Volume/Price Surge: Royale Energy Inc. (ROYL)

Posted in pre-market 
June 24th, 2008

Royale Energy Inc. (NASDAQ: ROYL) is spiking to new 52-week highs this morning.  This stock made a move late yesterday from just over $10.00 to $11.00+ by the end of the day to close at $11.24 on a total of 1.8 million shares.  The news late yesterday was an operational update and a board of director election.  This morning shares are spiking up even higher with the last print at $12.16 on 275,000 shares as of 8:46 AM EST.

Before recently, its average daily volume was much lower but that average daily volume now sits at 683,000 shares and its market cap as of yesterday’s close was $89 million.   As a reminder, this is one of the very speculative independent oil and gas producers with operations (both producing and non-producing in California, Utah, Texas, Oklahoma, and Louisiana.  Its revenues for all of 2007 were $16.557 million and there are no analysts from major firms that follow the stock.

52-week range: $2.18 to $11.59.
Stock Options:     NO
Jon Ogg
June 24, 2008

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