Royale to Expand 3D Seismic Inventory
SAN DIEGO, Nov. 2, 2011 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq: ROYL) has received regulatory approval for a new proprietary 3D seismic survey to extend the area of its recent discoveries. This 25 mile acquisition adds to the North Arbuckle data that resulted in the Goddard wells that have produced over 1.8BCF to date, and the deeper Magnum well. These wells have contributed to the recent surge in Royale's natural gas production and cash-flow.
This success and the information it has provided will enable the exploration team to use the new data to generate future drilling prospects. Royale plans to continue drilling in this expanded area for the next several years.
"This data will provide at least 3 years of new drilling," said Stephen Hosmer, "and lead to additional discoveries of this valued commodity."
Operations will begin February 2012.
About the Company
Headquartered in San Diego, Royale Energy, Inc. is an independent energy company. The company is focused on development, acquisition, exploration, and production of natural gas and oil in California, Texas and the Rocky Mountains. It has been a leading independent producer of oil and natural gas for over 20 years. The company's strength is continually reaffirmed by investors who participate in funding over 50% of the company's new projects. Additional information about Royale Energy, Inc. is available on its web site at www.royl.com.
Forward Looking Statements
In addition to historical information contained herein, this news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company's actual results to differ materially from those in the "forward-looking" statements. While the company believes its forward looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company's control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.