SAN DIEGO, July 29, 2011 /PRNewswire/ -- Royale Energy, Inc. (NASDAQ: ROYL) today announced that it filed its form 10Q financial disclosure for the period ending June 30, 2011. Cashflow from operations for the first half grew from $155,435 in 2010 to $1,977,654 in 2011. Net income for second quarter 2011 increased to $259,347 from $76,853 in the first quarter 2011.
"This nearly 12 fold increase in cash-flow from operations is a result of our recent discoveries and improved margins," said Stephen Hosmer, the company's CFO and Co-CEO. Royale will provide additional discussion and analysis on their filing as well as future drilling plans through an earnings call to be scheduled next week.
About the Company
Headquartered in San Diego, Royale Energy, Inc. is an independent energy company. The company is focused on development, acquisition, exploration, and production of natural gas and oil in California, Texas and the Rocky Mountains. It has been a leading independent producer of oil and natural gas for over 20 years. The company's strength is continually reaffirmed by investors who participate in funding over 50% of the company's new projects. Additional information about Royale Energy, Inc. is available on its web site at www.royl.com.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.