On October 17, 2022, The Bank of New York Trust Company, as trustee of Pacific Coast Oil Trust has received Shipyard Capital Management LLC and Cedar Creek Partners LLC's letter dated October 11, 2022 that, among other things, demands that the Trustee ‘announce action' against Pacific Coast Energy Company or face possible removal as the trustee of the Trust at a meeting of Trust unitholders. The Company stated that the Trustee respectfully declines to pursue any claims against the Company at this time.