Royale Energy reports initial Permian well rates up to 1,347 BOPD; 2 more wells coming online

Royale Energy, Inc.

Well 1 (March 2023): initial rate 818 BOPD & 1,100 MCFD, reserves >1.4M BOE.
Well 2 (August 2023): initial rate 1,347 BOPD & 1,649 MCFD, reserves >1.5M BOE.
Wells 3 and 4 drilled; completion underway, production expected early October 2023.
Royale has 5% WI in first two wells, 7% WI in third and fourth wells.
Plans one more well in 2023 and 3-6 additional wells in 2024 on the 6,900-net-acre project.

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