Royale Energy to Drill Gulf Coast Well With Basin Exploration

Royale Energy, Inc. has reached an agreement with Basin Exploration Inc. to participate in the drilling of the West Cameron 72 prospect. The West Cameron 72 prospect is located in offshore Louisiana at a water depth of 41 ft. The well will test for previously undeveloped gas from the West Cameron 72 field. The original field was discovered and produced in the early 1970's and 1980's. Total production from the field amounted to more than 70 billion cu.-ft. and one million barrels of liquid condensate out of the Miocene "Cris A" sands. Royale Energy has a 25 percent working Interest in the prospect with a short term option to acquire additional interest. Basin Exploration Inc. is the generator of this prospect.