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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Royale Energy Inc (QB) | USOTC:ROYL | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0451 | 0.045 | 0.069 | 0.00 | 21:00:02 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
| | | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
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(Address of Principal Executive Offices) | (Zip Code) |
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On October 4, 2023, Royale Energy, Inc. issued a news release announcing the initial production rates of the first two wells drilled along with a status update on the next two wells drilled on its Joint Development Agreement with Ares Energy LTD in Ector County, Texas in the Permian Basin. The news release is furnished as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the foregoing information, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, or shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
99.1 News Release dated October 4, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 4, 2023
ROYALE ENERGY, INC. |
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By: |
/s/ Johnny Jordan |
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Johnny Jordan |
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Chief Executive Officer |
Exhibit 99.1
ROYALE ANNOUNCES OPERATIONS UPDATE ON THE PERMIAN BASIN JOINT DEVELOPMENT AGREEMENT
Royale Announces an initial rate of 1,347 BOPD and 1,649 MCFD
October 4, 2023 -- San Diego, California – Royale Energy, Inc. (OTCQB: ROYL) is pleased to announce new progress on its Joint Development Agreement (JDA) with Ares Energy LTD, located in the Permian Basin, Texas. This project is a horizontal resource play in the Mississippian interval. Royale and its investors have a 5% Working Interest in the first 2 wells drilled and 7% Working Interest in the third and fourth wells drilled on the 6,900 net acres project located in Ector County, Texas.
OPERATIONS
To date there have been four wells drilled on this acreage. The first well that was completed in March 2023 demonstrated an initial production rate of 818 BOPD & 1,100 MCFD with expected reserves exceeding 1,400,000 barrels of oil equivalent.
The second well was completed in August 2023, and has demonstrated an initial rate of 1,347 BOPD & 1,649 MCFD with expected reserves exceeding 1,500,000 barrels of oil equivalent.
The third and fourth wells have been drilled and are currently being completed with production expected to begin in early October 2023.
As used in this press release, “BOPD” means barrels of oil per day, “MCFD” means thousand cubic feet per day.
FORECAST
We anticipate drilling one more well in 2023 and 3 to 6 more wells in 2024 on this project.
ABOUT ROYALE ENERGY, INC.
Royale Energy, Inc. (OTCQB: ROYL) is an independent exploration and production company based in San Diego, California, focused on the acquisition, development, and marketing of oil and natural gas. The Company has its primary operations in California’s Los Angeles Basin and Texas’s Permian Basin.
FORWARD-LOOKING STATEMENT
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
Mark Larson – Public Relations & Media
619-383-6600 marklarsonmedia@gmail.com
Document And Entity Information |
Oct. 04, 2023 |
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Document Information Line Items | |
Entity Registrant Name | Royale Energy, Inc. |
Document Type | 8-K |
Amendment Flag | false |
Entity Central Index Key | 0001694617 |
Document Period End Date | Oct. 04, 2023 |
Entity Emerging Growth Company | false |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 000-55912 |
Entity Tax Identification Number | 81-4596368 |
Entity Address, Address Line One | 1530 Hilton Head Road, Suite 205 |
Entity Address, City or Town | El Cajon |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92019 |
City Area Code | (619) |
Local Phone Number | 383-6600 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | None |
No Trading Symbol Flag | true |
Security Exchange Name | NONE |
1 Year Royale Energy (QB) Chart |
1 Month Royale Energy (QB) Chart |
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