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Pacific Coast Oil Trust Announces January Cash Distribution

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 $0.13941 per unit, payable on January 15, 2013, to unitholders of record on December 31, 2012. The Trust’s distribution relates to net profits and overriding royalties generated during November 2012 as provided in the conveyance of net profits and overriding royalty interest.

This month’s distribution is lower than the previous month ($0.13941 per unit vs. $0.15228 per unit). Total realized prices were 4% lower than in the prior month, but were partially offset by 2% higher total production. The current month Trust administrative expenses deducted during the period were $0.1 million. The current net profits amount from the Developed Properties was approximately $5.4 million, after receipt by Pacific Coast Energy Company (“PCEC”) from its counterparties of $0.3 million related to the settlement of applicable hedge contracts. The development expense for the Developed Properties was $0.1 million during the period.

The current distribution also includes a 7.5% overriding royalty on the Remaining Properties which produced 20,620 Boe from 35 Orcutt Diatomite wells and one Orcutt Field well, which was approximately 21% 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.

The monthly operating and services fee payable to PCEC, totaling $0.1 million, was deducted in the calculation of the distribution payable to unit holders.

Timing of Future Press Releases Relating to Distribution Payment Dates and Record Dates

Beginning in January 2013, the Trust will be making its monthly distribution announcement and setting its monthly record date approximately four or five days later in the month than it has been in the past. This change is intended to accommodate PCEC’s monthly reporting cycle. This change will not in any way impact future distribution payment dates.

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