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.

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Comments (2)
  • Michael Bryant
    , contributor
    Comments (7339) | Send Message
    And why is (ROYL) falling? It hasn't gone anywhere in months.;c=


    This is interesting. Sell at $6. Buy at $2.;c=
    21 Aug 2013, 01:14 PM Reply Like
  • joei
    , contributor
    Comments (130) | Send Message
    Ho-hum. Put out some positive news and do a secondary. Bleeding investors since 1995.
    22 Aug 2013, 11:31 AM Reply Like
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