Royale Energy, Inc. and Matrix Oil Management Corporation Announces Successful Completion of Sansinena 9A-4 Well
October 17, 2017 at 12:02 pm EDT
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Royale Energy, Inc. and Matrix Oil Management Corporation jointly announced the successful completion of the Sansinena 9A-4 well. This is the first well drilled in Sansinena Field since Matrix acquired the field in June 2016. The 9A-4 initially flowed at a rate of 15 barrels per hour which equates to a daily rate of over 350 barrels of oil per day. The well which encountered original pressure of 1500 psi was perforated at approximately 4500 feet (with 320 feet of net pay). Matrix is currently producing the well at a restricted rate of 8 to 9 barrels per hour which equates to around 200 barrels of oil per day. The current rate and initial flow rate are more than twice management’s initial internal projections. Matrix’s and Royale’s management believe that the test results support drilling of more than 70 additional development well locations in the Sansinena field.
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. 
