Royale Energy Inc. was selected by the State of Alaska as a winning bidder on acreage in the North Slope Area wide lease sale. The position secures a liquids rich shale known to have sourced Prudhoe bay and Kuparuk River oil fields. The primary targets of this acquisition are the Shublik, Kingak and HRZ shale formations at depths ranging between 7,000 and 10,000 feet.

"While we continue to focus on natural gas production in our core area," said Stephen Hosmer, the company's co-CEO, "this is an exciting opportunity to add oil to Royale's future mix. “With the ongoing development of infrastructure in the exploration friendly state of Alaska, and the availability of spare capacity in the Trans-Alaska pipeline, timing was right for this strategic move. Further details and a plan for development will be provided in future updates.”

Founded in 1986, Royale Energy is an independent exploration and production company focused on the acquisition, development, and marketing of natural gas. Incorporated under the laws of the State of California, Royale Energy owns and operates wells in the Sacramento and San Joaquin basins in California and in the US Gulf Coast. It markets approximately 15,000,000 cubic feet of natural gas per day to its customers.