|From: msgreenacres (Rep: 168)||Date: 2012-04-13 09:14:29|
|Forum: Royale Energy - Thread #673387720||Msg #2235 - Part 1/1 (Rec: 0) |
|ROYL - Up in Premarket on news of procurement and drillling of Alaskan Land. |
The company has retained law firm to obtain permits to drill 3 to 6 new wells
Undervalued - Will soon be double digits
Royale Energy was high bidder on the largest total acreage in Alaska's Dec. 7 North Slope lease sale, taking 60 tracts in three blocks that cover more than 100,000 acres for $2.7 million. Royale is considering several potential partners, according to its vice president for exploration and production, Dr. Mohamed Abdel-Rahman. The company plans to drill as many as six evaluation wells next winter, two on each of its three lease blocks. Last month, Abdel-Rahman told the Anchorage Daily News, "The potential reward in Alaska is huge. No other shale opportunity comes close to this, not only in the Lower 48, but also in other parts of the world that we can access. This is a prime shale play."
These are my opinions. Please do your own DD. Happy Trading:)
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