Royale Energy executes Permian Basin JDA with Ares Energy for up to 25,000 acres

Royale Energy, Inc.

Royale Energy gets 5% working interest in Pradera Fuego Project; Phase 1 covers 6,900 net acres with 12-15 drillable locations.
Three wells drilled to date: Sweet Melissa 1H averaged 730 BOPD & 1.1 MMcf/d; reserves exceed 1.2M boe.
Second well (Anna 1H) and third well (Abby Unit 1H) drilled without complication; completions start mid-Dec 2022 and early 2023.
Drilling efficiencies cut days by 59%; lateral lengths up to 11,625 ft – longest among 65 Mississippian wells in the area.
Forecast: participation in 6-8 additional wells in 2023.

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