Marine Petroleum Trust Announces Third Quarter Cash Distribution

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Aug 19, 2016, 08:00 ET

DALLAS, Aug. 19, 2016 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.043507 per unit, payable on September 28, 2016, to unitholders of record on August 31, 2016. Marine's cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.marps-marine.com/.

This distribution of $0.043507 per unit is lower than the $0.073281 per unit distributed last quarter. As compared to the previous quarter, the prices for both oil and natural gas and the volumes of both natural gas and oil produced and included in the current distribution have decreased. This distribution is lower than the $0.111958 per unit distributed in the comparable quarter in 2015. As compared to the comparable quarter in 2015, the prices realized for both oil and natural gas and the volume of natural gas produced and included in the current distribution decreased, while the volume of oil produced and included in the current distribution has increased.

Marine's distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.