Royale Energy Finds Natural Gas

Royale Energy, Inc. ROYL announced it has set pipe at its Magnum #1 well located in the Lonestar field area of the Sacramento Basin. The well reached total depth and electric logs have been run. The well intersected a thick Forbes formation confirming the targets that were indicated on Royale Energy's 3-D seismic data. Log analysis indicates the presence of over 20 ft. of natural gas charged high porosity sand reservoir which correlates with the strong seismic amplitude response. The drilling rig will be moving directly to the Goddard #2 location. This offsets the Goddard 7-1 that is currently producing 5,000 MCF per day. The price Royale is currently receiving has climbed to $4.55 per MCF. The company plans to drill three more wells by the end of the year.