Pacific Coast Oil Trust (ROYT) to Skip June Cash Distribution
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Pacific Coast Oil Trust Announces There Will Be No June Cash Distribution
May 24, 2016 4:15 PM EDTAUSTIN, Texas--(BUSINESS WIRE)-- PACIFIC COAST OIL TRUST (NYSE: ROYT) (the Trust), a perpetual 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 June 3, 2016. The Trusts distribution calculation relates to net profits and overriding royalties generated during April 2016 as provided in the conveyance of net profits and overriding royalty interest.
The current months calculation for the Developed Properties resulted in $349,000 of excess revenues over direct operating expenses and development expenses.... More
