8-K
Royale Energy, Inc. (ROYL)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 29, 2022
Royale Energy, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 000-55912 | 81-4596368 |
|---|---|---|
| (State or Other Jurisdiction<br> <br>of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 1530 Hilton Head Rd., Suite 205<br> <br>El Cajon, California | 92019 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(619) 383-6600
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On November 29, 2022, Royale Energy, Inc. (the “Company”) issued a news release announcing the completion of the V.T. McCabe #70 well in the Company’s North Jameson Field in Mitchell County, Texas. The news release is furnished as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the foregoing information, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, or shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
| 99.1 | News Release dated November 29, 2022. |
|---|---|
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: November 29, 2022 | ROYALE ENERGY, INC. | |
|---|---|---|
| By: | /s/ Johnny Jordan | |
| Johnny Jordan | ||
| Chief Executive Officer |
ex_451102.htm
Exhibit 99.1
(ROYL)
News for Immediate Release
ROYALE EXPANDS OIL DEVELPOMENT IN THE NORTH JAMESON FIELD
November 29, 2022 -- San Diego, California – Royale Energy, Inc., (the “Company” or Royale") (OTCQB : ROYL), is pleased to announce the completion of the V.T. McCabe #70 well which was recently drilled to a target depth of 7,000’ in the Company’s North Jameson Field in Mitchell County, Texas.
The well encountered porous and permeable zones in both the Strawn and Odom formations. The well was initially completed in the Odom formation where it averaged 85 barrels of oil and 120 thousand cubic feet per day of natural gas. The Upper Strawn formation has 35’ of net pay and will be completed at a later date.
Royale retains a 40% working interest in the V.T. McCabe #70.
OPERATIONS
Since January 2020, Royale has successfully drilled seven wells and re-entered three additional wells in the North Jameson Field. The wells were drilled to test the Ellenburger, Odom and Strawn formations which are prevalent in the area. Typically, the Strawn completions require fracture stimulations to maximize the production from this zone.
In October 2022, Royale began an aggressive fracture stimulation program in the Strawn completions. To date, five wells have been fracture stimulated and are in various stages of recovering the stimulation fluids.
FORECAST
Royale anticipates fracture stimulating three additional Strawn completions by early December 2022.
About Royale Energy. Inc.
Royale Energy, Inc. (OTCQB: ROYL) is an independent exploration and production company based in San Diego, California, focused on the acquisition, development, and marketing of oil and natural gas. The Company has its primary operations in California’s Los Angeles Basin and Texas’s Permian Basin.
Forward-Looking Statement
In addition to historical information contained herein, this news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company’s actual results to differ materially from those in the “forward-looking” statements. While the company believes its forward-looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company’s control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.
Contact:
Royale Energy Inc.
Mark Larson
Public Relations & Media
619-383-6600
marklarsonmedia@gmail.com