Royale Completes Two North Jameson Wells

SAN DIEGO, June 09, 2020 (GLOBE NEWSWIRE) -- Royale Energy, Inc., (OTCQB : ROYL), an independent exploration and production company based in San Diego, California announces that it has completed and put into production two new vertical low cost oil wells in its North Jameson field in the Permian Basin in Nolan County, Texas.

The McCabe #61 was completed in the Strawn formation pumping at a rate of 106 barrels of oil per day, 40 MCF per day and no water. The well has 25 ft. of net oil pay.

The McCabe #62 has been completed in the Odom formation pumping at a rate of 110 barrels of oil per day. The Odom formation has 24 ft. of net oil pay.

McCabe #62 was drilled as an infill evaluation of the Odom and Strawn. The Strawn formation has 21 ft. of net oil pay and will remain behind pipe for a future completion. The well also encountered 27 ft. of possible oil net pay in the Canyon/Goen formations. 

Both wells were identified using the new 3D seismic survey covering all of Royale’s North Jameson Field. 

Two nearby PUD’s (proved undeveloped) locations in the Jameson field and one Sansinena oil well are currently being funded in the Royale Reserves II project. Accredited investors can call the company for the Royale Reserves II 506(c) Private Placement Memorandum and will be subject to verification as an accredited investor and other conditions.

The Whittier W-1 ST5 well in the West Whittier field has been put on pump and the rate has increased to 158 barrels of oil per day

Royale Energy owns 39.27% net revenue interest in the McCabe #61 and 42.67% net revenue interest in the McCabe #62 well.

Royale Energy owns approximately 29% net revenue interest in the W1-ST5.

Well Name	Initial Rate	Royale’s Net Revenue Interest
McCabe #61	106 BOPD / 40 MCFPD	39.27%

Well Name	Initial Rate	Royale’s Net Revenue Interest
McCabe #62	110 BOPD	42.67%

Well Name	Initial Rate	Royale’s Net Revenue Interest
Whittier W1-ST5	158 BOPD	29%

About Royale Energy. Inc.