Seeking Alpha

QualityStocks'  Instablog

QualityStocks
Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
QualityStocks
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • Royale Energy, Inc. (ROYL) Acquires 100k Prime Acres in State of Alaska North Slope Lease Sale 2011 0 comments
    Dec 13, 2011 5:27 PM | about stocks: ROYL
    Today, Royale Energy announced the successful acquisition of some 30% of the acreage offered in the State of Alaska’s North Slope lease sale 2011, beating out 12 other companies to grab what is arguably some of the best land.

    Bringing in a total of 100,480 acres of prime territory, targeted specifically for the optimal thermal maturity of the Shublik shale (source of the Prudhoe Bay oil field) in the 60 tracts (of 178) acquired, ROYL now stands poised to capitalize on a huge opportunity with multiple drilling targets.

    VP of Exploration for ROYL, Mohamed Abdel-Rahman, explained that additional potential exists in the Kingak/HRZ shale sections and that extant well data puncturing the Shublik offers demonstrable proof of oil generation possibilities. With three separate blocks of contiguous tracts spanning some 88 miles to the east and west of the Trans-Alaska pipeline, just 22 miles south of the massive Prudhoe Bay field in the core of prime thermal maturity acreage, ROYL looks to be gearing up for continuous increase of their reserves.

    Named among the top 20 fastest growing oil and gas developers in the US by Oil & Gas Journal, ROYL has rapidly made a name for itself as an aggressive innovator, drilling exploratory and developmental wells, and also selling fractional working interests to third party investors in order to diversify. Two decades of production under the Company’s belt and solid market backing, with 50% of funding for new projects coming from investor participation have made this San Diego-headquartered developer a force to be reckoned with in California, Utah and the Gulf Coast.

    CEO of ROYL, Donald Hosmer, underscored the potential for continuous accumulation of shale oil production that this acquisition represents. Explaining the layout of the three blocks, Hosmer indicated that the Western block (adjacent the Colville River) has both conventional and shale development potential, the Eastern block (some 40,320 acres) sits on the migration path of the oil which filled Prudhoe Bay and the Central block is host to an ongoing Halliburton/Great Bear Petroleum joint ventured test program.

    Hosmer further explained that the acquisition will create an excellent platform for extending ROYL’s reserve base and should lead to a great deal of future news regarding the development of the repeatable drilling opportunities made available.

    For more information on the acquisition, or on Royale Energy, Inc., please visit the Company’s website at: royl.com

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net
     
    Stocks: ROYL
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.