Royale Energy announces initial production rates for first well drilled on JDA

Royale Energy announces initial production rates for the first well drilled on the Joint Development Agreement, JDA. The JDA was executed and announced November 21, 2022. This project is a horizontal resource play in the Mississippian interval. Royale Energy and its investors collectively own a 5% working interest in this first well drilled on the 6900 net acres project in Texas. To date, there have been two wells drilled on this acreage. The first well demonstrated an initial production rate of 818 BOPD & 1.1 MMcf/d with expected reserves exceeding 1,400,000 barrels of oil equivalent. The second well drilled on the JDA has been drilled safely and without incident to its intended target depth. The completion operations for the second well are expected to start late in the second quarter of 2023.