• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Royale Energy Continues to Grow Its Natural Gas Production in 2008

Posted on: Monday, 5 May 2008, 15:00 CDT

Royale Energy, Inc. (NASDAQ:ROYL) has put four more natural gas wells into production.

After nearly a 20% jump in production during March 2008 from February 2008 from new gas sales at Andrus Island and Tyler Island wells, the Company activated four more wells in April.

Improved weather allowed the company to put the V Canyon 20-1 and Moon Canyon #2 wells in Utah's Uintah Basin back into production at the end of April.

In California, the Gobel well went into production April 1st at a rate of 700 MCF per day.

In addition, a Forbes well in the Sacramento basin was recompleted and put back into production April 15 at a rate of 600 MCF per day. The Company owns 100% of the working interest.

The PG&E city gate price for natural gas sales reached $11.05 per MCF by April 29, 2008. All of Royale Energy's California and Utah production is sold on a daily cash price and remains un-hedged.

"Royale Energy is pleased to continue its increase in monthly production in 2008. In 2007, we sold off some of our older producing wells, and with that capital we reinvested in our core areas and are producing stronger natural gas wells at a much higher price than in 2007," said Donald Hosmer, Royale Energy CEO.

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.

Source: Business Wire

More News in this Category