Royale Energy Announces 2018 Annual Meeting of Shareholders and Nominees for Board of Directors
June 26 2018 - 12:08PM
Royale Energy, Inc., (OTCQB:ROYL) announced today
that the 2018 annual meeting of shareholders, or “Royale Annual
Meeting,” will be held on July 26, 2018 at 10:30 A.M., PDT, at
Hilton Los Angeles Airport, 5711 West Century Boulevard, Los
Angeles, California 90045. The proxy statement containing the
meeting details is available on the Royale’s website (ROYL.com) and
will be mailed to shareholders in the first week in July.
Royale is also pleased to announce the slate of
Directors that are presented for vote to serve for the one-year
terms beginning at the annual meeting. All candidates possess
extensive management experience in small to large, private and
public oil and gas companies. These candidates have the potential
to significantly propel the company toward its growth
objectives.
Jonathan Gregory is nominated for re-election to
the board. Mr. Gregory has served on our board since 2014 and was
Royale’s chief executive officer from September 10, 2015 until June
1, 2018. In addition to his continued service on Royale’s
board, Mr. Gregory is the chief executive officer of Royale’s
affiliate, RMX Resources, LLC, the developer of Royale’s operations
in the Los Angeles Basin’s Sansinena Field.
Johnny Jordan and Rod Eson were appointed to the
board in January 2018 in anticipation of the merger between Royale
and Matrix Oil Management Corporation which closed in March 2018.
They are nominated for election for full one-year terms. Mr. Jordan
currently serves as Royale’s chief operating officer, and Mr. Eson
is the current chief executive officer.
The remaining four nominees, listed below, are
qualified independent directors who each possess significant
operational, financial and technical experience in the oil and gas
industry.
Mel G. Riggs presently is affiliated with the
Clayton Williams family office. Mr. Riggs previously served as
President of Clayton Williams Energy, Inc. from March 2015 until
April 2017 when CWEI was acquired for $2.7 billion by Noble Energy,
Inc. Mr. Riggs is a certified public accountant and received a BBA
with a degree in accounting from Texas Tech University in 1977.
Tom Gladney, since 2006, has served as president of
privately held Bodog Resources, LLC, as a wholly owned private
entity which invests in oil and gas, water treatment oil field
services, and real estate. Mr. Gladney previously served as
executive vice president of Plains Exploration and Production
Company (PXP) where he helped increase proved reserves from 239
MMEB to more than 400 MMEB while directing various projects to
include integration of the merger of two large public companies,
work on development and exploration projects in the Gulf of Mexico
and on several key engineering projects.
Barry Lasker has served as founder and managing
partner of Baja Oil and Gas LLC, which is focused on exploration
projects using geology and geophysics in South Texas since 2017.
From January 2005 to January 2015, Mr. Lasker served as president
and CEO of Enhanced Oil Resources, Inc. (TSX Venture Exchange). Mr.
Lasker has 34 years of oil and gas experience with majors and small
public and private companies.
Robert Vogel is a Principal at Lucas Capital
Management, a registered investment advisor providing a full suite
of financial services to individuals and institutional clients. He
is a seasoned executive with extensive background in the energy
industry.
Harry E. Hosmer, Royale’s founder and chairman of
the board since its inception, is retiring from board membership
but will continue to serve in an advisory capacity as chairman of
the board emeritus. His sons, Donald H. Hosmer and Stephen M.
Hosmer, continue to serve in executive positions as president of
business development and chief financial officer, respectively.
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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