Eastern American Natural Gas Trust (the "Trust") NGT announced today
that it has entered into a definitive agreement to sell its Royalty NPI
interest to Softvest, LP for $6.5 million, subject to reduction for certain
potential matters in accordance with the terms of the agreement.
As previously disclosed, The Bank of New York Mellon Trust Company, N.A., as
Trustee of the Trust (the "Trustee") is required by the terms of the Trust
Agreement to cause the sale of the Royalty NPI. The Trustee engaged EnergyNet
to market the Royalty NPI and conduct an auction, and Softvest was the winning
bidder.
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