just to clarify, royl pressrelease cites two separate drill locations in sac.basin calif ;; memento and em/ridge
1) royale is currently doing completion work on the memento wells and the emerald ridge wells.
2) royl is also moving its rig back to its existing Cardiff well location, for purpose of tapping different levels/depths of productivity zones to extract new nat gas.
3) by 12/31/13 royale will yet again move its drilling rig to its victor ranch field and begin drilling there by end of year
BEST BET IS TO READ TODAYS ROYAL PRESS RELEASE FOR YOURSELF ON THIS VERY PAGE JUST GO TO BOTTOM RIGHT SIDE OF MB AND CLICK ON HEADLINES. HAVE GOOD WEEKEND & THKSGIVING FOLKS.
"The third and the shallowest of the pay zones occupy a large area and can potentially hold significant gas accumulations."...This could be a very nice as was their discovery of a couple years ago when the economics on a couple of wells ( Magnum, Goddard) had IRR's in the 250% range. It's pretty simple here drill a few shallow vertical wells at a cost of $500k per well that produce 800-1500/Mcf a day at $4 and you're in business.