Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)

DALLAS--(BUSINESS WIRE)--

Texas Pacific Land Trust (NYSE:TPL):


TEXAS PACIFIC LAND TRUST

REPORT OF OPERATIONS - UNAUDITED

                                              Three Months Ended

                                              June 30, 2009  June 30, 2008

Rentals, royalties and other income           $ 3,736,877    $ 5,243,698

Land sales                                      523,010        192,000

Total income                                  $ 4,259,887    $ 5,435,698

Provision for income tax                      $ 1,079,902    $ 1,530,888

Net income                                    $ 2,428,849    $ 3,217,622

Net income per sub-share                      $ .24          $ .31

Average sub-shares outstanding during period    10,092,773     10,432,250

                                              Six Months Ended

                                              June 30, 2009  June 30, 2008

Rentals, royalties and other income           $ 5,602,954    $ 9,832,185

Land sales                                      523,010        639,040

Total income                                  $ 6,125,964    $ 10,471,225

Provision for income tax                      $ 1,531,280    $ 2,779,091

Net income                                    $ 3,191,001    $ 6,148,379

Net income per sub-share                      $ .32          $ .59

Average sub-shares outstanding during period    10,120,410     10,447,546



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.


    Source: Texas Pacific Land Trust