LEXINGTON, Ky., July 23, 2012 /PRNewswire/ -- Rhino Resource Partners LP (NYSE: RNO) ("Rhino" or the "Partnership") today announced a cash distribution of $0.445 per common unit, or $1.78 per unit on an annualized basis. This distribution will be paid on August 14, 2012 to all common unitholders of record as of the close of business on August 2, 2012. No distribution will be paid on the subordinated units. Dave Zatezalo, President and Chief Executive Officer of Rhino's general partner, stated, "The coal market is cyclically depressed, and while our steam coal is well contracted through 2014, our metallurgical coal is contracted annually. Our 2013 met coal contracts should be settled late in the third quarter of this year, and while we expect prices to be lower than 2012, we are uncertain how much lower the prices may be versus 2012 levels. Given this uncertainty, the board of directors of our general partner has determined that the Partnership should use cash to reduce debt rather than continue to pay the subordinated distribution. We believe this will put the Partnership in a stronger position at a time of severe market weakness. We view this as a strong show of support from our sponsor, Wexford Capital LP, whose funds hold our subordinated units. Management and the board of directors will continue to evaluate the outlook for the Partnership and the appropriate level of distributions, while taking the necessary steps to support the long term health and success of the Partnership. Despite the depressed coal markets, the results of our diversification efforts in the Utica are encouraging and we believe will provide substantial long term value to the Partnership going forward." Rhino today also announced that it plans to release its 2012 second quarter financial results on Thursday, August 2, 2012, before the market opens. In connection with the earnings release, Rhino will host a conference call and webcast for investors and analysts to discuss its results for the quarter on Thursday, August 2, 2012, at 10:00 am (ET). Participants should call 866-356-4281 ( United States/ Canada) or 617-597-5395 (International) and utilize the confirmation code 42145211. A telephonic replay will be available for anyone unable to participate in the live call. To access the replay, call 888-286-8010 ( United States/ Canada) or 617-801-6888 (International) and enter confirmation code 96456997. The recording will be available from 12:00 pm (ET) on Thursday, August 2, 2012 through Thursday, August 9, 2012 at 11:59 p.m. (ET). A live broadcast of the earnings conference call will also be available via the Internet at www.rhinolp.com under 'Investor Relations'. The webcast will be archived on the site for one year. This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of Rhino's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Rhino's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. About Rhino Resource Partners LP Rhino Resource Partners LP is a growth-oriented limited partnership. Rhino produces metallurgical and steam coal in a variety of basins throughout the United States, it leases coal through its Elk Horn subsidiary, and it owns oil and gas acreage in the Utica and Cana Woodford plays. About Wexford Capital LP Rhino's general partner, Rhino GP LLC, is an affiliate of Wexford Capital LP ("Wexford"). Wexford is an SEC registered investment advisor with over $5.1 billion of assets under management. Wexford has particular expertise in the energy/natural resources sector with actively managed investments in coal, oil and gas exploration and production, energy services and related sectors. Through Wexford's extensive portfolio of energy, resource and related investments, it sees an extensive flow of potential new investment opportunities, many of which could be suitable for Rhino. Although Wexford has no obligation to provide such investment opportunities to Rhino, it has made available several of these investments to Rhino and expects to be in a position to continue to selectively source and underwrite for Rhino new coal, energy and related investment opportunities. Additional information regarding Rhino and Wexford is available on their respective web sites – RhinoLP.com and Wexford.com.