PACIFIC COAST OIL TR UTS - ROYTL STOCK NEWS

Pacific Coast Oil Trust (ROYTL) announced no cash distribution to unitholders for October 31, 2024, based on August 2024 calculations. A key development involves a whistleblower complaint filed by a former PCEC employee alleging false data provision regarding asset retirement obligations. The Trust's financial position shows operating income of $1.5M from Developed Properties, with revenues of $3.3M and expenses of $1.7M. The Trust currently owes PCEC approximately $8.8M, and monthly shortfalls continue to accumulate. Due to significant asset retirement obligations and ongoing deficits, the likelihood of future unitholder distributions remains extremely remote.

Pacific Coast Oil Trust (OTC:ROYTL) announced no cash distribution to unitholders for September 2024 due to insufficient net profits. Key points:

- Operating income for Developed Properties: ~$1.5 million
- Revenues: ~$3.5 million
- Lease operating expenses: ~$2.0 million
- Average realized price: $87.15 per Boe
- Net profits deficit decreased from $19.2 million to $18.4 million

The Trust owes PCEC ~$7.1 million in loans and drawn credit. PCEC increased its estimated asset retirement obligations (ARO), further reducing potential distributions. The Trust is in the process of dissolution but faces ongoing arbitration with Evergreen Capital Management and PCEC regarding the dissolution process and legal fee deductions.

Pacific Coast Oil Trust (OTC-ROYTL) announced no cash distribution for August 2024 due to insufficient net profits. The trust faces significant challenges:

1. Cumulative net profits deficit increased to $19.2 million for Developed Properties and $130,000 for Remaining Properties.

2. Trust owes PCEC approximately $6.9 million in loans and interest.

3. Asset Retirement Obligations (ARO) continue to impact financials, with recent upward adjustments.

4. Trust dissolution process is ongoing, following arbitration rulings.

5. Future distributions to unitholders are extremely unlikely due to financial constraints and ongoing obligations.

Pacific Coast Oil Trust (OTC-ROYTL) announced no cash distribution for July 2024 due to insufficient net profits. Key points:

• Trust owes PCEC approximately $6.5 million in loans and interest
• Net profits deficit for Developed Properties increased to $17.4 million
• ARO deductions likely to eliminate distributions for foreseeable future
• Trust dissolution process ongoing, pending completion of financial audits
• PCEC deducted legal fees related to Evergreen proceedings from net profits
• Trustee removal process underway, with successor appointment pending

The Trust's financial situation remains challenging, with ongoing legal proceedings and significant debt impacting potential future distributions to unitholders.

Pacific Coast Oil Trust (OTC-ROYTL) announced no cash distribution for June 2024 due to insufficient net profits in April 2024. Revenues from developed properties were $3.4 million with an average price of $83.05 per Boe, while operating income was $1.6 million. Net profits were $1.2 million, decreasing the cumulative net profits deficit to $15.1 million for developed properties. The trust is facing a severe shortfall, with outstanding debt to PCEC of approximately $6.4 million and fully drawn down credit lines. The likelihood of future distributions remains extremely remote. The trust is mandated to dissolve as annual cash proceeds were less than $2.0 million for 2020 and 2021. Legal and administrative expenses continue to exceed revenues, causing further financial strain. Ongoing arbitration and legal issues related to asset retirement obligations and trustee replacement further complicate the trust’s situation.

Pacific Coast Oil Trust (OTC–ROYTL) announced there will be no cash distribution for May 2024 due to insufficient net profits generated in March 2024. The Trust faces significant financial challenges, including a $16.6 million net profit deficit for Developed Properties and $656,000 for Remaining Properties. Operating income totaled $1 million, with revenues at $3.1 million and expenses at $1.9 million. Consequently, administrative expenses and outstanding debt to PCEC are unlikely to be covered by monthly payments. The Trust is also dealing with asset retirement obligations (ARO) of $26.5 million for Developed Properties and $3.1 million for Remaining Properties. Additionally, litigation and arbitration costs have further strained financials. A $4.0 million legal fee deduction in September 2023 added to the deficit. The Trust is in the process of winding up and selling assets due to insufficient annual proceeds.

The press release by Pacific Coast Oil Trust (PACIFIC COAST OIL TRUST) announces that there will be no April cash distribution to unit holders due to net profit deficits and high expenses. The trust faces financial challenges with outstanding debt, reduced revenues, and potential dissolution due to low proceeds. Additionally, the trust is engaged in legal battles with Evergreen Capital Management and PCEC, affecting the distribution of net proceeds to unitholders.