Pacific Coast Oil Trust (ROYTL)
OTOTC · Common · CUSIP 694103102
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Yield to Call•.••%
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Security Profile

Security's distribution is suspended.
Security Type
U.S. Royalty Trust
CUSIP
694103102
Market Cap
Micro Cap
IPO
5/4/2012 · $20.00/unit
Previous Symbol
ROYT (changed 8/6/2020)
Business: Pacific Coast Oil Trust, is a perpetual Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California
Notes: From a 8K filed on August 22, 2022 -- On December 10, 2021, Evergreen filed a motion for temporary restraining order and for preliminary injunction, seeking to (1) enjoin the Trustee from dissolving the Trust, (2) enjoin PCEC from dissolving the Trust, (3) direct PCEC to account for all monies withheld from the Trust on the basis of ARO costs since September 2019, and (4) direct PCEC to place such monies in escrow.December 16, 2021, the Court granted Evergreen’s application for a temporary restraining order. Accordingly, the Trust did not dissolve at the end of 2021 and commence the process of selling its assets and winding up its affairs. On January 11, 2022, PCEC and Evergreen filed an agreed stipulation to stay the prosecution of Evergreen’s derivative claims pending an arbitration of such claims. On January 13, 2022, the Court signed an Order dissolving the December 16, 2021, temporary restraining order and entering a new temporary restraining order to preserve the status quo until a tribunal of three arbitrators appointed pursuant to the trust agreement could rule on any request by Evergreen for injunctive relief. On April 11, 2022, PCEC notified the Court, at the arbitrators’ request, that the arbitration panel had issued an order on April 7, 2022, denying Evergreen’s request for injunctive relief. On April 13, 2022, Evergreen notified the Court that Evergreen had filed a motion for reconsideration with the arbitration panel that same day. On June 9, 2022, PCEC and Evergreen filed a stipulation, requesting that the Court stay the lawsuit for 90 days pending further ruling from the arbitration panel. <p> October 13, 2021 -- PACIFIC COAST OIL TRUST (OTC Pink: ROYTL) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today that there will be no cash distribution to the holders of its units of beneficial interest of record on October 22, 2021 based on the Trust’s calculation of net profits generated during August 2021 (the “Current Month”) as provided in the conveyance of net profits interests and overriding royalty interest (the “Conveyance”). If the Trust continues to receive insufficient monthly income from its net profits interests and overriding royalty interest, the Trust is expected to terminate by its terms by the end of 2021.

Company Contact

CEO
Randall H. Breitenbach
CFO
James G. Jackson
Headquarters
601 Travis, Floor 16, Houston, TX 77002
Phone
512-236-6555
Investor Relations
Sarah Newell · 512-236-6555
SEC EDGAR Filings
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