Exhibit 99.1
1700 Pacific Avenue
Suite 1670
Dallas, Texas 75201
___________
Telephone (214) 969-5530
TRUSTEES: | ROY THOMAS | ||||
Maurice Meyer III | General Agent |
Joe R. Clark | DAVID M. PETERSON | ||||
John R. Norris III | Assistant General Agent |
NEWS RELEASE
FOR IMMEDIATE RELEASE
DALLAS, TEXAS, December 15, 2003 Texas Pacific Land Trust announced the settlement of claims on three oil and gas leases. Pursuant to the settlement the Trust will receive a payment in the amount of $650,000. The claims involved inclusion of Trust royalty acreage in the leases which had not previously been included. The cash received in the settlement will be reflected in the Trusts results of operations for the fourth quarter of 2003 and is expected to result in revenues of approximately $0.29 per sub-share before taxes.