864839--3/27/2009--ROYALE_ENERGY

related topics

{gas, price, oil}

{cost, regulation, environmental}

{interest, director, officer}

{stock, price, operating}

{personnel, key, retain}

{cost, contract, operation}

We Depend on Market Conditions and Prices in the Oil and Gas Industry. Variance in Estimates of Oil and Gas Reserves could be Material. Future Acquisitions and Development Activities May Not Result in Additional Proved Reserves, and We May Not be Able to Drill Productive Wells at Acceptable Costs. The Oil and Gas Industry has Mechanical and Environmental Risks. Drilling is a Speculative Activity Even With Newer Technology. Breaches of Contract by Sellers of Properties Could Adversely Affect Operations. We May Not be Able to Acquire Producing Oil and Gas Properties Which Contain Economically Recoverable Reserves. We Require Substantial Capital for Exploration and Development. Profit Depends on the Marketability of Production. We Depend on Key Personnel. The Hosmer Family Exerts Significant Influence Over Stockholder Matters. The Oil and Gas Industry is Highly Competitive. Governmental Regulations Can Hinder Production. Minority or Royalty Interest Purchases Do Not Allow Us to Control Production Completely. Environmental Regulations Can Hinder Production.

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864839--3/27/2009--ROYALE_ENERGY_INC