BSO said the principal reason for the result was the higher average Australian dollar oil price for the September quarter and increased levels of production.

The Trust told the market that total distribution per redeeming ordinary unit for the royalty period 1 April 2002 to 30 September 2002 will be 51.9562 cents, comprising 25 cents capital redemption payment and 26.9562 cents income.

The distribution will be paid on 15 January 2003 to unitholders who are registered at the close of business on 31 December 2002, BSO said.