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$ROYL/ COMPANY NEEDS 66 2/3% OF THE OUTSTANDING SHARES TO VOTE IN FAVOR OF THE MERGER
OF THE VOTES CAST TO DATE - OVER 98% ARE VOTING IN FAVOR OF THE MERGER
SAN DIEGO, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Royale Energy, Inc.
(ROYL) (the “Company” or “Royale”) reminds and urges its shareholders
to vote for the proposed merger with Matrix Oil Management before the upcoming annual meeting of Royale Energy shareholders, which will be held on Thursday, November 16, 2017.
Shareholders who have not already done so are strongly encouraged
to vote their shares in favor of the merger and all related proposals.
"We are pleased with the strong support for the proposals based on
the votes that have come in to date and urge all of
our shareholders to vote "For" the merger and related proposals.
To date over 12 million shares, representing 56% of the outstanding shares have voted, with 98% approval.
The Company must have "For" votes from more than 66 2/3% of all outstanding shares of Royale Energy common stock to obtain
approval of the merger," said Stephen M. Hosmer,
Secretary and Chief Financial Officer of Royale Energy.
Your vote is important, no matter how many or how few shares you
may own. Failure to vote or an abstention from voting will have the same effect as a vote "AGAINST" the merger proposal.
All shareholders are asked to vote "FOR" all proposals as soon as possible as the merger will not go forward unless all proposals
are approved.
If you are a Royale Energy shareholder and you have questions
or require assistance in submitting your proxy or voting your shares,
or wish to change a vote previously cast, please contact our proxy solicitor:
ADVANTAGE PROXY, INC.
Karen Smith
Toll Free: 1-877-870-8565
Collect: 1-206-870-8565
Email: ksmith@advantageproxy.com
Agreement and Plan of Merger and Reorganization
Royale and Matrix entered into an Amended and Restated Agreement
and Plan of Merger, dated effective December 31, 2016,
(the “Merger Agreement”) whereby Royale will acquire substantially
all of Matrix, and Matrix affiliated entities
in exchange for 50% of the common stock of Royale Energy Holdings, Inc., a newly formed Delaware corporation,
the assumption by Royale of Matrix’s $12.4 million of senior secured debt, and the issuance of $20 million of a newly
created 3.5% Series B Convertible Preferred Stock.
The Merger Agreement is subject to the approval of the shareholders
of both companies,
as well as other customary conditions and approvals,
including the consent of Matrix’s senior secured lender.
The mergers are expected to qualify for federal tax purposes as a
tax-free reorganization under Section 351 of the
Internal Revenue Code of 1986, as amended.
About Royale Energy, Inc.
Founded in 1986, Royale Energy, Inc. (ROYL) is an independent exploration and production company focused on the acquisition, development, drilling and marketing of oil and natural gas.
Royale typically sells fractional working interests to accredited investors in wells drilled by Royale.
Royale has its primary operations in the Sacramento and San Joaquin basins in California and has royalty interests in Alaska.
About Matrix Oil Management Corp.
Matrix is a private independent oil and natural gas production
company based in Santa Barbara, California.
The company formed in 1999 is focused on the acquisition and
development of long-life, low-risk producing oil leases that have drilling upside or operations optimization opportunities.
The company owns and operates oil-producing properties in the Los Angeles and San Joaquin Basins of California.
It owns non-operated natural gas producing properties in the
Sacramento Basin of California and oil-producing royalty and non-operated leases in the Permian Basin and Midland Basin.
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as “expects,” “believes,” “intends,” “anticipates,” “plans,” “estimates,” “potential,” “possible,” or “probable” or statements that certain actions, events or results “may,” “will,” “should,” or “could” be taken, occur or be achieved. The forward-looking statements include statements about future operations, estimates of reserve and production volumes, and the anticipated timing for closing the proposed merger. Forward-looking statements are based on current expectations and assumptions and analyses made by Royale and Matrix in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform with expectations is subject to a number of risks and uncertainties, including but not limited to: the possibility that the companies may be unable to obtain stockholder approval or satisfy the other conditions to closing; that problems may arise in the integration of the businesses of the two companies; that the acquisition may involve unexpected costs; the risks of the oil and gas industry (for example, operational risks in exploring for, developing and producing crude oil and natural gas); risks and uncertainties involving geology of oil and gas deposits; the uncertainty of reserve estimates; revisions to reserve estimates as a result of changes in commodity prices; the uncertainty of estimates and projections relating to future production, costs and expenses; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; health, safety and environmental risks and risks related to weather; further declines in oil and gas prices; inability of management to execute its plans to meet its goals, shortages of drilling equipment, oil field personnel and services, unavailability of gathering systems, pipelines and processing facilities and the possibility that government policies may change. Royale’s annual report on Form 10-K/A for the year ended December 31, 2016, quarterly reports on Form 10-Q, recent current reports on Form 8-K, and other Securities and Exchange Commission (“SEC”) filings discuss some of the important risk factors identified that may affect its business, results of operations, and financial condition. Royale and Matrix undertake no obligation to revise or update publicly any forward-looking statements, except as required by law.
I bought my 3000 shares at multiple dollars, sitting at a big loss
Not many on this thread. All the recent wells have hit pay and company soon cash flow positive. There is money to drill a lot of wells and oil $50 a barrel. THE MERGER WILL CLOSE AND a lot of potential. PATIENCE
Royale Energy, Inc. (ROYL)
0.365 ? 0.0 (0.00%)
Volume: 0 @- ET
Bid Ask Day's Range
0.37 0.42 - - -
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.3995 ? -0.0205 (-4.88%)
Volume: 29,113 @ 1:35:44 PM ET
Bid Ask Day's Range
0.3995 0.43 0.39 - 0.4275
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.41985 ? 0.02985 (7.65%)
Volume: 15,308 @ 2:10:50 PM ET
Bid Ask Day's Range
0.39 0.4397 0.3999 - 0.41985
ROYL Detailed Quote
Someone is liquidating about 120,000 shares or so. Very good things are going to happen. I am buying now again.
$ROYL i haven't seen any for now. good assets though. Royale Energy Inc (ROYL)'
Any insights into the merger pending?
%ROYL the company has good holding as i remember $ROYL DUNNO PROJECTION
RE;
Any sense what can be a reasonable price objective here, Mick?
Thanks...
Any sense what can be a reasonable price objective here, Mick?
Thanks...
Royale Energy, Inc. (ROYL)
0.4692 ? 0.0192 (4.27%)
Volume: 19,666 @ 3:57:10 PM ET
Bid Ask Day's Range
0.46 0.5 0.45 - 0.5
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.57 ? -0.01 (-1.72%)
Volume: 5,014 @ 1:11:17 PM ET
Bid Ask Day's Range
0.5501 0.59 0.57 - 0.595
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.595 ? 0.005 (0.85%)
Volume: 1,160 @ 12:08:08 PM ET
Bid Ask Day's Range
0.595 0.63 0.5875 - 0.601
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.64 ? 0.0075 (1.19%)
Volume: 42,099 @ 3:44:07 PM ET
Bid Ask Day's Range
0.64 0.7 0.6325 - 0.65
ROYL Detailed Quote
merger ????? 'Royale Energy Inc (ROYL)'
Royale Energy, Inc. (ROYL)
0.74 ? 0.0 (0.00%)
Volume: 30,139 @ 3:57:14 PM ET
Bid Ask Day's Range
0.72 0.75 0.7 - 0.75
ROYL Detailed Quote
Higher O&G prices, accretive merger, better O&G mix BOEPD. What's not to like? ROYL a buy at this point IMHO.
They sounded pretty optimistic about relisting with Nasdaq. To do so, among other things, the sp will have to be above $1. Sounds good to me!
Wow what is next? $1.00 per share soon? A lot of assets.
Royale Energy, Inc. (ROYL)
0.63 ? -0.032 (-4.83%)
Volume: 16,743 @ 3:21:08 PM ET
Bid Ask Day's Range
0.63 0.67 0.63 - 0.658
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.6303 ? -0.0197 (-3.03%)
Volume: 11,700 @ 3:53:16 PM ET
Bid Ask Day's Range
0.63 0.66 0.63 - 0.6576
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.5902 ? -0.0098 (-1.63%)
Volume: 16,410 @ 3:56:58 PM ET
Bid Ask Day's Range
0.59 0.61 0.5902 - 0.61
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.59 ? -0.0151 (-2.50%)
Volume: 20,869 @ 3:59:58 PM ET
Bid Ask Day's Range
0.555 0.62 0.59 - 0.611
ROYL Detailed Quote
http://investorshub.advfn.com/Royale-Energy-Inc-ROYL-4004/
First JV well at Rio Vista field is drilled and results good enough to complete and test. More wells to come. Looking good!
Royale Energy, Inc. (ROYL)
0.65 ? 0.0 (0.00%)
Volume: 1,828 @ 3:25:07 PM ET
Bid Ask Day's Range
0.66 0.67 0.65 - 0.658
ROYL Detailed Quote
Royale Energy, Inc. (ROYL)
0.68 ? 0.0 (0.00%)
Volume: 9,668 @ 2:08:18 PM ET
Bid Ask Day's Range
0.68 0.6954 0.68 - 0.6954
ROYL Detailed Quote
#2/ http://www.otcmarkets.com/stock/ROYL/quote / Market Value1 $12,683,997 a/o Jul 25, 2016
Business Description
Founded in 1986, Royale Energy, Inc. (OTCQB: ROYL) is an independent exploration and production company focused on the acquisition, development, and marketing of natural gas. Incorporated under the laws of the State of California, Royale Energy owns and operates wells in the Sacramento and San Joaquin basins in California and in the U.S. Gulf Coast. It markets approximately 1,500,000 cubic feet of natural gas per day to its customers.
ROYL Security Details
Share Structure
Market Value1 $12,683,997 a/o Jul 25, 2016
Authorized Shares 30,000,000 a/o Nov 30, 2015
Outstanding Shares 17,616,663 a/o Mar 14, 2016
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available
Par Value No Par Value
Transfer Agent(s)
American Stock Transfer & Trust Company
Shareholders
Shareholders of Record 7,736 a/o Mar 31, 2015
Corporate Actions
Ex. Date Record Date Pay Date
Dividend () Feb 14, 2007 Feb 19, 2007 Mar 05, 2007
Dividend (0.05) Feb 14, 2007 Feb 19, 2007 Mar 05, 2007
Dividend (0.00) Jul 02, 2004 Jun 30, 2004 Jul 15, 2004
Dividends are not adjusted for stock splits
Security Notes
Capital Change=Stk. Div.=28%. Ex-date=07/16/2004. Rec date=06/30/2004. Pay date=07/15/2004.
Capital Change=10-25-94 shs decreased by 1 for 2 reverse split
Capital Change=Stk. Div.=15%. Ex-date=05/23/2001. Rec date=05/25/2001. Pay date=05/23/2001.
Capital Change=Stk. Div.=15%. Ex-date=05/29/2002. Rec date=05/31/2002. Pay date=07/01/2002.
Capital Change=Stk. Div.=3.75%. Ex-date=06/26/2003. Rec date=06/30/2003. Pay date=07/14/2003.
Capital Change=Stk. Div.=3.75%. Ex-date=09/26/2003. Rec date=09/30/2003. Pay date=10/15/2003.
Capital Change=Stk. Div.=3.75%. Ex-date=12/29/2003. Rec date=12/31/2003. Pay date=01/15/2004.
Capital Change=Stk. Div.=3.75%. Ex-date=03/29/2004. Rec date=03/31/2004. Pay date=04/14/2004.
Capital Change=Stk. Div.=6.5%. Ex-date=06/28/2004. Rec date=06/30/2004. Pay date=07/15/2004.
Capital Change=Stk. Div.=21.5%. Ex-date=07/02/2004. Rec date=06/30/2004. Pay date=07/15/2004.
Note = Delisted from Nasdaq on 1-21-2016
Capital Change=Stk. Div.=28%. Ex-date=07/16/2004. Rec date=06/30/2004. Pay date=07/15/2004.
Short Selling Data
Short Interest 9,375 (46.67%)
Jun 30, 2016
Significant Failures to Deliver No
http://www.otcmarkets.com/stock/ROYL/quote
Real-Time Level 2 Quote Montage
MPID
Bid Price
Size
Date/Time
CSTI 0.77 3000 12:01
ETRF 0.755 1000 12:01
NITE 0.75 1000 11:59
PUMA 0.61 1000 08:40
CDEL 0.49 10000 12:06
CANT 0.225 2500 08:30
MAXM 0.01 10000 08:27
ARCA U 08:00
MPID
Ask Price
Size
Date/Time
NITE 0.79 7000 12:06
ETRF 0.799 1000 12:01
CDEL 0.82 3697 12:06
CSTI 0.90 10000 12:01
PUMA 0.90 1000 08:40
ARCA 0.94 1600 08:00
MAXM 1.50 100 09:43
CANT 200.00 1 08:30
41 MILLION DOLLAR DEAL. 'Royale Energy Inc (ROYL)'
Great merger news, awesome chart, and this stock is still flying under the radar. I expect whales to get in on the stock soon.
http://www.nasdaq.com/press-release/royale-energy-signs-letter-of-intent-to-merge-with-matrix-oil-corp-20160725-00534
Royale Energy, Inc. (ROYL)
0.55 ? 0.0589 (11.99%)
Volume: 65,175 @ 4:00:19 PM ET
Bid Ask Day's Range
0.55 0.59 0.5 - 0.55
ROYL Detailed Quote
What's the deal here? Low volume but the chart looks great, like it could be one of those low volume 2,000% poppers.
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/22/2016 08:32:53 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/21/2016 11:51:35 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/20/2016 12:05:10 PM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:48:53 AM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:41:13 AM
Royale Energy, Inc. (ROYL)
0.4076 ? 0.0101 (2.54%)
Volume: 22,538 @ 3:45:42 PM ET
Bid Ask Day's Range
0.3975 0.4076 0.3975 - 0.45
ROYL Detailed Quote
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/22/2016 08:32:53 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/21/2016 11:51:35 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/20/2016 12:05:10 PM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:48:53 AM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:41:13 AM
Royale Energy, Inc. (ROYL)
0.414 ? -0.0012 (-0.29%)
Volume: 20,513 @ 3:57:17 PM ET
Bid Ask Day's Range
0.3951 0.414 0.3951 - 0.445
ROYL Detailed Quote
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/22/2016 08:32:53 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/21/2016 11:51:35 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/20/2016 12:05:10 PM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:48:53 AM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:41:13 AM
Royale Energy, Inc. (ROYL)
0.376 ? 0.0 (0.00%)
Volume: 100 @ 9:30:00 AM ET
Bid Ask Day's Range
0.4 0.46 0.376 - 0.376
ROYL Detailed Quote
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/22/2016 08:32:53 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/21/2016 11:51:35 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/20/2016 12:05:10 PM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:48:53 AM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:41:13 AM
Royale Energy, Inc. (ROYL)
0.36 ? -0.04 (-10.00%)
Volume: 5,362 @ 3:57:11 PM ET
Bid Ask Day's Range
0.38 0.415 0.36 - 0.415
ROYL Detailed Quote Wiki
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/21/2016 11:51:35 AM
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/20/2016 12:05:10 PM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:48:53 AM
ROYL News: Amended Statement of Changes in Beneficial Ownership (4/a) 01/20/2016 11:41:13 AM
Royale Energy, Inc. (ROYL)
0.4301 ? 0.0071 (1.68%)
Volume: 40,916 @ 1:24:05 PM ET
Bid Ask Day's Range
0.43 0.46 0.423 - 0.48
ROYL Detailed Quote Wiki
ROYL News: Statement of Changes in Beneficial Ownership (4) 01/22/2016
I should have taped money to a rock and threw it in the ocean. What a LOAD of junk
Royal E Hosed!
I'm sure this company is run by Oboma.
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Welcome to Royale Energy Inc. (ROYL) Board!!!
Target Price | 14.91 |
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