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:


c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Phone: 888-603-5847


Attn: Prospectus Department

Brooklyn Army Terminal

140 58th Street, 8th Floor

Brooklyn, New York 11220

Phone: 800-831-9146

BofA Merrill Lynch

Attn: Prospectus Department

4 World Financial Center

New York, New York 10080

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


Wells Fargo Securities

Attn: Equity Syndicate Dept.

375 Park Avenue

New York, New York 10152

Phone: 800-326-5897

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.

About Pacific Coast Oil Trust

Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own net profits interests and an overriding royalty interest in certain oil and gas properties held by PCEC located in California in the Santa Maria Basin and the Los Angeles Basin.

About Pacific Coast Energy Company

PCEC, formerly named BreitBurn Energy Company L.P., is a privately held Delaware limited partnership engaged in the production and development of oil and natural gas from the Orcutt properties located in the Santa Maria Basin and the East Coyote, Sawtelle, and West Pico properties located in the Los Angeles Basin in California.

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