SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.   20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934



Date of Report (Date of Earliest Event Reported) December 30, 2010


Pope Resources, A Delaware Limited Partnership
(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code (360) 697-6626


NOT APPLICABLE
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (SEE General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

INFORMATION TO BE INCLUDED IN THE REPORT

Item 7.01           Regulation FD Disclosure

On December 30, 2010 the registrant issued a press release announcing the closing of a $2.4 million conservation easement sale on nearly 6,900 acres south of the Swift Reservoir in Skamania County.  The easement will restrict future development on the property while allowing for the continued growth and harvest of timber.  It was funded by the federal Forest Legacy program.


Item 9.01           Financial Statements and Exhibits

Exhibit No.      Description

99.1                  Press release of the registrant dated December 30, 2010

SIGNATURES

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Exhibit 99.1

Pope Resources Announces $2.4 Million Conservation Easement Sale

POULSBO, Wash.--(BUSINESS WIRE)--December 30, 2010--Pope Resources (NASDAQ:POPE) announced the closing of a $2.4 million conservation easement sale on nearly 6,900 acres south of the Swift Reservoir in Skamania County. The easement will restrict future development on the property while allowing for the continued growth and harvest of timber. It was funded by the federal Forest Legacy program.

The conservation easement sale represents the culmination of several years of coordinated effort between the Partnership, Skamania County, the Columbia Land Trust, and the Washington State Department of Natural Resources. Several years ago the parties to this sale began working together on a joint vision for a 24,000-acre subset of the Partnership’s Columbia tree farm in southwest Washington near the Swift Reservoir. This joint vision calls for putting a total of 20,000 acres into various conservation programs while allowing for development on the remaining 4,000 acres. The parties have applied for a number of federal grants with the intent of additional closings in the years ahead.

About Pope Resources

Pope Resources, a publicly traded limited partnership, and its subsidiaries Olympic Resource Management and Olympic Property Group, own or manage 178,000 acres of timberland and development property in Washington and Oregon. We also manage, co-invest in, and consolidate two timberland investment funds that we manage for a fee. In addition, we offer our forestry consulting and timberland investment management services to third-party owners and managers of timberland in Washington, Oregon, and California. The company and its predecessor companies have owned and managed timberlands and development properties for more than 150 years. Additional information on the company can be found at www.poperesources.com. The contents of our website are not incorporated into this release or into our filings with the Securities and Exchange Commission.

CONTACT:
Pope Resources
VP & CFO
Tom Ringo, 360-697-6626
Fax: 360-697-1156