Pacific Coast Oil Trust: no May distribution, $13.7M owed to PCEC, dissolution pending litigation

Pacific Coast Oil Trust

No cash distribution for May 2026 (March net profits); future distributions 'extremely remote'.
Cumulative net profits deficit $11.7M (Developed) and $65K (Remaining); Trust owes PCEC $13.7M.
Derivative lawsuit filed May 20, 2026 against Trustee alleging breach of fiduciary duty over ARO deductions.
Dissolution triggered (cash proceeds <$2M in 2020/2021) but delayed by ongoing Evergreen/PCEC arbitrations.
Average realized price $84.94/Boe (March) vs $53.14 (Feb) for Developed Properties.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Pacific Coast Oil Trust reported March 2026 results: revenue approximately $3.0 million.

Period: March 2026
Revenue: approximately $3.0 million
Result: reported results

Exact text from the filing

distribution calculation for the Developed Properties reflected operating income of approximately $1,047,000, as revenues from the Developed Properties were approximately $3.0 million, lease operating expenses including production taxes were approximately $1.9 million, and development costs were approximately $1,000. The average realized price for the

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Source: SEC EDGAR

accession 0001104659-26-068279

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