Royale Energy, Inc. (ROYL) Acquires 100k Prime Acres in State of Alaska North Slope Lease Sale 2011
Today, Royale Energy announced the successful acquisition of some 30% of the acreage offered in the State of Alaska’s North Slope lease sale 2011, beating out 12 other companies to grab what is arguably some of the best land. Bringing in a total of 100,480 acres of prime territory, targeted specifically for the optimal thermal maturity of the Shublik shale (source of the Prudhoe Bay oil field) in the 60 tracts (of 178) acquired, ROYL now stands poised to capitalize on a huge opportunity with multiple drilling targets. VP of Exploration for ROYL, Mohamed Abdel-Rahman, explained that additional potential exists…