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Gold/Mining/Energy : ROYL - Royale Energy -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (139)	7/14/1999 8:12:00 AM
From: Ed Ajootian	Respond to of 141

Royale Energy Announces Production of Louisiana Well SAN DIEGO--(BUSINESS WIRE)--July 12, 1999--Royale Energy Inc. (Nasdaq:ROYL - news) announces the sustained sales rate of the LL&E State Unit B No. 3 well. The well is currently selling 15.751 million cubic feet per day of natural gas and 1,123 barrels per day of oil. The Company acquired 6.66% interest in the well from 3DX Technologies, and others in 2nd quarter 1999, and subsequently drilled the well with Burlington Resources, Inc. (NYSE:BR - news). Following the success of this well the company has continued to expand its development activities into the Gulf Coast, as well as, increasing development activities in California's Sacramento Basin. In addition, to historical information contained herein, this news release contains ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995 subject to various risks and uncertainties that could cause the Company's actual results to differ materially from those in the ''forward-looking'' statements. While the Company believes its forward looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the Company's control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: Royale Energy Inc. Ania M. Moldzynska, 800/447-8505 ir@royl.com www.royl.com ******************************************************************** Extremely significant to a company with a $12 mm market cap. This one well is worth almost a buck a share to ROYL and the next one is targeting reserves that are probably worth at least triple that amount. About your comments on CHK, I believe that the key is whether a company can generate positive cash flows. As long as that remains the case it can avoid bankruptcy, even if its liabilities exceed its assets. Sorry for taking to long to respond to you.