Pacific Coast Oil Trust (ROYT) Doesn't Plan October Cash Distribution
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Pacific Coast Oil Trust Announces There Will Be No October Cash Distribution
September 28, 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 October 11, 2016. The Trusts distribution calculation relates to net profits and overriding royalties generated during August 2016 as provided in the conveyance of net profits and overriding royalty interest.
The current months calculation for the Developed Properties resulted in a deficit of $237,000 of revenues less direct operating expenses and... More
