NSAI Issues Report on Company's North Slope Shale Oil 386 Million Barrels in Alaska Acreage SAN DIEGO, Aug. 21, 2013 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL) today, in cooperation with Rampart Energy, is pleased to announce the results of a study performed by Netherland, Sewell & Associates, Inc. Worldwide Petroleum Consultants, (NSAI), www.netherlandsewell.com, to evaluate the prospective resources in their shale acreage on the North Slope of Alaska. Using available data from existing wellbore penetrations and analog shale plays, they determined that the acreage is a qualified Prospective Resource with an average recovery rate of 3,995 barrels of oil per acre from the combined shale intervals. Based upon estimated drilling density of 160 acres per well, this equates to 639,119 barrels of oil per well drilled. Total Original Oil in Place and Total Recovery per acre is divided between the three intervals as follows: OOIP Total (BBL/acre) EUR Total (BBL/acre) Low Best High Mean Low Best High Mean HRZ 2,723 13,255 35,174 16,635 123 578 1,775 809 Kingak 6,631 37,383 96,748 45,091 263 1,459 4,661 2,120 Shublik 4,934 16,327 35,298 18,747 246 899 2,037 1,066 Total 14,288 66,965 167,220 80,473 632 2,936 8,473 3,995 The report covers 96,882 acres including 39,539 acres that the companies have agreed to jointly develop (Western Block), 17,139 acres owned by Royale (Central Block) in which Rampart has future rights to acquire, and 40,204 acres (Eastern Block) owned exclusively by Royale.The table below represents the total Estimated Ultimate Recovery (EUR) from the combined acreage: EUR Total (MBBL) Area Gross Acres Low Best High Mean West 39,539 24,998 116,091 335,031 157,938 Central 17,139 10,836 50,322 145,226 68,462 East 40,204 25,418 118,044 340,665 160,595 Sub Total: 96,882 61,252 284,457 820,922 386,995 Preparation for a seismic survey has already begun with the field work on an archeological survey of the area. Final engagement of the contractor is expected imminently, and data is expected to be available by the second quarter of 2014. An image accompanying this release is available at http://media.globenewswire.com/cache/17632/file/21605.pdf. List of Definitions Original Oil-in-Place The quantity of petroleum estimated, as of a given (OOIP) date, to be contained within accumulations yet to be discovered. Those quantities of petroleum which are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future Prospective Resources development projects. Prospective Resources have both an associated chance of discovery and a chance of development; these figures are necessarily revised upward or downward as additional data becomes available. The oil resources shown include crude oil only.Oil Barrels of Oil volumes are expressed in barrels of oil (BBL) or thousands of barrels (MBBL); a barrel is equivalent to 42 United States gallons. 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. Forward Looking Statements 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. Chanda Idano, Director of Marketing & PR 619-881-2800 email@example.com http://www.royl.com
NSAI Issues Report on Company's North Slope Shale Oil
Press spacebar to pause and continue. Press esc to stop.