Pacific Coast Oil Trust Announces February Cash Distribution

  Pacific Coast Oil Trust Announces February Cash Distribution

Business Wire

AUSTIN, Texas -- January 25, 2013

PACIFIC COAST OIL TRUST (NYSE:ROYT) (the “Trust”) a perpetual royalty trust,
announced today a cash distribution to the holders of its units of beneficial
interest of $0.15116 per unit, payable on February 14, 2013, to unitholders of
record on February 4, 2013. The Trust’s distribution relates to net profits
and overriding royalties generated during December 2012 as provided in the
conveyance of net profits and overriding royalty interest.

This month’s distribution is higher than the previous month ($0.15116 per unit
vs. $0.13941 per unit). Higher crude oil production and prices favorably
impacted this month’s distribution as total production was approximately 8%
higher and average realized prices were 2% higher than the prior month. The
current net profits amount from the Developed Properties was approximately
$5.8 million, after receipt by PCEC from its counterparties of $0.4 million
related to the settlement of applicable hedge contracts. The development
expense for the Developed Properties was $0.5 million during the period.

The current distribution also includes a 7.5% overriding royalty on the
Remaining Properties which produced 22,783 Boe from 36 Orcutt Diatomite wells
and one Orcutt Field well. Production from the Remaining Properties was
approximately 10% higher than the prior month due to the Orcutt Diatomite
expansion project being ahead of schedule. The cumulative deficit of the net
profit interest on the Remaining Properties, including the 7.5% overriding
royalty payments, is approximately $5.4 million.

Trust administrative expenses incurred in connection with the Trust, and the
monthly operating and services fee payable to PCEC, totaling $0.2 million were
deducted in the calculation of the distribution payable to unitholders.

Sales Volumes and Prices

The following table displays PCEC’s underlying sales volumes and average
prices for the month of December 2012.

                             Underlying Sales
                                 Sales Volumes    Average Price
                                 (Boe)               (per Boe)
                                                     
  Developed Properties (a)       113,137             $    96.91
  Remaining Properties (b)       22,783              $    96.41
                                                     
  (a) Crude oil sales represented 97% of sales volumes.
  (b) Crude oil sales represented 100% of sales volumes.
                                                     

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 (the “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
(the “SEC”). As described in the Trust’s filings with the SEC, the amount of
the 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 these
provisions. 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 the cautionary
statements made in this press release. 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 filings with the SEC.
The Trust's quarterly and other filed reports are or will be available over
the Internet at the SEC's website at http://www.sec.gov.

Contact:

Pacific Coast Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell, 1-800-852-1422
 
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