Royale Energy Reaches Development Agreement
October 08 2015 - 8:37AM
Royale Energy, Inc. (NASDAQ:ROYL) today announced
that it has reached an agreement, with a major independent
exploration and production company, to develop 1,300 acres in the
Sacramento Basin Grimes Field. This agreement allows Royale
to drill up to three wells targeting a 3D seismically defined
amplitude. The seismic event is clearly correlated to the
nearby productive natural gas horizon and shows a sizable target
with multiple well follow up potential.
Royale is pleased to enter into the first of what it believes to
be a series of development opportunities with an industry
participant of this caliber.
“I am excited to have the opportunity to establish a
relationship of this nature,” said Stephen Hosmer, “and look
forward to the reserve and production growth for both of our
companies.”
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.
Contact:
Royale Energy, Inc.
Chanda Idano
Director of Marketing & PR
619-383-6600
chanda@royl.com
http://www.royl.com
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