I still like Royale (ROYL), but it also got whacked when ng prices declined.
>>Royale Energy (ROYL: news, chart, profile) advanced almost 27 percent after the San Diego-based oil and natural gas firm reported earnings of $3.7 million, or 84 cents a share, for 2001, up from its profit of $3.1 million, or 68 cents a share, in 2000. Revenue rose 35.7 percent in the latest three months to $15.9 million from $11.7 million in the same period a year earlier. "The 2001 increase in oil and gas sales of 36.5 percent shows growth in exploration and production operations that has continued into the first quarter of 2002 with a 30 percent increase in production from year end 2001," said Stephen Hosmer, the company's chief financial officer, in a press release. Royale added that it should be able to maintain or increase earnings in 2002, and that "strong fundamentals for natural gas, along with the company's increased inventory of oil prospects, should provide stronger growth for the future."<<
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