Royale Completes Cardiff Well Flowing 1.78 Million Cubic Feet Per Day
SAN DIEGO, Dec. 19, 2013 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL)
today announced that it has completed its latest Sacramento basin natural gas
well with a successful stabilized flow rate of 1.78 million cubic feet per
day. The Cardiff well was drilled in Colusa County, California on the
company's proprietary 3-D (3 dimensional) seismic survey. The Cardiff well is
the ninth well of the year and tested an amplitude anomaly indicating gas in
the Forbes formation. Royale expects to connect the well to its existing
pipeline infrastructure in the area to begin commercial gas sales in early
January at an initial sales rate of 1,000,000 cubic feet per day.
In addition, the company expects its Memento well to begin gas sales on Monday
Royale also spud the first of two oil wells in Fuhrman-Mascho field in Andrews
County, TX, in which the company sold a portion of its interest to the company
that is drilling the wells. The Fuhrman-Mascho field is the fifth largest
producing oil field in the Permian basin. Up to 8 wells may be drilled on this
Victor Ranch 3-21 is scheduled to being drilling the first quarter 2014
followed by the McKinney and Wembley wells, all located in Sacramento 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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