Posted in General 
June 3rd, 2008

Royale Energy Inc. (NASDAQ: ROYL) shares are surging on major volume.  This is also after a major run yesterday taking it to at least two consecutive 52-week highs.  Yesterday shares rose from $5.79 on Friday to a close of $8.30 on 1,821,800 shares.  Before this, its average daily trading volume had been about 114,000 shares.

Shares are up 20% today after 25 minutes of trading and it has already seen about 2 million shares trade hands.

Royale is a micro-cap independent oil and natural gas producer based in San Diego with wells and leases located principally in the Sacramento Basin and San Joaquin Basin in California, as well as in Utah, Texas, and Louisiana.  Its revenues last quarter: $2.99 million.

Even after yesterday’s and today’s run, its market cap is only $80 million.

Jon C. Ogg
June 3, 2008

Leave a Reply

You must be logged in to post a comment.