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 ...

[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.) VOC Energy Trust reported a Q1 2020 distributable income of $1.87 million and a $41.3 million asset impairment charge due to a sharp decline in oil markets Condensed Statements of Distributable Income (Unaudited) | | Three months ended March 31, | | | :--- | :--- | :--- | | | **2020** | **2019** | | Income from net profits interest | $2,073,260 | $2,610,130 | | General and administrative expenses | $(290,458) | $(379,769) | | **Distributable income** | **$1,870,000** | **$2,465,000** | | **Distributions per Trust unit** | **$0.110** | **$0.145** | Condensed Statements of Assets and Trust Corpus (Unaudited) | | **March 31, 2020** | **December 31, 2019** | | :--- | :--- | :--- | | Cash and cash equivalents | $238,934 | $326,132 | | Investment in net profits interest (net) | $20,290,684 | $63,019,768 | | **Total assets / Trust corpus** | **$20,529,618** | **$63,345,900** | - The Trust recorded a significant impairment expense of **$41,261,354** during the quarter ended March 31, 2020, due to a substantial decline in oil future markets[12](index=12&type=chunk)[22](index=22&type=chunk) - A subsequent distribution of **$510,000**, or **$0.03 per Trust Unit**, was announced on April 17, 2020, for the first quarter, reflecting the sharp drop in crude oil prices[33](index=33&type=chunk)[34](index=34&type=chunk) [Notes to Condensed Financial Statements](index=4&type=section&id=NOTES%20TO%20CONDENSED%20FINANCIAL%20STATEMENTS) The notes clarify the Trust's passive structure, its modified cash basis accounting, and a material $41.3 million impairment charge due to market declines - The Trust holds an **80% term net profits interest** in oil and natural gas properties, which terminates on the later of December 31, 2030, or when **10.6 million barrels of oil equivalent (MMBoe)** have been produced and sold[16](index=16&type=chunk) - The Trust uses the **modified cash basis of accounting**, where revenues are recognized upon receipt and expenses upon payment[20](index=20&type=chunk)[21](index=21&type=chunk) - The first quarterly distribution in 2020 of **$0.11 per unit** was paid on February 14, 2020, based on net proceeds from Q4 2019[30](index=30&type=chunk) - VOC Brazos has provided a **letter of credit for $1.7 million** to the Trustee to cover potential future Trust expenses[32](index=32&type=chunk)[45](index=45&type=chunk) [Trustee's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=7&type=section&id=Item%202.%20Trustee's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) The discussion highlights a sharp drop in crude prices due to COVID-19, leading to a $41.3 million impairment and a 20.6% decrease in operational income - The West Texas Intermediate spot price for crude oil dropped sharply from **$61.18 per barrel** on January 2, 2020, to **$12.34** on April 28, 2020, due to the COVID-19 pandemic and an oil production dispute[36](index=36&type=chunk) Operational Results Comparison (for distributions paid in Q1) | | **Q1 2020** | **Q1 2019** | **% Change** | | :--- | :--- | :--- | :--- | | **Total Sales Volume (BOE)** | 168,856 | 140,036 | +20.6% | | **Average Oil Price ($/Bbl)** | $53.22 | $63.18 | -15.8% | | **Total Gross Proceeds** | $8,370,257 | $8,290,554 | +1.0% | | **Total Costs** | $5,778,682 | $5,027,891 | +15.0% | | **Excess of Revenues over Costs** | $2,591,575 | $3,262,663 | -20.6% | | **Income from Net Profits Interest** | $2,073,260 | $2,610,130 | -20.6% | - The increase in total costs was driven by a **7.8% rise in lease operating expenses**, an **18.5% increase in production and property taxes**, and a **35.0% surge in development expenses**[42](index=42&type=chunk) - The Trustee is **withholding an amount** from the second quarterly distribution estimated to be sufficient to pay Trust expenses for the next twelve months due to the uncertain economic environment[34](index=34&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=10&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The Trust is exempt from these disclosures as it qualifies as a smaller reporting company - As a **smaller reporting company** defined by Rule 12b-2 of the Exchange Act, the Trust is not required to provide information under this item[50](index=50&type=chunk) [Controls and Procedures](index=10&type=section&id=Item%204.%20Controls%20and%20Procedures.) The Trustee concluded that disclosure controls were effective, while noting reliance on operational information provided by VOC Brazos - A Trust Officer of the Trustee concluded that the **disclosure controls and procedures of the Trust are effective**[52](index=52&type=chunk) - The Trustee **relies on information provided by VOC Brazos**, including operating data, future plans, and reserve information[53](index=53&type=chunk) - There were **no changes in the Trust's internal control over financial reporting** during the quarter ended March 31, 2020, that materially affected, or are reasonably likely to materially affect, its internal controls[54](index=54&type=chunk) [PART II—OTHER INFORMATION](index=12&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Risk Factors](index=12&type=section&id=Item%201A.%20Risk%20Factors.) This section highlights significant new risks from the COVID-19 pandemic and OPEC actions, which have caused a severe oil price collapse - The **COVID-19 pandemic** is negatively impacting worldwide economic activity and global demand for crude oil, leading to a sharp drop in prices[57](index=57&type=chunk) - A prolonged period of low crude oil prices will adversely affect the operators of the underlying properties and will result in **substantially lower or potentially no quarterly cash distributions** to unitholders[57](index=57&type=chunk) - The failure of **OPEC and Russia** to agree on production cuts in March 2020 led to an immediate and steep decrease in oil prices, highlighting the risk of price volatility from geopolitical actions[59](index=59&type=chunk) [Exhibits](index=13&type=section&id=Item%206.%20Exhibits.) This section lists the Sarbanes-Oxley Act certifications filed as exhibits with the Form 10-Q 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=14&type=section&id=SIGNATURES) - The report was signed on **May 11, 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[64](index=64&type=chunk)[66](index=66&type=chunk) - The filing notes that VOC Energy Trust has **no principal executive officer, principal financial officer, or board of directors**, as these functions are performed by the Trustee[64](index=64&type=chunk)