ROYL - Royale Energy Message Board

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Gold/Mining/Energy : ROYL - Royale Energy

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To: Mark Adams who wrote (137)	6/3/1999 8:22:00 AM
From: Ed Ajootian	Read Replies (1) of 141

C.K. COOPER & COMPANY MAINTAINS ROYALE ENERGY (NASDAQ: ROYL) AT LONG-TERM: STRONG-BUY, SHORT-TERM STRONG-BUY. 8 PAGE REPORT RELEASED. May 28, 1999 - Irvine, California - C. K. Cooper & Company today released an 8 page research report on Royale Energy (NASDAQ: ROYL). In this report, C. K. Cooper raised maintained its Long-Term rating at Strong-Buy and its Short-Term rating at Strong-Buy. 1999 estimates call for earnings of $0.40 per share and cash flow of $0.93 per share. A goal price based upon 1999 estimates of $6.50 per share was placed on the issue. "We continue to feel very comfortable about the future of Royale Energy. With the Company recently starting certain activities in the Gulf Coast, we believe that the rate of growth at Royale could increase. Taking these factors in consideration, we continue to rate Royale at our highest level" commented Alex Montano. For more information, please contact: Annagene E. Montano Director of Communications C. K. Cooper & Company Telephone: (949) 477-9300 ext. 15 18500 Von Karman Avenue, Suite 560 Facsimile: (949) 477-9211 Irvine, California 92612 E-Mail: aemontano@ckcooper.com C. K. Cooper & Company is an investment banking boutique that specializes in the energy sector with an emphasis on exploration and production companies. ******************************************************************** I believe the trend toward negative working capital was just a function of low commodity prices for the last half year or so. This problem should get solved now that they have higher gas prices and more production coming on line from the recently completed wells. If they really want to get in on the great deals out there in the Gulf Coast they had better act pretty fast because the window of opportunity is about to close IMO. Any company that has been able to survive this long will not likely need to seek Royale's funds to drill out their wells at this point -- they would have other sources on more favorable terms.

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