Royale Today Announced that it has Completed the Acquisition of the N. Jameson and Big Mineral Creek Properties from West Coa...
December 10 2018 - 1:31PM
Royale Energy, Inc., (OTCQB : ROYL) announced that
it has completed the acquisition of the N. Jameson and Big Mineral
Creek properties in the Permian Basin in Texas, from West Coast
Energy
The N. Jameson property currently is producing
64 BOEPD adding $6 Million in PV10 value and 1P (total proved) net
reserves of 542,000 Barrels Oil Equivalent based on company
estimates. This property has 7,465 net acres in which more
than 30 proved undeveloped locations have been identified by 3D
Seismic in the Strawn, Odom and Ellenberger formations. This
transaction increases company working interest to 95% and adds
operational control. Royale intends to develop these
high-quality drilling locations with the continued help of it
drilling participants.
Johnny Jordan Royale’s President and COO states,
“this acquisition increases our proved undeveloped drilling
inventory to more the 75 high quality drilling locations across
Texas and California which insures Royale of several years of
significant and high-quality drilling activity.”
The Big Mineral Creek properties are
non-operated interests in 5 producing Units over 10,000
gross contiguous acres in Grayson County, Texas.
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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