Pacific Coast Oil Trust in 13.5M-unit offering, -5.8% AH

|About: Pacific Coast Oil Trust (ROYT)|By:, SA News Editor

Pacific Coast Oil Trust (ROYT) -5.8% AH after announcing a public offering of 13.5M trust units by parent Pacific Coast Energy and other selling unitholders.

PCEC plans to use the net proceeds from the sale of its trust units to pay down debt; the trust will not sell any trust units and will not receive any proceeds.