The Victor Ranch #1-22 has been drilled and completed with a flow rate of 2,400,000 cubic feet of natural gas per day. Production will begin by the end of February. The company is a 50% working interest partner in three wells with operator Brigham Exploration (Nasdaq:BEXP). The Shasta #1 in Howard County, Texas has been drilled to a total depth of 10,000 feet and encountered oil in the Fusselman formation. The well has been completed and was put into production on Feb. 5, 2003. Total production from this well is expected to be 150 to 200 barrels of oil per day. The Casa Grande #2 has been drilled to a total depth of 12,000 feet and also discovered oil in the Fusselman formation. The well is being completed and is expected to produce at similar rates as the initial discovery well, Casa Grande #1, at 150 to 200 barrels of oil per day.
A completion in a new zone was done in December 2002 on the Sebestia-Cloud well and has resulted in a new oil and natural gas producer. The well has a flow rate of over 200 barrels of oil per day.
Royale is also a 50% partner in a 15 square mile 3D seismic survey with Brigham Exploration in the Gulf Coast of Texas.
Drilling will begin in February on four shallow natural gas Bowerbank wells that were generated from a 3D seismic survey conducted last year. In March, the deep Bowerbank oil prospect will be drilled. The Lonestar #4 and Crossroads wells will be drilled in the spring.
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