Royale Tests Somerset Well at Over 1 Million Cubic Feet Per Day
Builds on Legacy in Sacramento Basin
SAN DIEGO, Sept. 9, 2013 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL)
today announced another successful discovery well. The Royale Somerset well
intersected the productive zone confirming the target predicted by 3D seismic
analysis. Logs indicate the presence of a gas charged, fine grained sand
reservoir that correlates to the strong seismic amplitude response.
The well tested at a rate of 1196 MCFD on a 12/64^th choke. Close proximity to
Royale's existing gathering system will allow the well to be connected to a
sales line within days, to take advantage of the PG&E Citygate gas prices
holding in the $4 per MCF range. The pipeline is in place as a result of the
Dorset discovery that went into production earlier this year.
Royale is currently scheduled to drill an additional four or more wells in the
fourth quarter. Three wells, including Emerald Ridge will be located in
California's Sacramento basin and at least one well will be located in Andrews
County, Permian Basin.
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
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