Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Bill Ackman Eyes New Fund to Bet Against Market Complacency 
NIO ES9 SUV Launch Sends HK Shares Down 7% Despite Bold Pricing Strategy 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
Rio Tinto's California Boron Assets Attract Over a Dozen Bidders, Valued at Up to $2 Billion 
TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
Pilots Fear Retaliation for Refusing Middle East Flights Amid Ongoing Conflict 
U.S. Automakers Push Back Against EU Rules Blocking American Trucks from European Market 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
Anthropic's Mythos AI Model Sparks Emergency Cybersecurity Meeting With Top U.S. Bank CEOs 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
SanDisk Joins Nasdaq-100, Replacing Atlassian on April 20 
OpenAI Addresses Security Vulnerability in macOS App Certification Process 
Abbott Laboratories Ordered to Pay $53 Million in Premature Infant Formula Lawsuit 
SAN DIEGO, Aug. 14, 2017 -- Royale Energy, Inc. (OTCQB:ROYL) (“Royale” or the “Company”) today announced its second quarter 2017 results, in which it posted net income of $70,662 for the three months ending June 30, 2017. Royale’s second quarter profit was largely because of an $875,533 gain from its turnkey drilling operations, due to the completion of the CRC RVGU 8-4 during the period. Royale’s second quarter net income compares favorably to a $475,397 loss for the same period in 2016.
As previously reported, Royale recently completed the CRC RVGU 8-4 and 8-3 wells in Rio Vista Field, and spudded the first of two wells in Sansinena Field. Both the 8-3 and the Sansinena wells will be reflected in the 3rd quarter 2017.
Royale has continued to control its general and administrative expenses; though, legal and accounting expenses have increased significantly as a result of costs incurred related to Royale’s previously announced merger with Matrix Oil. Royale anticipates the merger will close early in the fourth quarter.
About Royale Energy, Inc.
Founded in 1986, Royale Energy, Inc. (OTCQB:ROYL) is an independent exploration and production company focused on the acquisition, development, and marketing of natural gas and oil. Royale Energy has its primary operations in the Sacramento and San Joaquin basins in California.
Forward Looking Statements
In addition to historical information contained herein, this news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company’s actual results to differ materially from those in the “forward-looking” statements. While the company believes its forward-looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company’s control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.
Contact: Royale Energy, Inc. Chanda Idano- Director of Marketing & PR 619-383-6600 [email protected] http://www.royl.com
