Royale Energy +11% on North Slope shale oil report

|About: Royale Energy, Inc. (ROYL)|By:, SA News Editor

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.