Item 1.01. Entry into a Material Definitive Agreement

On June 24, 2020, Matrix Oil Management Corp., a subsidiary of Royale Energy, Inc. ("Royale") and RMX Resources LLC ("RMX"), as Sellers, entered into an agreement with 9th St. Partners, LLC, as Buyer, for the sale and purchase of a 1.7 acre tract of land in Commerce, CA owned 50/50 by Sellers, for a purchase price of approximately $2.15 million. Royale owns a substantial interest in RMX through a joint venture with CIC RMX LP. The closing of the transaction is subject to satisfaction of closing conditions including the receipt of all governmental approvals, satisfactory inspections and other customary items.

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