Tallahassee, FL 11/23/11 (StreetBeat) --Royale Energy, Inc. (Nasdaq:ROYL) has made two more natural gas discoveries in its core area. The Royale Jewel has been drilled to its total depth. The well is in close proximity to Royale's production facilities and will begin selling gas in two weeks. Three separate Forbes sands were encountered and the deepest zone has been completed with a stabilized production rate of 3,000,000 cubic ft. of natural gas per day. Last year the company began producing its Goddard wells 3/4's of a mile to the north. The Goddard wells have already produced over 2 billion cubic ft. of natural gas to date.The Royale Bristol was drilled to a total depth of 6,800 ft. and found 40 ft. of Forbes filled natural gas sands. Production casing has been set and the well has a bottom hole shut in pressure of 2,200 psi.
The company has also continued its workover program by recompleting another existing well. The Parks well is now producing from a shallower zone at a stabilized rate of 190,000 cubic ft. per day.
These new discoveries are a confirmation of the significance of Royale's recently approved new 3D seismic survey. The company will be shooting a 25 square mile 3D seismic survey to expand its prospect and production area to the northwest. They are also a very positive step in the company's continuing success of replacing and growing its natural gas reserves.
About the Company
Headquartered in San Diego, Royale Energy, Inc. is an independent energy company. The company is focused on development, acquisition, exploration, and production of natural gas and oil in California, Texas and the Rocky Mountains. It has been a leading independent producer of oil and natural gas for over 20 years. The company's strength is continually reaffirmed by investors who participate in funding over 50% of the company's new projects. Additional information about Royale Energy, Inc. is available on its web site at www.royl.com.
StreetBeat Disclaimer
No comments:
Post a Comment