Royale Energy Holdings, Inc. Announces Board Appointments
January 17, 2018 at 01:31 pm EST
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On January 16, 2018, Royale Energy announced that Royale Energy Holdings, Inc., has elected seven members to its board of directors. The directors were named pursuant to the vote of the respective shareholder as proposed in the merger between Royale Energy Holdings, Inc., Royale Energy, Inc., and Matrix Oil Management Corporation, and their related entities. The merger is now scheduled to close on January 31, 2018. The following summarizes the business experience of each director and executive officer for the past five years; Harry E. Hosmer – Chairman of the Board and Director - Harry E. Hosmer has served as chairman of Royale since he founded the company in 1986. Mr. Hosmer will serve as chairman of Holdings until the first annual shareholders meeting, at which time he will retire as chairman and assume the title of chairman emeritus; Jonathan Gregory – Chief Executive Officer and Director - Mr. Gregory was appointed Royale’s chief executive officer on September 10, 2015. Prior to becoming Royale’s CEO, Mr. Gregory, from March 2014 to July 2015, served as chief financial officer for Americo Energy Resources; Johnny Jordan – Chief Operating Officer and Director - Mr. Jordan serves on the Board of Directors of Matrix. Mr. Jordan has been active in the oil and gas industry since 1980 beginning as a floor hand on a well service rig; Ronald L. Buck – Director - Mr. Buck was elected to the board in 2015; Rod Eson – Director - Mr. Eson is the chief executive officer of Foothill Energy, LLC, a position he has held since he founded Foothill Energy in 2004; Gabriel L. Ellisor – Director - Mr. Ellisor retired from Three Rivers Operating Company II in February 2015, and since that time has managed his private investments; and Gabriel L. Ellisor – Director - Mr. Ellisor retired from Three Rivers Operating Company II in February 2015, and since that time has managed his private investments. From July 2012 to February 2015, he served as chief financial officer of Three Rivers Operating Company II.
Royale Energy Funds, Inc. is an independent oil and gas producer. The Company also performs turnkey drilling operations. The Company owns wells and leases in various geological basins located primarily in California, Texas, Oklahoma, and Utah, and offers fractional working interests. The Company also owns an overriding royalty interest in discovery in Alaska. It usually sells a portion of the working interest in each well it drills or participates with third-party participants and retains a portion of the prospect for its own account. The Company generally sells working interests in its prospects to accredited investors in exempt securities offerings. The prospects are typically bundled into multi-well investments, which permit third-party investors to diversify their investments by investing in several wells at once instead of investing in single-well prospects. The Company owns an interest in approximately 70 producing oil and natural gas wells.
ROYALE ENERGY, INC. 
