Royal Energy Seals Drilling Deal in Ok.



Royal Energy has entered into an agreement which grants it a right of first refusal to participate in the next 25 wells drilled by North American Explorations. The drilling activity is limited to Washington County, Oklahoma and the participation rights are capped at a 25% working interest.

Jacob Roth, CEO of Royal Energy, stated, "With the rising price of oil, we believe these small stripper well projects could be quite profitable for our company considering the relatively low costs to drill the well."