SAN DIEGO, Aug. 21, 2013 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL) today, in cooperation with Rampart Energy, is pleased to announce the results of a study performed by Netherland, Sewell & Associates, Inc. Worldwide Petroleum Consultants, (NSAI), www.netherlandsewell.com , to evaluate the prospective resources in their shale acreage on the North Slope of Alaska. Using available data from existing wellbore penetrations and analog shale plays, they determined that the acreage is a qualified Prospective Resource with an average recovery rate of 3,995 barrels of oil per acre from the combined shale intervals.
Based upon estimated drilling density of 160 acres per well, this equates to 639,119 barrels of oil per well drilled. Total Original Oil in Place and Total Recovery per acre is divided between the three intervals as follows:
|OOIP Total (BBL/acre)||EUR Total (BBL/acre)|
The report covers 96,882 acres including 39,539 acres that the companies have agreed to jointly develop (Western Block), 17,139 acres owned by Royale (Central Block) in which Rampart has future rights to acquire, and 40,204 acres (Eastern Block) owned exclusively by Royale. The table below represents the total Estimated Ultimate Recovery (EUR) from the combined acreage:
|EUR Total (MBBL)|