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Gold/Mining/Energy : ROYL - Royale Energy

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To: Roy Chiesa who wrote (102)2/19/1998 9:31:00 AM
From: Wayne Olive  Read Replies (1) of 141
 
Roy... I think the Bixler Field is the key.. From their press release, here's all the detail I know.

Wayne

SAN DIEGO--(BUSINESS WIRE)--Feb. 2, 1998--Royale Energy (NASDAQ:ROYL - news), connected its Bloomfield 1A well on Jan. 30, 1998, with an initial production rate of 10,000,000 cubic feet per day (10,000 mcf/d) being sold to Tosco at $2.16 per mcf.

The well was drilled in early January and completed on Jan. 24, 1998. Approximately 50 feet of good quality 4th Massive gas sands were encountered. Stable test rates between 2,000 and 5,000 mcf/d with minimal draw down indicated a large flow potential. 2900+ psi pressure was measured indicating a virgin reservoir.

The Bloomfield 1A is a new gas pool discovery adjacent to the Bloomfield 1-11, the BIXLER FIELD discovery well, that was named well of the year in 1993 by Oil and Gas World.
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