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Pacific Coast Oil Trust Announces Closing Of Initial Public Offering Of Trust Units

Pacific Coast Oil Trust (the “Trust”) announced today the closing of its initial public offering of 18,500,000 trust units at $20.00 per trust unit. The 18,500,000 trust units represent a 47.9% beneficial interest in the Trust. The underwriters also have a 30-day option to purchase up to an additional 2,775,000 trust units at the initial offering price. Pacific Coast Energy Company LP, the sponsor of the Trust, sold the trust units being offered at the closing of the initial public offering, and will sell any additional trust units upon exercise of the over-allotment option, if any. The trust units trade on the New York Stock Exchange under the symbol “ROYT.”

Barclays, Citigroup, BofA Merrill Lynch, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities are acting as joint book-running managers of this offering. RBC Capital Markets, Baird, Stifel Nicolaus Weisel, Oppenheimer & Co., and Janney Montgomery Scott are acting as co-managers. The offering of the trust units was made only by means of a prospectus, copies of which may be obtained from the offices of:

   

Barclays

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Phone: 888-603-5847

barclaysprospectus@broadridge.com

Citigroup

Attn: Prospectus Department

Brooklyn Army Terminal

140 58th Street, 8th Floor

Brooklyn, New York 11220

Phone: 800-831-9146

batprospectusdept@citi.com

 

BofA Merrill Lynch

Attn: Prospectus Department

4 World Financial Center

New York, New York 10080

dg.prospectus_requests@baml.com

J.P. Morgan

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Phone: 866-803-9204

 
UBS Investment Bank

Attn: Prospectus Department

299 Park Avenue

New York, NY 10171

888-827-7275

Wells Fargo Securities

Attn: Equity Syndicate Dept.

375 Park Avenue

New York, New York 10152

Phone: 800-326-5897

cmclientsupport@wellsfargo.com

 

A registration statement relating to the trust units has been declared effective by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

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