VOC Energy Trust (NYSE: VOC) announced a Trust distribution, which relates to net profits generated during the payment period ended June 30, 2011. This first payment pursuant to the net profits interest held by the Trust covers the net profits attributable to such net profits interest for the first five months of 2011 as provided in the conveyance of net profits interest to the Trust.
Unitholders of record on August 1, 2011 will receive a distribution amounting to $14,620,000 or $0.86 per unit payable August 15, 2011.
Volumes, price and net profits for the payment period were:
|Proceeds (per BOE)||$||86.15|
|Percentage applicable to Trust’s 80%|
|Net Profits Interest||$||16,131,500|
Cash reserve held by VOC Brazos Energy Partners, L.P.
|Total cash proceeds available for the Trust||$||15,131,500|
|Provision for estimated Trust expenses||$||(511,500||)|
|Net cash proceeds available for distribution||$||14,620,000|
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.