San Diego, June 24, 2014 \u2013 Royale Energy, Inc. (NASDAQ: ROYL) today announced the appointment of Jonathan Gregory as an independent director of the company, effective immediately.<\/p>\n
Mr. Gregory\u2019s appointment replaces the resignation for health reasons of long time board member George Watters. Mr. Watters joined the Royale Board in 1991 and has contributed a great deal of wisdom and industry experience for more than 20 years. The Board will remain at seven, four of whom are independent directors.<\/p>\n
Jonathan\u2019s over 25 years of broad experience across important segments of the oil and gas industry will be a valuable contribution to the company. His experience includes a 25 year banking career where he focused primarily on reserve based lending to both private and public oil and gas companies. Most recently, he served as chief financial officer for a private independent exploration and production company, where he was actively engaged in raising equity and acquisitions and development activities.<\/p>\n
Mr. Gregory is a member of Houston Producers Forum; Houston Energy Finance Group; and ADAM Houston Energy Network. He is also a Co-Founder of Bread of Life, Inc., a non-profit organization committed to empowering homeless Houstonians; and a director of Small Steps Nurturing Center, a non-profit Christian organization that provides early childhood education for economically at-risk children in the inner-city of Houston, Texas.<\/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.
\nContact:<\/p>\nRoyale Energy, Inc.<\/p>\n
Chanda Idano, Director of Marketing & PR<\/p>\n
619-881-2800<\/p>\n