Pacific Coast Oil Trust Regains Compliance with NYSE Continued Listing Requirements

AUSTIN, Texas--(BUSINESS WIRE)-- PACIFIC COAST OIL TRUST (NYSE: ROYT), a perpetual royalty trust formed by Pacific Coast Energy Company LP (PCEC), announced today that the Trust is in compliance with the New York Stock Exchange’s continued listing requirements, including the requirement for a minimum trading price.

On February 25, 2016, the Trust received notification from the NYSE that the Trust was not in compliance with the continued listing standard, which requires a minimum average closing price of $1 per share over a consecutive 30 day trading period.

On April 1, 2016, the NYSE notified the Trust that it had regained compliance with the NYSE’s minimum closing price requirement after the closing price of the Trust’s units on March 31st and the average closing price of the Trust’s units for the 30 days of trading that ended on March 31st were both at least $1. Accordingly, the NYSE will remove the “.BC” indicator from the Trust’s stock symbol.

Overview of Trust Structure

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 (Underlying Properties). The Underlying Properties and the Trust’s net profits and royalty interests are described in the Trust’s filings with the Securities and Exchange Commission (SEC). As described in the Trust’s filings with the SEC, the amount of any periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, development expenses, and the amount and timing of the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.pacificcoastoiltrust.com.

Cautionary Statement Regarding Forward-Looking Information

This press release contains statements that are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are "forward-looking statements" for purposes of this cautionary statement. These forward-looking statements include the amount and date of any anticipated distribution to unitholders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses. Statements made in this press release are qualified by this cautionary statement. Neither PCEC nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by Pacific Coast Oil Trust is subject to the risks described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 4, 2016, and if applicable, the Trust’s Quarterly Reports on Form 10-Q. The Trust's Annual Report on Form 10-K and the Quarterly Reports on Form 10-Q reports are available over the Internet at the SEC's website at http://www.sec.gov.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160404006620/en/

Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell, 1-512-236-6555

Source: Pacific Coast Oil Trust

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