Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Tommaso who wrote (79787)	11/22/2000 3:40:40 PM
From: Wowzer	Read Replies (2) of 95453

I know little ol ROYL does: You would never know it by its price action lately though.... Taken from their 8/00 press release: Don Hosmer, President of Royale Energy commented; "We are currently experiencing record natural gas prices in California. Our September natural gas is being sold at $6.55 per mcf. We are taking advantage of the current strength in commodity prices and the resulting cash flow generated to increase our capital expenditures and drilling schedule through the remainder of the year." He further commented; "Our recent success in our Victor Ranch/East Rice Creek Field has validated our exploration strategy, and the investment that we made into the seismic data in 1998 and 1999. We plan to increase our oil reserves through some of our recent activities and continue to explore options to increase our rates of growth including potential acquisitions and exploration projects." royl.com royl.com

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