Gulf Coast Ultra Deep Royalty Trust (GULTU)

[tuscadeep]

8K, Ex-99.1.2

"Gulf Coast Ultra Deep Royalty Trust
The Bank of New York Mellon Trust Company, N.A., Trustee News Release
Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution

AUSTIN, Texas - October 16, 2017 - Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) (the Trust) announced today that it will distribute to unitholders a cash distribution totaling $149,155 for the quarter ended September 30, 2017.
Unitholders of record on October 30, 2017 will receive a cash distribution of $0.000648 per unit payable on November 13, 2017.
Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended September 30, 2017 are set forth in the table below:
Natural gas (Mcf) sales volumes (a) 135,794

Natural gas (per Mcf) average sales price $2.93

Gross proceeds $ 397,699

Post-production costs and specified taxes $(42,639)
Royalty income $355,060

Interest and dividend income $ 648
Administrative expenses $(167,120)
Royalty income in excess of administrative expenses $188,588
Increase to minimum cash reserve $(39,433)
Net cash proceeds available for distribution $ 149,155

(a) Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production."

Note: This is the first quarterly cash distribution since GULTU's inception.