Just received this information via letter from Royale Energy and wanted to share it with anyone who is interested. "The Bowerbank #10 has reached a total depth of 4200 feet. Electronic logs indicate up to four producing natural gas bearing zones are present in the well. Production casing was set to 3800 feet. Completion of the well will begin next week.
3D Seismic is currently being shot surrounding the Arbuckle gas field and should be ready for processing in late Feb. The data acquired from this seismic shoot will be analyzed and used to determine two optimal locations to drill.
The North Lathrop and Stone Lake propects are still too wet to move drilling equipment into the location"
You all have it just as I got it from the folks at Royale.
First let me say thanks for your closing concerning comments.
I just sat down and typed you a few comments and then for a half hour typed you the opening page of Castle's annual report, which Joe Castle wrote on January 29th. He's a man I'd like to meet. After typing the whole thing out, when I went to post it, Yahoo told me I couldn't because it was too long. Hopefully you'll call for the annual report and latest 10-Q and you'll be able to see it for yourself. They seem to be an oil/gas marketer/distributor.
They have a big contract that runs through May of 1999, which they fulfilled with their Texas operation, which was sold in
May of last year. If I read it correctly, they will buy gas on the open market and fullfill the contract that way. He may or may
not close up shop after that and sell off his assets and distribute the cash that's left. If all the numbers are valid, and he's
honest on the distribution, and inbetween they keep buying up shares, then the results could be a decent long term capital gain,
all while collecting a 4% annual dividend. If you have any trouble getting the info from them, I'll send you mine. Have a good
weekend, and again, thank's for the updates.
info on Castle Energy. Do they have a home page or better yet how can I get info on them. My opinion on Royale Energy was
strengthened by my trip to the Fl. $ show. I sure am hoping that their stock price begins an upward movement. I guess my faith in this
Company is in their MGMT FOLKS who I trully trust and respect. I firmly believe that they are on the right track and that when they
get discovered they will appreciate smartly. They [I think] know what they are doing and their latest finds are super. As a
stockholder you should start to get info directly from them and I feel you won't be disappointed. I'm now interested in Castle and would
like to look them over. If you can help I will be gratefull. I never want to put all my eggs in one basket and have worked very
hard to many years to throw my bucks down the rat hole. By the way I'm back home to stay for at least three weeks and will be on
line more frequently. Remember make your own decisions about investments and don't rely on just my thoughts and feelings and data
solely. Good luck to you and your family.
and happy what I saw at the Royle booth. All the principals were there and I renewed friendships and asked for their next
prospectus which is going to be a 3d five well package. Just got home and have been up since 2am. Had a 6:46 am flight out of Fl. Am
real tired and need some zzzs. Will get back to you tomorrow and share some thoughts and try to answer some questions you asked
me last week. Saw some unhappy folks on this board and will tell them to have patience. I still think this stock is going
nowhere but up in the next year. Anyways I'm hanging with them to see what happens with the rest of the year. I lol at putting the
gas back in ground. Maybe that guy is right. More tomorrow. By the way I'm not very technical about gas drilling and still don't
know all the terms they use but when they hit what maybe the Ca well of year at 10,00mcf I sure do understand that....
Just came on board. Amazed at the in depth info on Royale activities. As a common stock holder and a looker at the direct drilling program was pleased to find this wealth of data.
My location in Northern California allows me the opportunity to view first hand some of the gas well installations. The latest 10 million well is in my back yard. If someone can give me a more specific location for this Contra Costa County well I will be happy to swing by and give you a field report.
I attended the field trip for the spudding of the Royale well in the Beehive field in 1997 and was very much impressed by the management people .
Talked to Connelly and he's sending out last years annual plus the latest quarterly. Picked up 2 more on the last dip. Wonder
when they will start the buyback program. Jack wouldn't say.
Be well and thanks for keeping everyone informed.
Hi folks just received this from Royle Energy. " WELL UPDATE Jan 28, 1998 BLOOMFIELD 1A. History of completion and testing.
The Royle Energy 1A [API #01320346 11-T1N-R3E,MDB&M] was drilled to 8354 and logged on Jan 9th. Gas shows on the mudlog indicated a potential gas interval of about 50 feet of 4th massive sand. Dual induction and Sonic logs indicated a gross gas sands interval within the Fourth Massive from 8166 to 8218 and a net pay sand count of about 40 feet. The results of the well were substantiall within the expectations and predictions of the geologic analysis. 4 and 1/2 inch casing was run to 8303.
Royle is pleased to report that on Jan 24th gas sands were selectively perforated over the interval 8168-8201 with six holes
per foot. Shut in pressures were recorded with 2900 psi casing and 2900 psi tubing pressure indicating a virgin reservoir.
Initial clean up flow was measured at 5113mcf/d on a 17/64 choke with 2630 flowing tubing pressure. This was the maximum flow
capacity allowed by the test unit. A back pressure test was conducted with flow rates between 2000 and 3000 mcf/d for later
productivity analysis. A gas chemical analysis test reported 948 btu and .60 gravity gas. Eary productivity estimates indicate that the
initial production rates will exceed 10,000 mcf/d. The well is expected to begin producing into sales lines in early Feb. The
productivity of the Bloofield well makes it a strong contender for the California well-of-the-year award."
Do these folks have it together or not... I'm glad I got into this package.