2.00
Royale Energy Website
Royale Energy Overview
Founded in 1986, Royale Energy, Inc. is an independent exploration and production company focused on the acquisition, development, and marketing of oil and natural gas. The company owns wells in California’s Sacramento and Los Angeles basins and in the Permian basin in Texas.
Address
San Diego,
California
Year Founded
1986
Operates In
California
Asset Classes
Oil & Gas
Accepted Investors
Accredited
Terence C.
2.00
"Not exactly a gushing success.... "
While my investment in the Black Gold IV fund hasn't been a complete bust - it has certainly been extremely disappointing. The best return so far was the tax credit I got. Beyond that, things have been slow and underperforming. The wells were supposed to be completed within 1 year of funding, but I am still waiting for all of them. It took over a year to get the first well drilled, and then there was nothing for an extended period. The second well just started production almost 2 years after funding. And I am still waiting for the final drilling to complete. Communication has been poor / sporadic with limited information being presented as part of the newsletter updates. There has been no webinars and little proactive communication about the delays. In addition returns from the wells have been well under projections. Some of this is due to low oil prices, but looking at a 10yr+ payback time on an O&G investment is well below what I would expect.
