EXHIBIT 99.1
TEXAS PACIFIC LAND TRUST
 
1700 Pacific Avenue
Suite 2770
Dallas, Texas 75201
______
     
TRUSTEES:
 
ROY THOMAS
MAURICE MEYER III
Telephone (214) 969-5530
General Agent
JOHN R. NORRIS III
   
JAMES K. NORWOOD
 
DAVID M. PETERSON
   
Assistant General Agent
 
TEXAS PACIFIC LAND TRUST
 
     
 
REPORT OF OPERATIONS - UNAUDITED
 


 
Three Months Ended
 
 
December 31, 2009
 
December 31, 2008
 
 
Rentals, royalties and other income
  $ 3,642,204     $ 3,019,609  
 
Land sales
    --       --  
 
Total income
  $ 3,642,204     $ 3,019,609  
 
Provision for income tax
  $ 746,736     $ 519,536  
 
Net income
  $ 1,769,342     $ 1,197,880  
 
Net income per sub-share
  $ .18     $ .12  
 
Average sub-shares outstanding during period
    9,938,380       10,272,592  
 
 
 
Year Ended
 
 
December 31, 2009
 
December 31, 2008
 
Rentals, royalties and other income
  $ 12,615,277     $ 18,701,572  
 
Land sales
    523,010       823,440  
 
Total income
  $ 13,138,287     $ 19,525,012  
 
Provision for income tax
  $ 3,130,720     $ 4,865,193  
 
Net income
  $ 6,914,043     $ 10,939,773  
 
Net income per sub-share
  $ .69     $ 1.06  
 
Average sub-shares outstanding during period
    10,018,028       10,354,408  

This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include statements regarding the Trust's future operations and prospects, the markets for real estate in the areas in which the Trust owns real estate, applicable zoning regulations, the markets for oil and gas, production limits on prorated oil and gas wells authorized by the Railroad Commission of Texas, expected competition, management's intent, beliefs or current expectations with respect to the Trust's future financial performance and other matters.  We assume no responsibility to update any such forward-looking statements.
 
 

The following information was filed by Texas Pacific Land Trust on Thursday, January 28, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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