San Diego, October 9, 2015 – Royale Energy, Inc. (NASDAQ: ROYL) today announced that, on October 6, 2015, the Company received a letter from the NASDAQ Listing Qualifications Staff (the \u201cStaff\u201d) of The NASDAQ Stock Market LLC (\u201cNASDAQ\u201d) notifying the Company that the Staff has determined that the Company is non-compliant with the stockholders\u2019 equity, majority independent director and audit committee requirements for continued listing, as set forth in NASDAQ Listing Rules 5550(b), 5605(b)(1) and 5605(c)(2). As a result of the foregoing, the Company\u2019s securities would be subject to delisting unless the Company requests a hearing before the NASDAQ Listing Qualifications Panel (the \u201cPanel\u201d) by October 13, 2015. The Company intends to timely request a hearing before the Panel at which it will present its plan to regain and thereafter sustain compliance with all applicable listing requirements. The Company\u2019s securities will continue to be listed on The NASDAQ Capital Market pending the completion of the hearing process and the expiration of any extension granted by the Panel. However, there can be no assurance that the Panel will grant the Company\u2019s request for continued listing.<\/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