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.
Mr. Arizona, as usual, thanks for the info. Sure you're not a hidden PR guy working for Royale?? Got the material from Connolly. Reads well. Waiting anciosly for the 4th quarter results in two weeks or so. Price of oil is way down, and the weather up here in Jersey is real mild, got any read on what the price Royale's getting for their gas. Have a good week end, and again thanks for the info.
and this is what I have learned. This is from several sources none of whom are with Royale is any capacity that I am aware of so here goes for what it;s worth. I think Royale will post earnings over 40cents per share, natuaral gas prices are down over 40% since September, my well investment check from Royale continues to grow in spite of low gas prices, gas supplies are shrinking, demand continues to grow etc,etc. Gas prices are low right now but watch them go up as World concerns and growth particully in China and India continues in spite of the Asian Flu. If we hit Iraq there is no telling what will happen to energy prices around the world although I hope a peaceful solution to the inspection problem will be achieved. If we are patient right now with gas prices so low our guts may be very well rewarded in the future of the Royale stock. As I said before I am damn bullish. I have read that some Asian countries are selling their stockpiles of oil and gas in order to pay their bills. I'm hanging tough even though I could cash out now and make money. Good luck folks. If any of you are the money show in Fl this week look me up and we can exchange thoughts. Have a great day.
happyness is. No I'm not a hidden PR guy working for Royale. I just have some bucks invested in them and of course I want to see them do good and make money. For whatever reason they just don't toot their own horn so when I get news [good or bad] I try to let everyone know what is going on and whats happening. Price of oil is down but I heard last night at the local pub that the price of futures was moving up quite nicely. You know I never really paid much attention the California weather but now I watch it closley because the colder it is the more money we make. Hey I don't want anyone to freeze but keep on using that natural gas. No I don't know what Royale is getting for their gas but when I see them at the Fl $ show in Orlando next week I will find out and try to post it to this board. You all know that I am bullish on this Company and their stock...but if anyone who reads my posts sees it differenty please come on line and let me know what you all think. I have a lot invested but I also don't want to overstate what I think is a super Company. So if anyone thinks I am over zealous in my assessment of Royale please come on line because the best money decisions I have found are based on plenty of information both positive and negative. Again welcome to this board. By the way the was a guy named Justin or something like that who was on this board. Your not the same guy are you? Have a great day as will I from Sunny and warm Southern Arizona.