ROYL leases 15,000 net acres in the southern part of the Flat Rock field in the Uinta Basin just 4 miles from ROYL.
ROYL has already drilled and completed one well in the Entrada formation. Stewart Petroleum to the west of ROYL and the south of WLL just hit a 5 mmcf per day well in the Entrada a few weeks ago. This well is only 1,500 feet off the ROYL property line. ROYL is updip from Stewart and is about to drill a well on its side of the property to prevent drainage.
WLL recently paid $365 million for 11,000 net acres in Flat Rock only 4 miles from ROYL inorder to drill into the Entrada gas formation. ROYL has a marketcap of only $75 million.