Royale Energy Funds, Inc. (OTCPK:ROYL) signed a letter of intent to acquire non-operated interests in oil fields at Permian Basin and California for $12 million from West Coast Energy Properties, L.P. on June 28, 2018. Royale Energy Funds, Inc. (OTCPK:ROYL) entered into an agreement to acquire non-operated interests in oil fields at Permian Basin and California from West Coast Energy Properties, L.P. in September 19, 2018. Post completion, these assets will be combined with the Royale Energy’s new joint venture development company, RMX Resources. The acquisition effort is being led by Johnny Jordan, President and Chief Operating Officer of Royale Energy. Closing of the purchase is contingent on Royale’s arranging of acceptable financing. The transaction is subject to customary due diligence and other closing terms and conditions. The transaction is expected to close in the third quarter of 2018. As of September 19, 2018, closing on the purchase is scheduled to occur within 45 days of execution of the agreement. Royale Energy Funds, Inc. (OTCPK:ROYL) completed the acquisition of non-operated interests in oil fields at Permian Basin and California from West Coast Energy Properties, L.P on December 3, 2018.