Royale Energy Inc. rocketed to the stars out of nowhere during intraday trading yesterday as the company announced some stock altering news! ROYL closed near the high of the trading session at $3.53 for a whopping 65% gain!
ROYL is an independent energy company that focuses on developing, acquiring, exploring and producing natural gas and oil in California, Texas and the Rocky Mountains. Royale Energy has been a leading indie producer of oil and natural gas for more than 20 years.
ROYL announced its new natural gas discovery in the Sacramento Basin yesterday and as the lower Mokulumne has been completed – it is now producing over 1 million cubic feet of natural gas per day!
ROYL also added new production with other newly completed wells, for example – Andrus Island well is now producing 250,000 cubic ft. per day from a shallower formation in the well. The CEO for ROYL, Donald Hosmer said “with a strong balance sheet and an aggressive pace of exploration in Royale’s core area, the company is confident in its outlook for growth!”
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