Financial Performance - Distributable income for Q1 2024 was $3,230,000, a decrease of 17.4% from $3,910,000 in Q1 2023[7] - Income from net profits interest for Q1 2024 was $3,604,114, down 16.7% from $4,328,752 in Q1 2023[26] - Cash distributions per Trust unit decreased to $0.19 in Q1 2024 from $0.23 in Q1 2023, reflecting a decline of 17.4%[32] - For the three months ended March 31, 2024, total gross proceeds from oil and natural gas sales were $9,694,535, a decrease of $1,501,043 or 13.4% from $11,195,578 for the same period in 2023[38] - Oil sales volumes decreased by 11,195 Bbls or 8.8% to 116,405 Bbls in Q1 2024 from 127,600 Bbls in Q1 2023, while natural gas sales volumes decreased by 15,580 Mcf or 18.7% to 67,921 Mcf[38] - The average price for oil decreased by 1.6% to $81.39 per Bbl, and the average price for natural gas decreased by 57.6% to $3.24 per Mcf in Q1 2024 compared to Q1 2023[38] - Total costs for the three months ended March 31, 2024, were $5,189,393, a decrease of $595,245 or 10.3% from $5,784,638 in Q1 2023[39] - The excess of revenues over direct operating expenses was $4,505,142 for Q1 2024, a decrease of $905,798 or 16.7% from $5,410,940 in Q1 2023[40] - Income from net profits interest for Q1 2024 was $3,604,114, down from $4,328,752 in Q1 2023, reflecting a decrease of $724,638 or 16.7%[40] - Distributable income for the three months ended March 31, 2024, was $3,230,000, a decrease of $680,000 from $3,910,000 in Q1 2023[40] Assets and Cash Management - Total assets as of March 31, 2024, were $12,928,840, a decrease from $13,372,565 as of December 31, 2023[9] - Trust corpus at the end of Q1 2024 was $12,928,840, down from $14,619,274 at the end of Q1 2023[11] - Cash and cash equivalents increased slightly to $1,446,956 as of March 31, 2024, compared to $1,429,301 as of December 31, 2023[9] - As of March 31, 2024, the Trust held $1,446,956 in cash and cash equivalents, which includes a cash reserve of $1.175 million[41] - The Trust has a letter of credit from VOC Brazos amounting to $1,700,000 to protect against insufficient cash for future expenses[42] - The Trustee has established a cash reserve of $1,000,000 to mitigate the impact of uneven capital expenditure timing, which was maintained as of March 31, 2024[45] - VOC Brazos did not withhold or release any amounts from the reserve during Q1 2024, maintaining a reserve balance of $1.0 million[27] Governance and Operational Structure - VOC Energy Trust has no principal executive officer or board of directors, indicating a unique governance structure[61] - The Trustee, The Bank of New York Mellon Trust Company, serves without implying any executive functions[61] - The report was signed by Elaina C. Rodgers, Vice President, on May 8, 2024[61] - No additional signatures are available, reflecting the trust's operational framework[61] - The Trust Agreement under which the Trustee serves does not establish traditional corporate governance roles[61] - The document does not provide financial performance metrics or user data[61] - There are no future outlooks or performance guidance mentioned in the report[61] - No information on new products, technologies, market expansion, or mergers and acquisitions is included[61] - The report focuses solely on the structural aspects of the Trust rather than financial results[61] - The absence of a principal financial officer suggests a different approach to financial oversight[61]

Distribution Announcement - VOC Energy Trust announced its quarterly distribution for the payment period ended March 31, 2024[1]. - The press release regarding the quarterly distribution is furnished as Exhibit 99.1[14]. Company Information - The Trust is registered under the Securities Exchange Act of 1934 and trades on the New York Stock Exchange under the symbol VOC[2].

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35160 VOC ENERGY TRUST (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended September 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during ...

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q for the quarterly period ended June 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number: 001-35160 VOC ENERGY TRUST (Exact name of registrant as specified in its charter) Delaware 80-6183103 (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended March 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number: 001-35160 VOC ENERGY TRUST (Exact name of registrant as specified in its charter) Delaware 80-6183103 (State or other jurisdiction of incorpor ...

Financial Performance - Distributable income for the year 2022 was $21,675,000, significantly up from $8,670,000 in 2021, representing a growth of approximately 149%[298] - Income from net profits interest for 2022 reached $23,594,050, compared to $9,302,296 in 2021, indicating an increase of about 153%[298] - Cash distributions per Trust unit increased to $1.275 in 2022 from $0.510 in 2021, reflecting a rise of approximately 150%[298] - For the year ended December 31, 2022, income from net profits interest was $23,594,050, reflecting a significant increase from $9,302,296 in 2021 and $5,006,227 in 2020[322] Assets and Reserves - As of December 31, 2022, total assets of VOC Energy Trust amounted to $15,048,316, a decrease from $16,005,190 in 2021[296] - The Trust's corpus at the end of 2022 was $15,048,316, down from $16,005,190 at the end of 2021[300] - As of December 31, 2022, the Trust's proved reserves were 2,824,491 barrels of oil and 1,985,722 Mcf of gas, totaling 3,155,444 Boe[345] - Future cash inflows from proved reserves increased from $91.08 million in 2020 to $269.71 million in 2022, while future costs also rose significantly[351] - The standardized measure of discounted future net cash flows increased from $17.48 million in 2020 to $98.38 million in 2022[352] Expenses and Fees - General and administrative expenses for 2022 were reported at $957,377, slightly up from $948,096 in 2021[298] - The Trust pays an annual administrative fee of $150,000 to the Trustee, with additional fees paid to the Delaware Trustee amounting to $2,500 in 2020 and 2021, and $2,510 in 2022[330] Cash Management - The targeted cash reserve of $1.175 million was fully funded by February 2023 to cover future known, anticipated, or contingent expenses[326] - The Trust withheld $943,970 from distributions to build a cash reserve of approximately $1.175 million for future expenses as of December 31, 2022[337] - The Trust's distributions to unitholders are expected to be made on or before the 45th day following the end of each quarter, with adjustments for cash reserves established for future expenses[326] Production and Joint Ventures - Cumulatively, since inception, the Trust has received payment for 80% of the net proceeds from the sale of 8.1 million barrels of oil equivalent (MMBoe) from the underlying properties[306] - VOC Brazos entered a joint venture with Hawkwood Energy, allowing Hawkwood to earn a 50% working interest in four wells and additional acreage in the Kurten Woodbine Unit[332] - In 2022, Wildfire Energy acquired Hawkwood, retaining the rights under the joint venture agreement[334] - VOC Brazos is evaluating the economic benefits of developing the Lower Woodbine Organic Shale, which may temporarily reduce cash available for distribution[335] Market Conditions - The average oil price per barrel rose from $36.48 in 2020 to $90.85 in 2022, while the average gas price per Mcf increased from $0.97 to $5.59 during the same period[352] - If annual cash proceeds are less than $1 million for two consecutive years, the Trust may be required to dissolve under its agreement[335] Impairment and Accounting - The Trust recorded an impairment expense of $41,261,354 during the quarter ended March 31, 2020, due to a substantial decline in oil future markets, but has not incurred additional impairment since then[321] - The Trust's financial statements are prepared on a modified cash basis of accounting, which is considered most meaningful for reporting revenues and distributions[311] - The net profits interest was recorded at a historical cost of $140,591,606, representing an 80% net profits interest to the Trust[321]

Commission File Number: 001-35160 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended September 30, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to VOC ENERGY TRUST (Exact name of registrant as specified in its charter) Delaware 80-6183103 (State or other jurisdiction of inco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended June 30, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number: 001-35160 VOC ENERGY TRUST (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended March 31, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number: 001-35160 VOC ENERGY TRUST Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of eac ...