SAN DIEGO, June 16, 2014 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL) today announced the successful completion of its Wembley well.
The well was drilled directionally to test four seismic anomalies.
The lower zone has been tested at a stabilized rate of 600 MCF per day on a 10/64 this choke with 1,100 psi, and electric logs indicate a positive potential in the other three formations. A pipeline is being connected and once in production the flow rate will be monitored to determine if the choke size should be opened.
There is also the potential to add perforations within the same formations. The remaining three zones will be completed once the existing one has produced out.
Forward Looking Statements
In addition to historical information contained herein, this news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company's actual results to differ materially from those in the "forward-looking" statements. While the company believes its forward looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company's control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.