ENERGY RECRUITS BENNETT Z. SPEVACK FOR POSITION OF CHIEF EXPLORATIONIST
SAN DIEGO--March 24, 1999--Royale Energy Inc. (Nasdaq National
Market - ROYL ) is proud
to announce expansion of its technical personnel.
Royale Energy has recruited Bennett Z. Spevack to assume the position
of Chief Explorationist.
Spevack comes to Royale Energy with almost 20 years of successful
exploration experience at Amoco Production Company. For the past
10 years, as Exploration Manager, Spevack has directed exploration
programs in California, the Gulf of Mexico, Alaska, and internationally.
These efforts led to a number of commercial discoveries including
leading Amoco to participate in the Gulf of Mexico's first sub-salt
discovery Mahogany. They covered a diverse range of activities including
OCS (the Federal off shore) sale efforts, the Arctic and deep-water
well operations, and seismic interpretation evaluations of large
(500,000 acre) 3D programs.
Spevack brings with him an extensive knowledge of state-of-the-art
seismic technology, such as, 3D AVO, pre-stack depth migration,
and seismic attribute analysis, as well as, the practical applicability
of this technology to successful oil and gas exploration.
As a Geophysical Interpreter, Spevack worked primarily in the
Western U.S. including projects in California, Alaska, Washington,
and Oregon. He helped to pioneer the use of workstations and seismic
stratigraphy at Amoco.
Spevack holds an MA in geology from State University of New York
in Binghamton, NY. Spevack saw the BP-Amoco merger as an opportunity
for him to move to a growth oriented company where he would be able
to expand the utilization of his prospect generating capabilities
and contribute directly to the success of Royale's bottom line.
Spevack is excited about the current exploration and production
programs at Royale Energy. The company is looking forward to Spevack's
eagerness to contribute to making Royale Energy's future exploration
efforts and production programs a success.
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.