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.

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Comments (2)
  • Michael Bryant
    , contributor
    Comments (5939) | 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 2014, 08:55 PM Reply Like
  • Yorick
    , contributor
    Comments (603) | 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 2014, 01:32 PM Reply Like
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