Boston, MA 07/03/2013 (wallstreetpr) – Royale Energy, Inc. (NASDAQ:ROYL) recently announced the signing of an agreement with Rampart Energy Ltd, a mining operations firm based in Australia. Under this agreement, the partner will undertake the assignment of drilling operations in the Alaskan property of Royale Energy, Inc. (NASDAQ:ROYL) and will thereby earn a 75 percent working interest in the company, with a special focus on the western and central acreage. In connection with that agreement, Rampart Energy made drilling and seismic control commitments.
Royale Energy, Inc. (NASDAQ:ROYL) reported an increase in its cash flow for the first quarter of the fiscal year 2013, due primarily to a decrease in bank debts, general and administration expenses and net loss of the company.
Shares of Royale Energy, Inc. (NASDAQ:ROYL) closed at $2.83 on Tuesday, recording a gain of 8.43 percent. The share price ranged between $2.53 and $2.87 during the day, with a 52-week high of $5.23 and a 52-week low of $1.70 per share.
Royale Energy, Inc. (NASDAQ:ROYL) recorded very high trading volumes of 888,445 shares on Tuesday, whereas the average trading volume stands at 596,431 shares per day. Royale Energy, Inc. (NASDAQ:ROYL) currently has 13.05 million shares outstanding in the market with a market cap of $36.92 million and an institutional ownership of 9 percent of the total share capital.
Royale Energy, Inc. (NASDAQ:ROYL) is primarily engaged in independent production of oil and natural gas from its properties located mainly in California, Alaska, Oklahoma, Texas and Utah. The company operates two major segments of its business: one segment focusing on the marketing of direct working interests of the company and the other segment on the production and sale of oil and natural gas.
