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Pacific Coast Oil Trust Announces Monthly Net Profits Interest Calculations
HOUSTON, January 22, 2026--PACIFIC COAST OIL TRUST (OTC–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 January 28, 2026 based on the Trust’s calculation of net profits generated during November 2025 (the "Current Month") as provided in the conveyance of net profits interests and overriding royalty interest (the "Conveyance"). As furthe
About this update from Pacific Coast Oil Tr
[{"type":"text","content":"HOUSTON, January 22, 2026--(BUSINESS WIRE)--PACIFIC COAST OIL TRUST (OTC–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 January 28, 2026 based on the Trust’s calculation of net profits generated during November 2025 (the "Current Month") as provided in the conveyance of net profits interests and overriding royalty interest (the "Conveyance"). As further described below under "Update on Estimated Asset Retirement Obligations," based on information from PCEC, any monthly payments that PCEC may make to the Trust may not be sufficient to cover the Trust’s administrative expenses and outstanding debt to PCEC, and therefore the likelihood of distributions to the unitholders in the foreseeable future is extremely remote. As further described below under "Status of the Dissolution of the Trust", because the annual cash proceeds received by the Trust from its net profits interests (the "Net Profits Interests") and 7.5% overriding royalty interest (the "Royalty Interest") totaled less than $2.0 million for each of 2020 and 2021, the amended and restated trust agreement governing the Trust (the "Trust Agreement") provides that the Trust is to be dissolved and wound-up. All financial and operational information in this press release has been provided to the Trustee by PCEC.","length":1535,"tagName":"p"},{"type":"text","content":"On October 23, 2024, a terminated employee of PCEC filed a complaint, styled Brendan Potyondy v. Pacific Coast Energy Company, LP, in the U.S. District Court for the Central District of California alleging that PCEC retaliated against him for engaging in protected whistleblowing activities in violation of federal and state laws. The plaintiff alleges that he filed certain reports with several federal and state agencies alleging violations of law by PCEC. Among the agencies plaintiff has contacted or alleges to have contacted are the U.S. Securities and Exchange Commission ("SEC"), the U.S. Department of Labor’s Occupational Safety and Health Administration ("OSHA") the California Occupational Safety and Health Administration, the California Geologi...