Pacific Coast Oil Trust , ROYTL Stock

ROYTL Stock ,PACIFIC COAST OIL TRUST (OTC-ROYTL) (the “Trust”) is a trust for royalty established through Pacific Coast Energy Company LP (“PCEC”) The Trust made public today the fact that there will not be a cash payment to holders of its units with beneficial interest that were recorded on the 31st of January, 2023, based on the Trust’s calculation of net profit that were earned during the month of the month of November in 2022 (the “Current Month”) as stipulated in the transfer of net profits interest and the overriding royalty interests (the “Conveyance”). Since the Trust has received not enough monthly earnings from its net profits interests and the overriding royalty interest between 2020 and 2021 The Trust was originally anticipated to be terminated under its end of 2021. However in the next paragraph, a judge had granted a temporary restraining or interim order to stop the dissolution of Trust until an arbitral tribunal has a chance to decide on the plaintiff’s demand for an injunctive remedy. Further, as described below in light of the information received from PCEC the possibility of distributions to unitholders in the near future is highly unlikely. The financial and operational information contained in this press release is supplied to the Trustee from PCEC.

The current month’s distribution calculation of those who own the Developed Properties resulted in operating earnings of around $1.4 million. The revenues from the Developed Properties were approximately $3.5 million, operating expenses for leases including property taxes were about $1.9 million while development costs were about $157,000. The average realized price of properties that were Developed Properties was $86.73 per Boe in the current month and $88.64 in October 2022. Boe for October 20, 2022. The prices of oil in the last few months have maintained their elevated levels well above levels in 2020 and 2021 and were even more so than they were in The Current Month as compared to November 2021. The net profit deficit for Developed Properties declined approximately $1.1 million to $5.6 million during the Current Month versus approximately $6.7 million in the preceding month.

Revenues

Since the revenues of the Remaining Properties during the month of August 2022 was sufficient to cover the remaining net profits deficit of those Remaining Properties, the Trust was able to earn profits from the net profit of 25% interest instead of the 7.5 overriding royalty rate of 7.5 percent in accordance with the Conveyance. The remaining properties’ revenue comprised $1.7 million, and lease operating costs, which include property taxes of approximately $732,000. The average realized price for the remaining properties was $84.30 for each Boe for November in contrast with $86.56 for each Boe during October. The net profit interest on the remaining properties during November was about $240,000.

A monthly operational and service fee of around $100,000 that is payable to PCEC along with Trust General and Administrative costs around $106,000 as well as the repayment to PCEC of around $139,000 in accrued interest on the promissory notes between PCEC and the Trust Trust and PCEC Together, they over the amount of $240,000 that PCEC received from PCEC via the 25 percent net profit interest earned on the remaining properties which resulted in a deficit of about $106,000.

Pacific Coast Oil Trust Returns in comparison to. S&P