Market Overview

Pacific Coast Oil Trust Announces March Cash Distribution

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PACIFIC COAST OIL TRUST (NYSE:ROYT) (the "Trust"), a perpetual royalty
trust formed by Pacific Coast Energy Company LP ("PCEC"), announced
today a cash distribution to the holders of its units of beneficial
interest of $0.00487 per unit, payable on March 17, 2017 to unitholders
of record on March 9, 2017. The Trust's distribution calculation relates
to net profits and overriding royalties generated during January 2017 as
provided in the conveyance of net profits and overriding royalty
interest.

The current month's calculation for the Developed Properties resulted in
$1.2 million of revenues less direct operating expenses and development
costs. The current month's revenues were $3.7 million, lease operating
expenses including property taxes were $2.4 million, and capital
expenditures were $117,000. Average realized prices for the Developed
Properties were $48.28 per Boe in January, as compared to $47.33 per Boe
in December. Net profits for the month of January for the Developed
Properties were $961,000.

The current month's calculation included $45,000 for the 7.5% overriding
royalty on the Remaining Properties from Orcutt Diatomite and Orcutt
Field. Average realized prices for the Remaining Properties were $46.59
per Boe in January, as compared to $44.58 per Boe in December. The
cumulative net profits deficit for the Remaining Properties, including
the 7.5% overriding royalty payments, decreased $15,000 and remains at
$2.0 million for January.

The current month's cash flow before repayment of amounts borrowed from
PCEC under the promissory note entered into in February 2016 was
$850,000, reflecting $961,000 in income from the Developed Properties
and $45,000 in income from the 7.5% overriding royalty on the Remaining
Properties partially offset by $88,000 for the monthly operating and
services fee payable to PCEC and $67,500 in Trust general and
administrative expenses. The Trust will use $663,000 out of the current
month's cash flow as repayment in full to PCEC in March 2017 of all
amounts outstanding under the promissory note. The net cash flow
available for distribution to the holders of its units of beneficial
interest is $188,000.

Sales Volumes and Prices

The following table displays PCEC's underlying sales volumes and average
prices for the month of January 2017:

     
Underlying Properties
Sales Volumes     Average Price
(Boe) (per Boe)
Developed Properties (a) 76,221 $ 48.28
Remaining Properties (b) 14,385 $ 46.59
 
(a) Crude oil sales represented 98% of sales volumes
(b) Crude oil sales represented 100% of sales volumes
 

Overview of Trust Structure

Pacific Coast Oil Trust is a perpetual Delaware statutory trust formed
by PCEC to own interests in certain oil and gas properties in the Santa
Maria Basin and the Los Angeles Basin in California (the "Underlying
Properties"). The Underlying Properties and the Trust's net profits and
royalty interests are described in the Trust's filings with the
Securities and Exchange Commission (the "SEC"). As described in the
Trust's filings with the SEC, the amount of any periodic distributions
is expected to fluctuate, depending on the proceeds received by the
Trust as a result of actual production volumes, oil and gas prices,
development expenses, and the amount and timing of the Trust's
administrative expenses, among other factors. For additional information
on the Trust, please visit www.pacificcoastoiltrust.com.

Cautionary Statement Regarding Forward-Looking
Information

This press release contains statements that are "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended. All statements contained in this press release,
other than statements of historical facts, are "forward-looking
statements" for purposes of these provisions. These forward-looking
statements include the amount and date of any anticipated distribution
to unitholders. The anticipated distribution is based, in part, on the
amount of cash received or expected to be received by the Trust from
PCEC with respect to the relevant period. Any differences in actual cash
receipts by the Trust could affect this distributable amount. Other
important factors that could cause actual results to differ materially
include expenses of the Trust and reserves for anticipated future
expenses. Statements made in this press release are qualified by the
cautionary statements made in this press release. Neither PCEC nor the
Trustee intends, and neither assumes any obligation, to update any of
the statements included in this press release. An investment in units
issued by Pacific Coast Oil Trust is subject to the risks described in
the Trust's Annual Report on Form 10-K for the year ended December 31,
2015 filed with the SEC on March 4, 2016, and if applicable, the Trust's
Quarterly Reports on Form 10-Q. The Trust's Annual Report on Form 10-K
and the Quarterly Reports on Form 10-Q reports are available over the
Internet at the SEC's website at http://www.sec.gov.

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