Royale CRC 33-1 Well Flows 4,600,000 Cubic Ft. Per Day
28 Januar 2019 - 2:24PM
Royale Energy, Inc., (OTCQB : ROYL) announced the
Royale CRC 33-1 natural gas well in the Sacramento Basin flowed
4,600,000 cubic ft. per day with very high reservoir pressure on a
combined rate from two zones that were completed in the Mokelumne
River formation. A two-hour test had a stabilized rate of
4,600,000 with very little draw down in reservoir pressure.
The well was drilled to a depth of 6,800 ft. and discovered
multiple pay zones.
Royale Energy and its investors own a 60% working interest, at
an 80% Net Revenue Interest, in the well of which Royale owns 15%
and California Resources Production Corporation (CRPC), a wholly
owned subsidiary of California Resources Corporation (NYSE : CRC),
owns the remaining 40%.
A 3-D seismic survey of the Rio Vista Field, that Royale
recently licensed, has identified more of these types of prospects
within a 4 to 5-mile trend in the field. The next well,
pending final prospect planning and permitting, is anticipated to
be drilled in late February.
A total of 7 more Rio Vista wells are planned to be drilled in
its 2019 program as part of the joint venture agreement with CRPC.
This agreement provides Royale the right to drill at least 30 wells
in the Rio Vista Field within 3 years.
About Royale Energy. Inc.Royale Energy, Inc.
(OTCQB: ROYL) is an independent exploration and production company
focused on the acquisition, development, and marketing of oil and
natural gas. The Company has its primary operations in California’s
Los Angeles and Sacramento Basins.
Forward-Looking StatementIn addition to
historical information contained herein, this news release contains
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, subject to various risks
and uncertainties that could cause the company’s actual results to
differ materially from those in the “forward-looking” 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’s control. Investors are directed to consider
such risks and other uncertainties discussed in documents filed by
the company with the Securities and Exchange Commission.
Contact:Royale Energy, Inc.Chanda
Idano-Director of Marketing &
PR619-383-6600chanda@royl.comhttp://www.royl.com
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