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Royale Announces 3rd Quarter Profit

SAN DIEGO, Nov. 6, 2014 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL), today, announced its results for the third quarter of 2014, earning a net income of $206,313, or $0.01 per share basic and fully diluted on increased revenues. Total revenue for the quarter increased to $677,259 or a 2.7% increase over same period 2013. Total revenues for the nine months ending September 30, 2014 increased 45.3% from $1,772,368 to $2,575,129.

The year to date increase is chiefly due to a 26.4% increase in oil and natural gas production compounded with a stronger natural gas price, which averaged $4.83 for the first nine months of 2014 vs. $3.67 for the same period in 2013.

"With the connection of the McKinney well this week, we expect to build on these results with further increases in production," said Stephen Hosmer. "Our significant portfolio weighs heavily towards natural gas and is a strategy we will continue to pursue, particularly in light of softening oil prices."

The company will also drill 2 wells prior to year end.

Forward Looking Statements

In addition to historical information contained herein, this news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company's actual results to differ materially from those in the "forward-looking" statements. While the company believes its forward looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company's control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.

ROYALE ENERGY, INC.
STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2014 2013-restated 2014 2013-restated
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenues:
Sale of Oil and Gas $ 507,784 $ 498,838 $ 2,077,750 $ 1,286,834
Supervisory Fees and Other 169,475 160,496 497,379 485,534
Total Revenues 677,259 659,334 2,575,129 1,772,368
Costs and Expenses:
General and Administrative 858,137 753,227 2,280,268 2,309,441
Lease Operating 248,028 301,635 969,390 808,772
Delay Rentals 2,400 24,880 34,192 51,693
Lease Impairment 37,494 46,311 37,494 46,311
Geological and Geophysical Expense 0 24,997 0 24,997
Inventory Write Down 0 39,185 0 39,185
Legal and Accounting 39,030 26,509 307,433 278,973
Marketing 133,047 101,844 263,365 204,565
Depreciation, Depletion and Amortization 62,880 77,691 241,015 204,002
Total Costs and Expenses 1,381,016 1,396,279 4,133,157 3,967,939
Gain on Turnkey Drilling Programs 562,885 739,816 959,339 981,748
Gain on Sale of Assets 369,977 350,233 335,376 2,645,153
Income (Loss) From Operations 229,105 353,104 (263,313) 1,431,330
Other Income (Expense):
Interest Expense (22,792) (1,105) (60,085) (304,472)
Income (Loss) Before Income Tax Expense (Benefit) 206,313 351,999 (323,398) 1,126,858
Net Income (Loss) $ 206,313 351,999 (323,398) 1,126,858
Basic Earnings (Loss) Per Share $ 0.01 0.03 (0.02) 0.08
Diluted Earnings (Loss) Per Share $ 0.01 0.03 (0.02) 0.08
Other Comprehensive Income
Unrealized Gain (Loss) on Equity Securities $ (9,741) 9,945 (9,741) 9,945
Other Comprehensive Income, before tax
Income Tax Expense Related to Items of Other Comprehensive Income 0 0 0 0
Other Comprehensive Income (Loss), net of tax (9,741) 9,945 (9,741) 9,945
Comprehensive Income (Loss) $ 196,572 361,944 (333,139) 1,136,803
The notes to unaudited financial statements are an integral part of this financial statement.

CONTACT: Royale Energy, Inc. Chanda Idano, Director of Marketing & PR 619-383-6600 chanda@royl.com http://www.royl.comSource:Royale Energy