SAN DIEGO, Sept. 27, 2012 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL) Co-CEO Stephen Hosmer spoke to delegates at the Alaska Oil and Gas Congress in Anchorage last week. While sharing the stage with CEO of Great Bear Petroleum Operating LLC, Ed Duncan discussed the results of their initial test wells (Alcor #1 and Merak #1) in which they cored portions of the Shublik, HRZ/GRZ, and Kingak shales, the source rock for Alaska's Prudhoe Bay oil field. "I can tell you with absolute confidence that where we thought we would find oil in these source rocks, we found oil." Duncan said among other comments, and stated that Great Bear will accelerate the development phase of their project by as much as a full year.
"The Oil's There"
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