EXHIBIT 99.1
TEXAS PACIFIC LAND
TRUST
1700 Pacific Avenue
Suite 1670
Dallas, Texas 75201
__________
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TRUSTEES: Maurice Meyer III John R. Norris III James K. Norwood |
Telephone (214) 969-5530 |
ROY THOMAS General Agent DAVID M. PETERSON Assistant General Agent |
TEXAS PACIFIC LAND
TRUST
REPORT OF OPERATIONS - UNAUDITED
| Three Months Ended |
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|---|---|---|---|---|---|---|---|---|
| December 31, 2006 |
December 31, 2005 |
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| Rentals, royalties and other income | $ | 3,130,823 | $ | 3,526,716 | ||||
| Land sales | 6,577,874 | 713,368 | ||||||
| Total income | $ | 9,708,697 | $ | 4,240,084 | ||||
| Provision for income tax | $ | 1,774,434 | $ | 876,035 | ||||
| Net income | $ | 3,800,222 | $ | 2,181,008 | ||||
| Net income per sub-share | $ | 1.79 | $ | 1.01 | ||||
| Average sub-shares outstanding during period | 2,127,808 | 2,162,642 | ||||||
| Year Ended |
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|---|---|---|---|---|---|---|---|---|
| December 31, 2006 |
December 31, 2005 |
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| Rentals, royalties and other income | $ | 14,821,035 | $ | 11,707,525 | ||||
| Land sales | 8,201,447 | 3,700,116 | ||||||
| Total income | $ | 23,022,482 | $ | 15,407,641 | ||||
| Provision for income tax | $ | 5,309,153 | $ | 3,660,141 | ||||
| Net income | $ | 11,569,862 | 8,512,587 | |||||
| Net income per sub-share | $ | 5.41 | $ | 3.92 | ||||
| Average sub-shares outstanding during period | 2,139,129 | 2,172,931 | ||||||