On January 25, 2022, Stephen M. Hosmer, the Chief Financial Officer of Royale Energy, Inc. announced his voluntary resignation, effective January 31, 2022, from any and all positions as an employee, officer, manager, director or similar position with the Company and all of its subsidiaries. Mr. Hosmer's resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Mr. Hosmer will not receive any compensation or other severance benefits in connection with the resignation of his employment.

On January 25, 2022, the Board appointed Ronald Lipnick, the Company's Controller, as the Company's Chief Financial Officer and Principal Accounting Officer on an interim basis until a regular full time replacement for these positions can be found. Ronald Lipnick, age 61, has served as Controller of the Company since February 1994. He is responsible for the Company's accounting operations from daily accounting activities and general ledger reconciliation to the preparation of financial statements for the Company's SEC quarterly 1O-Q and year-end 10-K filings.

He also works closely with Royale's certified public accountants during their yearly audits. Mr. Lipnick has more than 36 years of experience in the accounting field. Mr. Lipnick received a Bachelor of Science in Accounting and a Master of Business Administration in Finance from Oral Roberts University, Tulsa, Oklahoma.