ROYL - Royale Energy Message Board

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Gold/Mining/Energy : ROYL - Royale Energy

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To: Rooster Cogburn who wrote (35)	6/5/1997 11:42:00 PM
From: Wayne Olive	of 141

Rooster, Royale E has acquired some outstanding production and drilling prospects with this news release... take a look! Wednesday June 4 9:32 AM EDT Company Press Release Royale Energy Inc. acquires natural gas production and exploration acreage SAN DIEGO--(BUSINESS WIRE)--June 4, 1997--Royale Energy Inc. (NASDAQ/NM:ROYL) Wednesday announced the purchase of all of the California natural gas production and assets of a privately held Texas operator. Royale acquired ownership interests in three fields in Solano County, Calif., and a fourth field in Tehama County, Calif. The package of properties includes five producing wells in the Lindsey Slough Field; six producing gas wells in the Rice Creek East Field; and three producing gas wells in the Rio Vista Field. In addition, overriding royalty interests in each of the producing wells were acquired. Royale currently has production in all of these fields, making it an excellent fit to the company's development plans. Along with the production and natural gas reserves of more than 3 billion cubit feet, significant opportunity exists for the development of proved undeveloped reserves on 10,000 acres. The company plans to utilize 3-D seismic to fully develop the properties. The purchase price of more than $3 million increases the company's assets by 30 percent to more than $10 million. The production from these wells will increase the company's overall revenues from the sale of natural gas.

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