Texas Pacific Land Trust 8-K Results of Operations and Financial Condition

Exhibit 99.1

TEXAS PACIFIC LAND TRUST

1700 Pacific Avenue

Suite 2770

Dallas, Texas 75201

______

TRUSTEES:		ROY THOMAS
MAURICE MEYER III	Telephone (214) 969-5530	General Agent
JOHN R. NORRIS III
JAMES K. NORWOOD		DAVID M. PETERSON
		Assistant General Agent

TEXAS PACIFIC LAND TRUST

REPORT OF OPERATIONS - UNAUDITED

	Three Months Ended
	March 31, 2012		March 31, 2011
Rentals, royalties and other income	$	6,013,079	$	5,208,608
Land sales		3,567,000		511,500
Total income	$	9,580,079	$	5,720,108
Provision for income tax	$	2,840,031	$	1,525,924
Net income	$	5,938,255	$	3,359,569
Net income per sub-share	$	0.65	$	0.35
Average sub-shares outstanding during period		9,122,337		9,518,001

This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include statements regarding the Trust's future operations and prospects, the markets for real estate in the areas in which the Trust owns real estate, applicable zoning regulations, the markets for oil and gas, production limits on prorated oil and gas wells authorized by the Railroad Commission of Texas, expected competition, management's intent, beliefs or current expectations with respect to the Trust's future financial performance and other matters.  We assume no responsibility to update any such forward-looking statements.