Royale Energy, Inc. (NASDAQ: ROYL) 26.4% HIGHER; today released the test results of the Goddard 7-1. On Oct 15 the company announced a new field discovery near its successful Lonestar field.
This week's completion activities resulted in a stabilized flow rate of 2,450 MCF per day on a restricted choke.
Based on these results the well is capable of significantly higher producing rates, and the company expects to begin production at an initial rate of 2,500 MCF per day.
The first follow up to the Goddard discovery began drilling Oct 28.
initial rateMorning Movers 11/05: ROYL, RX, FSYS, KAI, SANM Higher; SMSI, CV...StreetInsider.com News Articles Thu, 11/05/2009 - 09:52
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