Royale and CRPC Make a New Discovery in the Rio Vista Field
January 09 2019 - 11:32AM
Royale Energy, Inc., (OTCQB : ROYL) announced
today that production casing was set on the recently drilled RVGU
#33-1 well in the Rio Vista Field in partnership with California
Resources Production Corporation (CRPC). The open hole logs
indicate 174 net ft. of probable gas zones and 37 net ft. of
possible gas zones. We anticipate testing the well within the
next five to ten days.
“We are excited that the first well drilled under the new Joint
Venture with CRPC appears to be a strong gas well,” said Johnny
Jordan, Chief Executive Officer. “This first well is a good
indicator of the potential of the new prospects we have identified
in the Rio Vista Field.” The RVGU #33-1 is the first of the
30 wells Royale intends to drill under our three-year Joint Venture
arrangement with California Resources Production Corporation in the
Rio Vista Field.
The Rio Vista Field is the largest natural gas field in
California. It was discovered in 1936 and has produced
approximately 4 trillion cubic ft. from more than 15 stacked
natural gas reservoirs.
About Royale Energy. Inc. Royale Energy, Inc.
(OTCQB: ROYL) is an independent exploration and production company
focused on the acquisition, development, and marketing of oil and
natural gas. The Company has its primary operations in California’s
Los Angeles and Sacramento Basins.
Forward-Looking Statement 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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