ROYTL - Cedar Creek Partners - Pacific Coast Oil Trust: Worst-Case Scenario Should Result In Higher Bid Prices

2024-05-08 11:20:00 ET

Summary

• Pacific Coast Oil Trust units decreased in value in the quarter and no progress has been made on audits for 2019-2023.
• The operator has withheld $35.1 million for asset retirement obligations, which could be credited to unitholders if the trust is dissolved and sold.
• The trust has generated approximately $8.9 million in distributable proceeds over the last twelve months, but the market cap is less than two years' worth of cash flows.

The following segment was excerpted from this fund letter.

Pacific Coast Oil Trust ( OTC:ROYTL )

Pacific Coast Oil Trust units decreased from $0.415 to $0.36 per unit in the quarter....

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