June 28, 2018 — San Diego, California \u2013 Royale Energy, Inc., (OTCQB : ROYL)<\/strong> announced today it
\nhas entered into a Letter of Intent with a major company to purchase it\u2019s non-operated interests in
\nPermian Basin and California oil fields.<\/p>\nThe acquisition will add approximately 190 barrels of oil per day (BOED) net and 3 million barrels of oil
\nequivalent in reserves for an acquisition price of $12 million dollars. Royale will be acquiring the total
\nproved reserves for $4.00 per barrel of oil equivalent in the ground (this includes both oil and natural gas
\nreserves). The reserves are oil weighted at 91 percent and include the Jameson North field in Texas where
\n3D seismic has identified proved but undeveloped locations (PUDs) that can be drilled. The California
\nfield is situated near the Sansinena oil field where Royale has a joint venture with RMX Resources.
\nRoyale is pleased to announce this key execution of its growth plans. These assets combined with the
\nsuccessful funding of the new joint venture development company, RMX Resources, will continue to
\npropel Royale growth.<\/p>\n
Royale\u2019s new CEO Rod Eson stated, \u201cI\u2019m excited about Royale\u2019s combined inventory of assets,
\nacquisition targets and strategic relationships. This current acquisition will boost Royale into an improved
\ncompany financial condition and is a perfect recipe for further success.\u201d<\/p>\n
The acquisition effort is being led by Johnny Jordan, President and COO of Royale, who is continuing to
\nfocus on acquiring, developing and executing on the company\u2019s exploration and production activities. A
\nkey element to this acquisition is managements familiarity within these properties.<\/p>\n
Stephen Hosmer, Chief Financial Officer of Royale stated, \u201cas we work to complete this acquisition,
\nhopefully to close in the third quarter of this year, we will succeed in another important step towards
\npositioning the company for a return to a robust financial position.\u201d<\/p>\n
Royale is in discussion on key documents and pending the successful closing of the transaction, will
\nannounce additional details on the location of the assets and plans for development.<\/p>\n
About Royale Energy. Inc.<\/strong>
\nRoyale Energy, Inc. (OTCQB: ROYL) is a growth oriented independent exploration and production company focused on the acquisition, development, and marketing of oil and natural gas. The Company has its primary operations in California\u2019s Los Angeles and Sacramento Basins.<\/p>\nForward-Looking Statement<\/strong>
\nIn addition to historical information contained herein, this news release contains \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company\u2019s actual results to differ materially from those in the \u201cforward-looking\u201d 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\u2019s control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.<\/p>\nContact:<\/strong>
\nRoyale Energy, Inc.
\nChanda Idano
\nDirector of Marketing & PR
\n619-383-6600
\nchanda@royl.com
\nhttp:\/\/www.royl.com\/T1<\/a><\/p>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"
[et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.5.1″] ROYALE ACQUIRES MORE OIL IN THE PERMIAN BASIN AND CALIFORNIA READ PRESS RELEASE June 28, 2018 — San Diego, California \u2013 Royale Energy, Inc., (OTCQB : ROYL) announced today it has entered into a Letter of Intent with a major company to purchase it\u2019s non-operated interests in Permian Basin and California […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","spay_email":"","_links_to":"","_links_to_target":""},"categories":[5],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/posts\/1142"}],"collection":[{"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/comments?post=1142"}],"version-history":[{"count":3,"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/posts\/1142\/revisions"}],"predecessor-version":[{"id":1145,"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/posts\/1142\/revisions\/1145"}],"wp:attachment":[{"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/media?parent=1142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/categories?post=1142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.royl.com\/T1\/wp-json\/wp\/v2\/tags?post=1142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}