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Gold/Mining/Energy : ROYL - Royale Energy
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To: Peter Grandich who wrote (4)1/13/1997 10:04:00 PM
From: Wayne Olive   of 141
 
Peter, I am a Royale E stock investor and drilling program participant.
After following them for several years, I bit bullet, got into a drill
program last year, and twice bought stock. I'm really mad I didn't
back up the truck on this one.. great management and market (Calif),
as their customers are very close by, and they are getting great
prices. They sold their January production at 4.41! By comparison,
Oct '96 was 1.64, Nov was 2.64, and Dec was 3.54 give or take a few
pennies.

I think your $7 level is a given, as they will be coming out with very
nice earnings as prices pump up the bottom line. You have made a
great pick. They made it to 5.25-5.38 today.

Wayne Olive
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