Royale Energy announces initial production of 818 BOPD from first Permian Basin JDA well

Royale Energy, Inc.

First well on JDA with Ares Energy in Texas Permian produced 818 BOPD and 1.1 MMcf/d initial rate.
Expected reserves for first well exceed 1,400,000 BOE.
Second well drilled to target depth; completion expected late Q2 2023.
Royale and investors collectively own 5% working interest in 6,900 net acres project.
Company forecasts 4-6 additional wells on the project in 2023.

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