Seeking Alpha

Royale Energy +8% as outside expert finds large North Slope quantities

  • Royale Energy (ROYL +8.3%) is on the move after saying two of its recently identified drilling targets on Alaska's North Slope may contain as much as 325M barrels of oil.
  • ROYL says it has applied to state authorities for permits to drill two locations during the upcoming winter drilling season using a rig already under contract, and the wells are being designed to evaluate the unconventional and shale potentials of the targets.
From other sites
Comments (2)
  • Michael Bryant
    , contributor
    Comments (5619) | Send Message
     
    "Alaska's North Slope may contain as much as 325M barrels of oil."

     

    And (ROYL) has a market cap of only $49.76M.
    26 Jun, 08:55 PM Reply Like
  • Yorick
    , contributor
    Comments (526) | Send Message
     
    If Royl can get one rig to throw off 2K bbls per day for a year that is over 728K bbls and at $90 would be $65M before costs...with 10 rigs running, gushing 7M bbls and throwing $650M/yr...or they could just sell it to Chevron and take 15% for doing nothing.
    16 Jul, 01:32 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector