Royale Energy Inc. (ROYL) Discovers Natural Gas in Two California Sands
Source: http://Blog.QualityStocks.net/?p=12800Posted on Tuesday, October 7th, 2008 | In Small & Micro Cap
San Diego-based Royale Energy Inc. (Nasdaq: ROYL) focuses on the development, acquisition, exploration and production of natural gas and oil in California, Texas and the Rocky Mountains. The company today announced a natural gas find in California as part of its 2008-A drilling project.
The natural gas was discovered in its Andrus Island East well in the Sacramento Basin. The well was drilled to 7,000 feet and logged pay dirt in two natural gas-filled sands in the Nortinville formation at 3,350 feet and 3,800 feet, according to the press release.
The Starkey Channel had greater depth, and – though it posed more of a risk – the company continued with operations and the well was penetrated at 6,500 feet and encountered 26 feet of high porosity and permeable, natural-gas filled sands.
“The company had drilled four commercially productive wells to the shallower Nortinville formations on Andrus Island,” Donald Hosmer, Royale Energy CEO stated in the press release. “This was the first attempt to drill to the deeper Starkey objective. The deeper objective in the well was higher risk but because of the potential upside the company felt the risk was justified.”
After the company concluded drilling and testing at the Starkey sand in the Andrus Island East well, it was flowing at a rate of more than 1 million cubic feet of natural gas per day. On that note, Hosmer added that more Starkey wells may be drilled in the future to increase reserves, while the shallower Nortinville formations remain behind pipe for future completions.
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Andrus Island, California, Donald Hosmer, gas and oil, Natural Gas, natural gas find, natural gas-filled sands, Nortinville, Rocky Mountains, Royale Energy Inc, San Diego, Small & Micro Cap, Texas
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