Royale Energy, Inc. (NASDAQ:ROYL) today released the test results
of the Goddard 7-1. On Oct 15 the company announced a new field
discovery near its successful Lonestar field. This week’s completion
activities resulted in a stabilized flow rate of 2,450 MCF per day on a
restricted choke. Based on these results the well is capable of
significantly higher producing rates, and the company expects to begin
production at an initial rate of 2,500 MCF per day.
The first follow up to the Goddard discovery began drilling Oct 28. The
Wylie #1 will test a similar nearby 3D seismic amplitude anomaly. Royale
Energy will drill additional follow up wells by the end of this year.
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.
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