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Royal Petroleum Corporation Enters Into Letter of Intent (LOI) With Lucre Oil &Amp; Gas to Acquire Boyd Lease Properties

Posted on: Wednesday, 4 June 2008, 21:00 CDT

Royal Petroleum Corp. (PINKSHEETS: RYLP) (GR: GR) -- Company president and CEO Edward Fitzgerald is pleased to announce that the company has entered into a Letter of Intent (L.O.I.) agreement with Lucre Oil & Gas Producers for the acquisition of the Boyd Lease Properties located in Oklahoma. The Boyd lease properties have approximately 700 acres with 4 producing wells. The properties have additional drill sites with abundant gas producing formations such as the Summit, Bluejacket, Rowe and Mississippi. The wells are typically shallow from 300 to 1200 feet. A geologist has verbally placed reserves in excess of one billion cubic feet. The company, as per the agreement, would agree to drill a minimum of two new wells in efforts to increase the cubic feet of methane coal production per day. The L.O.I. also provides an option for Royal Petroleum Corp. to purchase additional oil properties from the Bartlesville and Mississippi sand formations. Royal Petroleum Corp. intends to complete the acquisition with 4 equal installments. Please visit our website for updates at www.royalpetro.com

www.royalpetro.com

About Royal Petroleum Corp.

At Royal Petroleum Corp. our focus is on the acquisition of existing oil and gas wells, bringing them back into production for re-sale by using the latest technologies available. We strive to continually fulfill the energy requirements of tomorrow by partnering with various organizations and individuals committed to the exploration, development, and production of our domestically-abundant natural resources, with a primary focus on crude oil and natural gas. We believe the fundamentals favor crude oil and natural gas as dominant commodities for the foreseeable future and it is absolutely necessary to look to our domestic sources for our energy needs in the future.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Edward Fitzgerald, President

Royal Petroleum Corp.

 Corporate Relation Inquiries Contact: 613-767-0885  

SOURCE: Royal Petroleum Corp.

Source: MARKET WIRE

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