Exhibit 99.1

 

VOC Energy Trust

 

VOC Energy Trust Announces Trust Quarterly Distribution

 

VOC ENERGY TRUST

The Bank of New York Mellon Trust Company, N.A., Trustee

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Austin, Texas, April 20, 2017 — VOC Energy Trust (NYSE Symbol — VOC) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2017.

 

Unitholders of record on May 1, 2017 will receive a distribution amounting to $3,570,000 or $0.21 per unit, payable May 12, 2017.

 

Volumes, average sales prices and net profits for the payment period were:

 

Sales volumes:

 

 

 

Oil (Bbl)

 

138,781

 

Natural gas (Mcf)

 

87,968

 

Total (BOE)

 

153,442

 

Average sales prices:

 

 

 

Oil (per Bbl)

 

$

48.75

 

Natural gas (per Mcf)

 

$

2.89

 

Gross proceeds:

 

 

 

Oil sales

 

$

6,765,748

 

Natural gas sales

 

254,299

 

Lawsuit settlement

 

1,209,412

 

Total gross proceeds

 

$

8,229,459

 

Costs:

 

 

 

Lease operating expenses

 

$

2,928,656

 

Production and property taxes

 

172,166

 

Development expenses

 

366,035

 

Total costs

 

$

3,466,857

 

Net proceeds

 

$

4,762,602

 

Percentage applicable to Trust’s Net Profits Interest

 

 80

%

Net profits interest

 

$

3,810,082

 

Increase in cash reserve held by VOC Brazos Energy Partners, L.P.

 

(0

)

Total cash proceeds available for the Trust

 

$

3,810,082

 

Provision for estimated Trust expenses

 

(240,082

)

Net cash proceeds available for distribution

 

$

3,570,000

 

 

Please note that the Trust distribution of net profits for the first quarterly payment period ended March 31, 2017 includes proceeds of $1,209,412 , which VOC Brazos Partners, L.P. (“VOC Brazos”) received in connection with the settlement of a lawsuit arising from an unaffiliated operator having drilled and completed a well across land partly owned by VOC Brazos without observing VOC Brazos’ legal ownership in such well. In connection with the settlement, VOC Brazos received a working interest in the well and the settlement proceeds. The following table includes the well’s volumes, average sales prices and net profits for the period from January 2015 through the quarter ended March 31, 2017. The extended period of time reflected in the table below is due to the time it took for

 


The following information was filed by Voc Energy Trust (VOC) on Thursday, April 20, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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