Royale Energy updates Black Gold IV & V; operator Ares selling Pradera Fuego field

Royale Energy, Inc.

Royale declined a major oil company's offer to buy its interest in Pradera Fuego field.
Ares Energy (70% owner) opened data room, attracted over 50 bidders, now in PSA discussions.
Drilling paused during sale process; operator may resume after transaction closes.
Black Gold V closed for further investment in early October 2024.
Resolution on sale expected soon; investors hold secured proven reserves.

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