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Wednesday, Aug 21
Royale Energy +11% on North Slope shale oil report
- Royale Energy (ROYL +11.2%) says an outside study shows its shale acreage in Alaska's North Slope is a qualified prospective resource with an average recovery rate of 3,995 bbl/acre of oil, equivalent to ~639K barrels of oil per well drilled.
- Preparation for a seismic survey has begun, final engagement of the contractor is expected soon, and data should be available by Q2 2014, ROYL says.