Royale Energy, Inc. (ROYL) announced that the company has begun the first gas sales from their V Canyon 20-1 well, a 20,000 acre exploration block in the Uintah basin. In particular, this well was able to pump 1,100,000 cubic feet of oil per day, utilizing only one of the well’s multiple formations.
As weather conditions improve, Royale will begin additional drilling in their Entrada formation and the underlying Wingate formation.
In 2007 Royale drilled three deep tests into its 20,000 acre block in the Uintah Basin, Utah. One of these tests was at the northern limit of the acreage (V Canyon 20-1 well), a second well was drilled at the eastern flank of the acreage (Trail Canyon 1-2 well), while the third test was drilled on the southern part of the acreage (Ten Mile Canyon). Through these tests Royale believes it was able to confirm the prospectively of multiple potentially productive formations within its entire acreage block.
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