San Diego, October 8, 2015 – Royale Energy, Inc. (NASDAQ: ROYL) today announced that it has reached an agreement, with a major independent exploration and production company, to develop 1,300 acres in the Sacramento Basin Grimes Field. This agreement allows Royale to drill up to three wells targeting a 3D seismically defined amplitude. The seismic event is clearly correlated to the nearby productive natural gas horizon and shows a sizable target with multiple well follow up potential.
\nRoyale is pleased to enter into the first of what it believes to be a series of development opportunities with an industry participant of this caliber.
\n\u201cI am excited to have the opportunity to establish a relationship of this nature,\u201d said Stephen Hosmer, \u201cand look forward to the reserve and production growth for both of our companies.\u201d<\/p>\n
READ OFFICIAL PRESS RELEASE<\/a><\/b><\/p>\n ***<\/p>\n About Royale Energy, Inc.<\/p>\n Founded in 1986, Royale Energy, Inc. (NASDAQ: ROYL) is an independent exploration and production company focused on the acquisition, development, and marketing of natural gas. Royale Energy has its primary operations in the Sacramento and San Joaquin basins in California.<\/p>\n <\/p>\n Forward Looking Statements <\/p>\n In 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>\n \nContact:<\/p>\n Royale Energy, Inc.<\/p>\n Chanda Idano, Director of Marketing & PR<\/p>\n 619-881-2800<\/p>\n\n