Financial Performance - For the three months ended September 30, 2022, income from net profits interest was $6,897,212, compared to $2,843,473 for the same period in 2021, representing a 142% increase[7]. - Distributable income for the three months ended September 30, 2022, was $6,460,000, up from $2,720,000 in 2021, marking an increase of 137%[7]. - The Trust's gross proceeds from oil and natural gas sales for the three months ended September 30, 2022, were $14,203,250, an increase of $6,264,894 or 78.9% from $7,938,356 for the same period in 2021[40]. - The excess of revenues over direct operating expenses was $8,621,515 for the three months ended September 30, 2022, an increase of $5,067,174 or 142.6% from $3,554,341 in 2021[42]. - Income from net profits interest for the three months ended September 30, 2022, was $6,897,212, compared to $2,843,473 for the same period in 2021[39]. - The Trust's distributable income for the three months ended September 30, 2022, was $6,460,000, an increase of $3,740,000 from $2,720,000 in 2021[42]. - Gross proceeds from oil and natural gas sales increased by $15,871,691 or 82.6% to $35,084,875 for the nine months ended September 30, 2022, compared to $19,213,184 for the same period in 2021[45]. - The excess of revenues over direct operating expenses was $20,990,724, an increase of 193.0% from $7,165,182 for the same period in 2021[47]. - Income from net profits interest before reserve adjustments was $16,792,579 for the nine months ended September 30, 2022, compared to $5,732,146 in 2021[47]. - Distributable income for the nine months ended September 30, 2022, was $15,470,000, significantly up from $5,270,000 in the same period of 2021[47]. Cash Distributions - Cash distributions per Trust unit increased to $0.38 for the three months ended September 30, 2022, from $0.16 in the same period of 2021, reflecting a 138% rise[7]. - The first quarterly distribution in 2022 was $4,250,000, or $0.25 per Trust Unit, made on February 14, 2022[29]. - The fourth quarterly distribution in 2022 was announced at $6,205,000, or $0.365 per Trust Unit, to be paid on November 14, 2022[36]. - The Trustee intends to build a cash reserve of approximately $1.175 million for future expenses, with the ability to adjust this amount at any time[7]. - As of September 30, 2022, the Trust held a cash reserve of $837,495 for future development and operating expenses[48]. - The Trustee intends to build a cash reserve to approximately $1.175 million, in addition to a $1.7 million letter of credit for future expenses[50]. Operational Metrics - Oil sales volumes increased to 131,018 Bbls for the three months ended September 30, 2022, a rise of 2,204 Bbls or 1.7% from 128,814 Bbls in 2021[40]. - Oil sales volumes were 391,719 Bbls, an increase of 1.4% from 386,416 Bbls in the same period of 2021, while natural gas sales volumes decreased by 9.3% to 239,254 Mcf[45]. - The average price for oil rose 75.5% to $104.64 per Bbl, while the average price for natural gas increased 102.1% to $6.65 per Mcf during the same period[40]. - Average oil price rose by 79.0% to $85.73 per Bbl, while average natural gas price increased by 134.0% to $6.27 per Mcf during the nine months ended September 30, 2022[45]. Expenses and Assets - Total costs for the nine months ended September 30, 2022, were $14,094,151, an increase of $2,046,149 or 17.0% from $12,048,002 in 2021[46]. - Lease operating expenses for the three months ended September 30, 2022, were $3,851,595, an increase of $782,325 or 25.5% from $3,069,270 in 2021[41]. - General and administrative expenses for the three months ended September 30, 2022, were $161,324, slightly down from $174,503 in the same period of 2021[7]. - Total assets as of September 30, 2022, were $15,118,800, down from $16,005,190 as of December 31, 2021, indicating a decrease of approximately 5.5%[9]. - The Trust corpus at the end of the period was $15,118,800, consistent with the amount at the beginning of the period, indicating stability in the Trust's capital[11]. - The Trust's investment in net profits interest remained unchanged at $140,591,606 as of September 30, 2022, reflecting no impairment during the reporting period[9][24]. Taxation and Accounting - The Trust has not adopted any new accounting pronouncements that would impact its financial statements during the quarter ended September 30, 2022[23]. - The Trust is not required to pay federal or state income taxes, resulting in no provision for income taxes being made[27]. Future Outlook - Cumulatively, as of September 30, 2022, the Trust has received payments for 80% of the net proceeds from the sale of 8.0 million barrels of oil equivalent (MMBoe) from the underlying properties[16]. - VOC Brazos does not expect significant changes in future costs for underlying properties, other than fluctuations in oilfield service costs[52].

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 ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ 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 juri ...

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, 2021 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 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, 2021 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, 2021 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) (I.R.S. Employer Identification No.) Delaware 80-6183103 The Bank of New York Mellon Trust ...

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ 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 of ...

[Report Overview](index=1&type=section&id=Report%20Overview) This Quarterly Report on Form 10-Q for the period ended September 30, 2020, is filed by VOC Energy Trust, a Delaware statutory trust with 17 million units outstanding - This is a Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020, filed by VOC Energy Trust[2](index=2&type=chunk) - The registrant is VOC Energy Trust, a Delaware statutory trust, with its units of beneficial interest traded on the New York Stock Exchange under the symbol 'VOC'[2](index=2&type=chunk)[3](index=3&type=chunk) - As of November 9, 2020, there were **17,000,000 Units of Beneficial Interest outstanding**[4](index=4&type=chunk) [PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements.) For the third quarter of 2020, VOC Energy Trust reported zero distributable income, a stark contrast to the $3.5 million distributed in the same period of 2019, driven by a collapse in income from its net profits interest due to low oil prices [Condensed Financial Statements](index=3&type=section&id=Condensed%20Financial%20Statements) This section presents the unaudited condensed statements of distributable income, assets, and trust corpus for the periods ended September 30, 2020 Condensed Statements of Distributable Income (Unaudited) | | Three months ended Sep 30, | | Nine months ended Sep 30, | | | :--- | :--- | :--- | :--- | :--- | | | **2020** | **2019** | **2020** | **2019** | | Income from net profits interest | $ — | $ 3,751,554 | $ 3,510,895 | $ 9,321,096 | | General and administrative expenses | $ (139,230) | $ (200,922) | $ (661,579) | $ (738,665) | | **Distributable income** | **$ —** | **$ 3,485,000** | **$ 2,380,000** | **$ 8,670,000** | | **Distributions per Trust unit** | **$ —** | **$ 0.205** | **$ 0.14** | **$ 0.51** | Condensed Statements of Assets and Trust Corpus (Unaudited) | | September 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $ 795,448 | $ 326,132 | | Investment in net profits interest (net) | $ 19,120,301 | $ 63,019,768 | | **Total assets / Trust corpus** | **$ 19,915,749** | **$ 63,345,900** | - For the nine months ended September 30, 2020, the Trust recorded an amortization and impairment expense of **$43.9 million**, which included a significant impairment charge of **$41,261,354**, compared to an amortization expense of $5.2 million in the same period of 2019[11](index=11&type=chunk) [Notes to Condensed Financial Statements](index=4&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) The notes clarify that the Trust is a passive entity holding an 80% net profits interest in oil and gas properties from VOC Brazos, which terminates by 2030 or after 10.6 MMBoe are produced - The Trust was formed to acquire and hold an **80% term net profits interest** from oil and natural gas properties held by VOC Brazos and VOC Kansas, terminating on the later of December 31, 2030, or when **10.6 million barrels of oil equivalent (MMBoe)** have been produced and sold[13](index=13&type=chunk)[15](index=15&type=chunk) - The Trust uses a modified cash basis of accounting, a comprehensive basis of accounting other than U.S. GAAP, as permitted for royalty trusts by the SEC[19](index=19&type=chunk)[20](index=20&type=chunk) - Due to a substantial decline in oil future markets, the Trust recorded an impairment expense of **$41,261,354** during the quarter ended March 31, 2020, which was charged directly to Trust corpus and did not affect distributable income, with no additional impairment recorded in Q3 2020[21](index=21&type=chunk) - There was no third quarterly distribution in 2020 because revenue collected by VOC Brazos from April to June 2020 was insufficient to cover costs, a direct result of the decline in oil prices from **$63.27/barrel in January 2020** to a monthly average low of **$16.70 in April 2020**[28](index=28&type=chunk)[31](index=31&type=chunk) - On October 20, 2020, the Trust announced a fourth-quarter distribution of **$1,445,000**, or **$0.085 per Trust Unit**, to be paid on November 13, 2020[35](index=35&type=chunk) [Trustee's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=8&type=section&id=Item%202.%20Trustee%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) The Trustee's analysis attributes the Trust's poor performance to the COVID-19 pandemic and the oil price war, which caused a collapse in crude oil prices, resulting in a $41.3 million impairment charge in Q1 2020 and zero distributable income for Q3 2020 [Overview](index=8&type=section&id=Overview) The overview emphasizes the severe negative impact of the COVID-19 pandemic and the dispute between Russia and OPEC on oil prices, leading to a significant impairment charge and no distribution for Q3 2020 - The COVID-19 pandemic and the dispute over production levels between Russia and OPEC led to a significant decline in oil prices, with the WTI spot price falling from **$63.27/barrel on Jan 6, 2020**, to **$38.79/barrel on Nov 5, 2020**[38](index=38&type=chunk) - A substantial decline in oil future markets led to an impairment expense of **$41,261,354** during the quarter ended March 31, 2020, which was charged to Trust corpus and did not affect distributable income[39](index=39&type=chunk) [Results of Operations](index=9&type=section&id=Results%20of%20Operations) In Q3 2020, the Trust generated no income from its net profits interest, down from $3.75 million in Q3 2019, caused by a 67.6% plunge in gross proceeds driven by a 61.6% decrease in average oil price and a 17.4% drop in oil sales volume Quarterly Operating Results Comparison (For the three months ended Sep 30) | | 2020 | 2019 | Change | | :--- | :--- | :--- | :--- | | **Average Oil Price (per Bbl)** | $22.53 | $58.63 | -61.6% | | **Oil Sales Volume (Bbl)** | 122,672 | 148,496 | -17.4% | | **Total Gross Proceeds** | $2,889,592 | $8,929,192 | -67.6% | | **Total Costs** | $2,898,398 | $4,239,750 | -31.6% | | **Income from net profits interest** | $0 | $3,751,554 | -100% | Nine-Month Operating Results Comparison (For the nine months ended Sep 30) | | 2020 | 2019 | Change | | :--- | :--- | :--- | :--- | | **Average Oil Price (per Bbl)** | $45.08 | $56.87 | -20.7% | | **Total Gross Proceeds** | $20,734,685 | $24,497,242 | -15.4% | | **Development Expenses** | $5,937,342 | $1,936,834 | +206.5% | | **Income from net profits interest** | $3,510,895 | $9,321,096 | -62.3% | - The significant increase in nine-month development expenses was primarily due to payments totaling **$4,940,967** made to the operator from net revenue received from the Hawkwood Development wells[46](index=46&type=chunk) [Liquidity and Capital Resources](index=11&type=section&id=Liquidity%20and%20Capital%20Resources) The Trust's primary use of cash is for distributions to unitholders, after covering administrative expenses, with liquidity supported by a cash reserve held by the Trustee and a $1.7 million letter of credit from VOC Brazos - The Trust's main use of cash is for distributions to unitholders, and as of September 30, 2020, the Trustee held a cash reserve of **$795,448** for future liabilities[48](index=48&type=chunk) - To mitigate liquidity risk, VOC Brazos has provided a **$1.7 million letter of credit** to the Trustee to cover future expenses if cash on hand is insufficient, and the Trust had no borrowings during the period[49](index=49&type=chunk) - VOC Brazos can maintain a cash reserve of up to **$1.0 million** from funds otherwise distributable to the Trust, with the balance of this reserve at **$992,955** as of September 30, 2020[51](index=51&type=chunk) [Controls and Procedures](index=12&type=section&id=Item%204.%20Controls%20and%20Procedures.) The Trustee evaluated the Trust's disclosure controls and procedures, concluding they were effective as of September 30, 2020, with no material changes in internal control over financial reporting during the quarter - The Trustee evaluated the Trust's disclosure controls and procedures and concluded that they are effective[56](index=56&type=chunk) - There were no changes in the Trust's internal control over financial reporting during the quarter ended September 30, 2020, that materially affected or are likely to materially affect financial reporting[58](index=58&type=chunk) - The Trustee relies on information provided by VOC Brazos, including operating data, expenditure plans, and reserve information, for its disclosures[57](index=57&type=chunk) [PART II—OTHER INFORMATION](index=13&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Risk Factors](index=13&type=section&id=Item%201A.%20Risk%20Factors.) This section emphasizes that the COVID-19 pandemic and the volatility in oil prices, driven by actions of OPEC and other nations, pose material risks to the Trust, potentially leading to reduced or eliminated distributions - The COVID-19 pandemic is identified as a primary risk factor, causing negative impacts on global economic activity, oil demand, and prices, which could materially and adversely affect proceeds and distributions to unitholders[62](index=62&type=chunk) - The actions and lack of agreement among OPEC and other oil-exporting nations, such as the price war in March 2020, create significant price volatility and could materially reduce or eliminate cash available for distribution[64](index=64&type=chunk) - A prolonged period of low crude oil prices could lead the operator to shut in or curtail production, or plug and abandon marginal wells, which would reduce the amount of oil produced and the ultimate proceeds received by the Trust[62](index=62&type=chunk) [Exhibits](index=14&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Form 10-Q, which consist of the CEO and CFO certifications required under Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 Filed Exhibits | Exhibit Number | Description | | :--- | :--- | | 31 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | | 32 | Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | [Signatures](index=15&type=section&id=Signatures) The report is signed on November 9, 2020, by Michael J. Ulrich, Vice President of The Bank of New York Mellon Trust Company, N.A., acting as Trustee for VOC Energy Trust - The report was duly signed on November 9, 2020, on behalf of VOC Energy Trust by its Trustee, The Bank of New York Mellon Trust Company, N.A[68](index=68&type=chunk)[70](index=70&type=chunk) - It is explicitly stated that the Registrant, VOC Energy Trust, does not have a principal executive officer, principal financial officer, board of directors, or similar functions[69](index=69&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ¨ 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) 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, 2020 OR (State or other jurisdiction of incorporation or organization ...