Royale Energy Inc. Begins Drilling Development Well After Positive Results in CRC RVGU #8-1
September 22, 2016 at 07:52 am EDT
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Royale Energy Inc. has begun drilling its second well, the CRC RVGU #8-2, in the Rio Vista field after finding over 100 ft. of net pay in a new gas pool discovery with the CRC RVGU #8-1 well. Both wells are being drilled from the same pad with the CRC RVGU #8-2 being drilled directionally. The CRC RVGU #8-1 was drilled vertically to a total depth of 6,700 ft. and encountered new natural gas reserves in several sands. After the CRC RVGU #8-2 well has reached total depth, both wells can be completed and put into production from the same location. Drilling operations should take about 12 days.
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. 
