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     149  0 Kommentare Pacific Coast Oil Trust Announces January Cash Distribution

    PACIFIC COAST OIL TRUST (NYSE:ROYT) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today a cash distribution to the holders of its units of beneficial interest of $0.00385 per unit, payable on January 24, 2020, to unitholders of record on January 9, 2020. The Trust’s distribution calculation relates to net profits generated during November 2019 as provided in the conveyance of net profits interests and overriding royalty interest. All information in this press release has been provided to the Trustee by PCEC.

    The current month’s calculation for the Developed Properties resulted in $1.0 million of revenues less direct operating expenses and development costs. Revenues from the Developed Properties were $3.3 million, lease operating expenses including property taxes were $2.3 million and development costs were approximately $44,000. Average realized prices for the Developed Properties were $61.09 per Boe in November, as compared to $55.68 per Boe in October. Income from the net profits interest for the Developed Properties for the month of November was approximately $0.8 million, offset by the remaining net deficit from prior periods of approximately $0.1 million, resulting in a net amount of $0.7 million.

    As revenues from the Remaining Properties during the month of November were sufficient to repay the remaining cumulative net profits deficit for the Remaining Properties, the Trust received income from the 25% net profits interest instead of income from the 7.5% overriding royalty interest, as provided under the conveyance. The current month’s calculation for the Remaining Properties resulted in $0.7 million of revenues less direct operating expenses and development costs. Revenues from the Remaining Properties were $1.2 million, lease operating expenses including property taxes were $0.5 million and development costs were approximately $4,000. Average realized prices for the Remaining Properties were $58.91 per Boe in November, as compared to $55.93 per Boe in October. Income from the net profits interest for the Remaining Properties for the month of November was $0.2 million, offset by the remaining cumulative net profits deficit of $0.1 million, resulting in a net amount of $31,000.

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    Pacific Coast Oil Trust Announces January Cash Distribution PACIFIC COAST OIL TRUST (NYSE:ROYT) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today a cash distribution to the holders of its units of beneficial interest of $0.00385 per unit, payable on January …