Pacific Coast Oil Trust announced that there will be no cash distribution to the holders of its units of beneficial interest of record on February 28, 2023 based on the Trust's calculation of net profits generated during December 2022 (the "Current Month") as provided in the conveyance of net profits interests and overriding royalty interest (the "Conveyance"). Given the Trust's receipt of insufficient monthly income from its net profits interests and overriding royalty interest during 2020 and 2021, the Trust had been expected to terminate by its terms at the end of 2021; however, a court had issued a temporary restraining order enjoining the dissolution of the Trust until an arbitration tribunal could rule on the plaintiff's request for injunctive relief.