ROYL - Royale Energy Message Board

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Gold/Mining/Energy : ROYL - Royale Energy

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To: Wayne Olive who wrote (136)	8/14/1999 1:11:00 PM
From: Ed Ajootian	of 141

Wayne, Very disappointing 2nd quarter results -- a loss of $.02 per share for the first half. Not sure how the market will take this. They will have a lot better 3rd quarter obviously but there may be some who will use this as an excuse to dump & run. I figured this quarter would be weak but not this bad. I was thinking about buying more on the dip here but now I'm not so sure what to do. Can't see how they could possibly meet Montano's estimate of $.40/ share earnings for the year at this point. Can't see how they could get the line of credit increased very much at this point given the downward trend in cash flow. Without more funds this turkey is stuck dead in the water.

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