Pacific Coast Oil Trust (NYSE: ROYT), a perpetual royalty trust formed by Pacific Coast Energy Co. LP (PCEC), has confirmed that the Trust is in compliance with the New York Stock Exchange’s continued listing requirements, including the requirement for a minimum trading price.
On Feb. 25, the Trust received notification from the NYSE that the Trust was not in compliance with the continued listing standard, which requires a minimum average closing price of $1 per share over a consecutive 30-day trading period.
On April 1, the NYSE notified the Trust that it had regained compliance with the NYSE’s minimum closing price requirement after the closing price of the Trust’s units on March 31 and the average closing price of the Trust’s units for the 30 days of trading that ended on March 31 were both at least $1. Accordingly, the NYSE will remove the “.BC” indicator from the Trust’s stock symbol.
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.