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Royale Energy launches strategic review; engages Roth Capital; targets potential Nasdaq relisting
Board initiated a comprehensive strategic review to strengthen financial position and explore options for potential Nasdaq relisting, subject to listing requirements.
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Royale Energy appoints Jonathan Gregory as Executive Chairman; eyes Nasdaq relisting
Jonathan Gregory (61) appointed Executive Chairman effective Jan. 5, 2026; Chris Parada remains Independent Chairman.
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Royale Energy expands Pradera Fuego working interest to 7.5%, plans 4 new wells
Farm-out grants additional 2.5% working interest in 17,000-acre Pradera Fuego project in Ector County, Texas.
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Royale Energy acquires Barnett well interests in Permian for $1.5M cash
Acquired non-operated working interests in 7 producing Barnett wells in Ector County, TX for $1.5M cash.
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Royale Energy expands Permian Basin working interests in Barnett wells
Acquired non-operated working interests in seven producing Barnett wells in Pradera Fuego project, Ector County, Texas.
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Royale Energy eliminates all Series B Preferred, resolves ~$27M in obligations via stock, notes, and options
Exchanged all Series B Preferred Stock (liquidation preference >$24M) for 22.2M common shares, $2.47M notes, and 25M options at $0.10.
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Royale Energy enters $3M secured loan with CEO-affiliated lender at 18% interest
Initial $1.4M from Walou Investments (affiliate of CEO Johnny Jordan); total facility up to $3M.
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Royale Energy reports initial Permian well rates up to 1,347 BOPD; 2 more wells coming online
Well 1 (March 2023): initial rate 818 BOPD & 1,100 MCFD, reserves >1.4M BOE.
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Royale Energy announces initial production of 818 BOPD from first Permian Basin JDA well
First well on JDA with Ares Energy in Texas Permian produced 818 BOPD and 1.1 MMcf/d initial rate.
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Royale Energy auditor Weaver & Tidwell resigns; going concern noted
Weaver resigned as independent auditor on December 5, 2022; resignation accepted by Audit Committee December 6.
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Royale Energy completes V.T. McCabe #70 well; initial production 85 bbl oil, 120 Mcf gas/day
Well encountered porous zones in Strawn and Odom formations; Odom completion averaging 85 bbl oil and 120 Mcf gas per day.
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Royale Energy executes Permian Basin JDA with Ares Energy for up to 25,000 acres
Royale Energy gets 5% working interest in Pradera Fuego Project; Phase 1 covers 6,900 net acres with 12-15 drillable locations.