BSO said the principal reason for the result was the higher average oil price for the quarter. The oil price for the June 2002 quarter averaged $46.53 a barrel, an increase of $4.89 or 11.7% over the level of $41.64 bbl for the March 2002 quarter.

BSO added that oil production for the June 2002 quarter was 13.5 million barrels of oil, which was in line with production in the previous quarter. The next ordinary trust distribution for the royalty period 1 April 2002 to 30 September 2002 will be on 15 January 2003.