San Diego, August 1, 2014 \u2013 Royale Energy, Inc. (NASDAQ: ROYL), today, announced results for second quarter 2014, showing a Net Income of $237,394 or $0.02 per share for the three month ended June 30, 3014. For the six months ended June 30, 2014, Royale recorded a Net Loss of $529,711 or $(0.04) per share. Total Revenue for the six month ended June 30, 2014 increased by $784,836 or 71% from $1,113,034 in 2013 to $1,897,870 in 2014.<\/p>\n
Oil and Natural Gas Revenue, for the six months ended June 30, 2014, grew by 99%, from $787,996 in 2013 to $1,569,966 in 2014. The increased revenue is a result of improved production and price. Total Production increased 53% to 307,967 MCFE, while the average price rose 35% over a year ago to $5.03 per MCF. Royale continues to reduce General & Administrative expenses, decreasing it by 9% from $1,556,214 to $1,422,131 respectively.<\/p>\n
The company plans on drilling the McKinney well this month, the fourth well this year. Royale expects to drill five additional wells, bringing the total to nine for 2014.<\/p>\n
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Forward Looking Statements<\/p>\n
In addition to historical information contained herein, this news release contains \u201cforward-looking<\/p>\n
statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various<\/p>\n
risks and uncertainties that could cause the company\u2019s actual results to differ materially from those in the<\/p>\n
\u201cforward-looking\u201d statements. While the company believes its forward looking statements are based upon<\/p>\n
reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic<\/p>\n
and other conditions beyond the company\u2019s control. Investors are directed to consider such risks and other<\/p>\n
uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.<\/p>\n
Contact:<\/p>\n
Royale Energy, Inc.<\/p>\n
Chanda Idano, Director of Marketing & PR<\/p>\n
619-881-2800<\/p>\n