97517--3/15/2007--TEXAS_PACIFIC_LAND

related topics

{gas, price, oil}

{interest, director, officer}

{loan, real, estate}

{stock, price, operating}

Our revenues from the sale of land are subject to substantial fluctuation. We are a passive seller of land and land sales are subject to many factors that are beyond our control. The Trust s remaining holdings of land in metropolitan areas are limited. The Trust is not an oil and gas producer. Its revenues from oil and gas royalties are subject to the actions of others. The Trust s oil and gas royalty revenue is dependent upon the market prices of oil and gas which fluctuate. If the liability of holders of Certificates of Proprietary Interest and Sub-shares were to be found to be governed by the laws of Texas, holders of Certificates of Proprietary Interest and Sub-shares might be held to have personal liability for claims against the Trust, to the extent such claims exceeded the assets of the Trust. The Trustees are not subject to annual election and, as a result, the ability of the holders of Certificates of Proprietary Interest and Sub-shares to influence the policies of the Trust may be limited. Our results of operations for any quarter are not necessarily indicative of our results of operations for a full year.

Full 10-K form ▸

97517--3/15/2007--TEXAS_PACIFIC_LAND_TRUST