Royale Energy, Inc. Elects New Independent Directors
July 31, 2018 at 12:56 pm EDT
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Royale Energy, Inc. announced the election of four new members to its board of directors. Mel Riggs, Robert Vogel, Tom Gladney and Barry Lasker received the vote of the company’s shareholders as recommended in the proxy. Following the election, the board voted to appoint Mel G. Riggs to the position of chairman. Presently Mr. Riggs is affiliated with the Clayton Williams group of companies and has previously served as President of Clayton Williams Energy, Inc. Tom Gladney, since 2006, has served as president of privately held Bodog Resources, LLC. Barry Lasker has served as founder and managing partner of Baja Oil and Gas LLC since 2017. Robert Vogel is a Principal at Lucas Capital Management. Harry E. Hosmer, Royale’s founder and chairman of the board since its inception, retired from board and was named chairman emeritus.
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. 