Roy, More good news from Royale E.. second quarter earnings are up!
Royale keeps pumping on all cylinders. It is looking good for the coming year. Their earnings report follows and speaks for itself.
Wayne
Tuesday August 12 9:28 AM EDT
Company Press Release
Royale Energy Inc. Sets Record Second Quarter Earnings
SAN DIEGO--(BUSINESS WIRE)--Aug. 12, 1997--Royale Energy Inc. (NASDAQ/NMS:ROYL) Tuesday said net income rose to $448,332 for second quarter 1997 from $382,653 for second quarter 1996, up 17.2 percent, for 11 cents per share second quarter earnings.
Shareholder equity increased to $4,995,994 for the period ending June 30, 1997, compared with $3,524,219 shareholder equity at June 30, 1996, up 41.8 percent.
Contributing to the increased earnings was an increase in natural-gas production from the completion of newly drilled wells and newly acquired production.
The company drilled four new wells in the second quarter and expects to drill an additional nine wells this calender year.
On June 1 the company completed the acquisition of 12 producing wells in the Sacramento basin. These wells add to company production as well as offering additional developmental acreage for future company drilling.
The company expects to continue its growth in reserves, production and earnings throughout 1997. |
