        
          Oil
        
        
        
        
          Gas
        
        
        
      
      
        
        
        
        
        
          (BBLS)
        
        
        
        
          (MCF)
        
        
        
        
          ($/BBL)
        
        
        
        
          ($/MCF)
        
        
        
      
      
        
          Wasson ODC Unit
        
        
        
        
          60,200
        
        
        
        
          —
        
        
        
        
          58.52
        
        
        
        
          —
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Net Profits Royalties
        
        
        
        
          29,164
        
        
        
        
          146,301
        
        
        
        
          49.53
        
        
        
        
          6.45
        
        
        
      
    
    
      The Trust will be liquidated on or before February 15, 2008.