ROYL - Royale Energy Message Board

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Gold/Mining/Energy : ROYL - Royale Energy

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To: Jamey who wrote (13)	2/26/1997 10:01:00 PM
From: Todd Runge	of 141

James, This is an interesting little company. I think you are right in calling them undiscovered. They seem to have decent visability within the industry but not yet in the market. I think the lack of recent interest is explained by the industry group they are in. I found a Baseline profile for them which compared them to the industry and they are far outperforming the group which has actually trended down for the last couple of months. When earnings become valued again, this one should keep going. They might get picked up by an analyst or two pretty soon which will also help. One interesting thing I noted but couldn't find anything on was the reduction in shares outstanding over the last two years or so. They had in excess of 5,000,000 shares then. Didn't have time to look in EDGAR to see if there were any filing to explain. I could only find two institutions with total holdings of 3.56%. I wonder if the company has been retiring shares. Maybe the 10K or Q would have some info. I'll have to look further sometime. Nice looking chart though with good volume. Would expect it to be discovered soon unless the industry keeps trailing. Regards, Todd

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