---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000170"
form_type: "8-K"
ticker: "ROYL"
cik: "0001694617"
company_name: "Royale Energy, Inc."
filed_at: "2024-02-15T23:59:59+00:00"
generated_at: "2026-06-06T01:19:54.589979+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Royale Energy enters $3M secured loan with CEO-affiliated lender at 18% interest

## Summary
- Initial $1.4M from Walou Investments (affiliate of CEO Johnny Jordan); total facility up to $3M.
- Interest 18% per annum; maturity August 1, 2025; secured by oil/gas assets in Ector County, Texas.
- Related-party transaction approved by disinterested board; terms deemed fair and no less favorable.
- Additional loans of at least $100k allowed; prepayment without penalty; no reborrowing.
- Collateral includes certain oil and gas properties owned by wholly-owned subsidiary in Texas.

## SEC filing metadata
- accession: 0001185185-24-000170
- form_type: 8-K
- ticker: ROYL
- cik: 0001694617
- company_name: Royale Energy, Inc.
- filed_at: 2024-02-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1694617/000118518524000170/0001185185-24-000170-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1694617/000118518524000170/royaleinc20240215_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000170
- JSON: https://secwatch.observer/filing/0001185185-24-000170.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000170.txt

## Key facts
- Debt Financings
  Royale Energy, Inc. incurred term loan of $1,400,000 with Walou Investments, LP at 18.00% maturing August 1, 2025.
  - Instrument: term loan
  - Principal: $1,400,000
  - Counterparty: Walou Investments, LP
  - Rate: 18.00%
  - Maturity: August 1, 2025
  - Event: incurrence
  source text: the administrative agent for the Lenders (“ Agent ”). Pursuant to the Note, the Initial Lender agreed to make an initial loan to the Company in the aggregate principal amount of $1,400,000 (the “ Initial Loan ”), and the Additional Lenders may make one or more additional loans (the “ Additional Loans ” and, together with the Initial Loan, the “ Term Loans ”) which,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1694617/000118518524000170/0001185185-24-000170-index.htm
- Material Agreements
  Royale Energy, Inc. entered into Secured Term Loan Note with Walou Investments, LP valued at $1,400,000 (effective 2024-02-09).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Walou Investments, LP
  - Value: $1,400,000
  - Effective: 2024-02-09
  source text: On February 9, 2024 (the “ Closing Date ”), Royale Energy, Inc., a Delaware corporation (the “ Company ”), entered into a Secured Term Loan Note (the “ Note ”) with Walou Investments, LP, a Texas limited partnership (the “ Initial Lender ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1694617/000118518524000170/0001185185-24-000170-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.