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8-K - CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES - VOC Energy Trusta11-28167_18k.htm

Exhibit 99.1

 

VOC Energy Trust

 

VOC Energy Trust Announces Trust Second Quarterly Distribution

 

VOC ENERGY TRUST

 

 

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

 

 

 

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Austin, Texas, October 18, 2011 — VOC Energy Trust (NYSE Symbol — VOC) announced a Trust distribution, which relates to net profits generated during the payment period ended September 30, 2011.

 

Unitholders of record on October 31, 2011 will receive a distribution amounting to $9,520,000 or $0.56 per unit payable November 15, 2011.

 

Volumes, price and net profits for the payment period were:

 

Volume (BOE)

 

214,250

 

Proceeds (per BOE)

 

$

80.97

 

Gross Proceeds

 

$

17,347,945

 

Costs

 

$

5,196,523

 

Net Profits

 

$

12,151,422

 

Percentage applicable to Trust’s 80%

 

 

 

Net Profits Interest

 

$

9,721,138

 

 

 

 

 

Cash reserve held by VOC Brazos Energy Partners, L.P.

 

$

 

Total cash proceeds available for the Trust

 

$

9,721,138

 

Provision for estimated Trust expenses

 

$

(201,138

)

Net cash proceeds available for distribution

 

$

9,520,000

 

 

VOC Energy Trust is a Delaware statutory trust formed by VOC Brazos Energy Partners, L.P. to own a term net profits interest representing the right to receive 80% of the net proceeds from the sale of production from substantially all of the interests in oil and natural gas properties in the states of Kansas and Texas held by VOC Brazos Energy Partners, L.P. as of the date of the conveyance of net profits interest to the Trust.

 

This news release contains forward-looking statements. Although VOC Brazos Energy Partners, L.P. has advised the Trust that VOC Brazos Energy Partners, L.P. believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, and other risk factors described in the Trust’s Form 10-Q for the quarter ended June 30, 2011 filed with the Securities and Exchange Commission on August 15, 2011. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.

 

Contact:

VOC Energy Trust

 

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

 

Mike Ulrich

 

1-800-852-1422

 

919 Congress Avenue, Austin, TX 78701