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Royale Energy Inc. Message Board

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  • balegoba1966 balegoba1966 Jan 30, 2006 9:59 AM Flag

    reason for going higher

    Uinta Basin drilling is Royale's best prospect for going higher. It already has a producing well in a proven area, and is ready to drill more wells in the surrounding area. Berry Pet. recently made a big hit in Uinta, and Enogex is increasing its pipeline to gather gas there. There is a lot of interest in Utah as a potential big hit area given improved seismic methods. ROYL could add production there very fast if it can get the rigs, and it could make substantial additions to proved reserves.

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    • The 1/24 Commitment of traders report shows Commercials evenly split between long and short positions, but Speculators short by over 2:1. NG contracts were up $.44 late today, so we are getting into the area where prices could get a big boost from short covering in the futures pits. That will only help ROYL if they can get more gas out of the ground and into the terminals.

      • 1 Reply to balegoba1966
      • The Federal tax cuts have been paid for by running the govt. printing presses at rates that are increasing the money supply similar to the 1970s. The war in Iraq is going to cost the US over $1 trillion before we pull out (and the day we do, insurgents will blow up the pipelines). In other words, the dollar is being cheapened, demand for oil continues to rise, and potential supply disruptions are everywhere. It is only a matter of time before China decides it is better to buy and stockpile oil and copper than buy more US Treasury bonds. Oil and NG prices are going much higher. ROYL just needs to get the drill bit in the ground and hit some gushers.

 
ROYL
2.83+0.03(+1.07%)Apr 17 3:59 PMEDT

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