Shipyard Capital Management LLC Sent A Letter To The Board Of Directors Of Pacific Coast Oil Trust

The Bank of New York Mellon Trust Company, N.A.

Trustee for Pacific Coast Oil Trust

601 Travis, Floor 16

Houston, Texas 77002

Attn: Ms. Sarah Newell

Vice President

Dear Ms. Newell,

Shipyard Capital and Eriksen Capital write as owners of—collectively—11.4% of Pacific Coast Oil Trust. Our $10M market capitalization Trust is currently generating $20M per year in …