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ROYL on OTC

Royale Energy, Inc.

Royale Energy, Inc. is an American crude petroleum and natural gas company based in El Cajon.1 Its shares trade on OTC under the symbol ROYL.1

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Last updated Oct 21, 2026.

Overview

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  • TickerROYL on OTC1
  • IndustryCrude Petroleum & Natural Gas1
  • HeadquartersEl Cajon, California1
  • Incorporated inDE2
  • Business address1530 Hilton Head Rd, El Cajon, Ca 920192
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-46.9%Operating margin3
-64.3%Net margin3
-13.9%Revenue growth, 20253
-$4.2MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Oil and Gas brought in 98% of the revenue Royale Energy, Inc. broke down this way in fiscal 2025.

  1. Oil and Gas$1.9M398%down 14% from 2024
  2. Management Service$20.8K31%up 28% from 2024
  3. Supervisory Services$20.8K31%up 28% from 2024
Products and services by year
Products and services20242025
Oil and Gas$2.2M$1.9M
Management Service$16.3K$20.8K
Supervisory Services$16.3K$20.8K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$1.9M

Out of $1.9M in revenue.3 The company lost money this year.

Financial statements

Revenue456783$1.9M in 2025−34% since 2019
0$1.0M$2.0M$3.0M2019: $3.0M$3.0M20192020: $1.6M$1.6M2020−46%2021: $1.7M$1.7M2021+8%2022: $2.6M$2.6M2022+54%2023: $2.2M$2.2M2023−18%2024: $2.3M$2.3M2024+5%2025: $1.9M$1.9M2025−14%
Operating income456783-$913.7K in 2025+8% since 2019
-$4.0M-$3.0M-$2.0M-$1.0M02019: -$845.1K-$845.1K20192020: -$2.7M-$2.7M2020+216%2021: -$3.7M-$3.7M2021+37%2022: -$729.3K-$729.3K2022−80%2023: -$1.9M-$1.9M2023+166%2024: -$1.9M-$1.9M2024−1%2025: -$913.7K-$913.7K2025−52%
Net income456783-$1.3M in 2025+259% since 2019
-$10.0M-$7.5M-$5.0M-$2.5M02019: -$348.4K-$348.4K20192020: -$8.1M-$8.1M2020+2239%2021: -$3.6M-$3.6M2021−56%2022: -$145.6K-$145.6K2022−96%2023: -$1.8M-$1.8M2023+1158%2024: -$2.2M-$2.2M2024+18%2025: -$1.3M-$1.3M2025−42%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-12-312024-12-31
Revenues$1.9M$2.3M
Oil and Gas Lease Operating$1.3M$2.0M
Severance Taxes$73.4K$81.8K
Impairment$27.2K$400.7K
Depreciation, Depletion, Amortization, and Accretion$259.4K$308.5K
Settlement of Asset Retirement Obligation-$18.7K$0
General and Administrative$1.6M$1.6M
Credit Loss Expense$137.2K$450.7K
Legal and Accounting$446.6K$582.4K
Marketing$302.5K$347.0K
Total Costs and Expenses$4.2M$5.8M
Gain on Turnkey Drilling Programs$1.3M$1.6M
Loss from Operations-$913.7K-$1.9M
Interest Expense-$404.1K-$304.9K
Interest Income$66.1K$46.5K
Gain on Sale of Assets$0$17.5K
Total Other Expense (net)-$338.0K-$240.8K
Net Loss-$1.3M-$2.2M
Basic Loss Per Share (in Dollars per share)-$0.01-$0.03
Diluted Loss Per Share (in Dollars per share)-$0.01-$0.03
Weighted average number of common shares outstanding, basic and diluted (in Shares)96.6M shares77.3M shares
Weighted average number of common shares outstanding, basic and diluted (in Shares)96.6M shares77.3M shares

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What it owns

What Royale Energy, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.1M8 Dec 31, 2024$1.1M8 Dec 31, 20230%
Accumulated depreciation$1.1M3 Dec 31, 2025$1.1M3 Dec 31, 2024+0.2%
Operating-lease assets (leased space)$141.4K3 Dec 31, 2025$238.5K3 Dec 31, 2024−40.7%
Oil and gas properties$5.8M3 Dec 31, 2025$4.7M3 Dec 31, 2024+24.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.1M3 Dec 31, 2025$1.9M3 Dec 31, 2024−41.5%

Properties, in its own words

Since 1993, Royale had concentrated on development of properties in the Sacramento Basin and the San Joaquin Basin of Northern and Central California. In the last few years it has moved its focus to Mitchell County and Ector County, Texas. In 2025, Royale participated in the drilling of one gross (0.0035 net) oil well in Texas which was productive.

Following industry standards, Royale generally acquires oil and natural gas acreage without warranty of title except as to claims made by, though, or under the transferor. In these cases, Royale attempts to conduct due diligence as to title before the acquisition, but it cannot assure that there will be no losses resulting from title defects or from defects in the assignment of leasehold rights. Title to property most often carries encumbrances, such as royalties, overriding royalties, carried and other similar interests, and contractual obligations, all of which are customary within the oil and natural gas industry.

The rest of Item 2

Following is a discussion of Royale’s significant oil and natural gas properties. Reserves at December 31, 2025, for each property discussed below, have been determined by Netherland, Sewell & Associates, Inc., registered professional petroleum engineers, in accordance with reports submitted to Royale on March 11, 2026.

Texas

At December 31, 2025, Royale owned and operated interests in 26 oil wells in its Jameson field. Additionally, Royale owns interests in eight non-operated oil wells in the Permian Basin in Texas and three non-operated gas wells, two located in Oklahoma and one located in Texas. Our Texas estimated total producing, developed, and undeveloped reserves are approximately 919.6 thousand barrels of oil equivalent (“MBOE”), according to Royale’s independently prepared reserve report as of December 31, 2025. Barrel of oil equivalent or BOE is determined using a ratio of six Mcf of natural gas equal to one barrel of oil equivalent. The ratio does not assume price equivalency and, given price differentials, the price for a BOE for natural gas differs significantly from the price for a barrel of oil. A barrel of NGL also differs significantly in price from a barrel of oil.

California

Royale owns interests in nine gas fields with locations ranging throughout the Sacramento Basin in California. At December 31, 2025, Royale operated 10 wells and owns interests in 12 non-operated gas wells in Northern California and 8 non-operated oil wells in Southern and Central California. Our California estimated total proved, developed, and undeveloped net reserves are approximately 0.170 BCFE, according to Royale’s independently prepared reserve report as of December 31, 2025.

Developed and Undeveloped Leasehold Acreage

As of December 31, 2025, Royale owned leasehold interests in the following developed and undeveloped properties in both gross and net acreage.

Developed · Undeveloped

Gross Acres · Net Acres · Gross Acres · Net Acres

Texas · 23,035.00 · 8,632.75 · 9,170.00 · 687.75

California · 2,401.02 · 1,784.84 · 3,097.25 · 996.80

Total · 25,436.02 · 10,417.59 · 12,267.25 · 1,684.55

Gross and Net Productive Wells

As of December 31, 2025 and 2024, Royale owned interests in the following oil and gas wells in both gross and net:

Gross Wells · Net Wells · Gross Wells · Net Wells

Natural Gas · 25 · 10.2366 · 26 · 10.0838

Oil · 42 · 22.0245 · 40 · 21.1191

Total · 67 · 32.2611 · 66 · 31.2029

Drilling Activities

The following table sets forth Royale’s drilling activities during the years ended December 31, 2025 and 2024. All wells are located in the continental U.S., in California and Texas.

Gross Wells(b) · Net Wells(e)

Year · Type of Well(a) · Total · Producing(c) · Dry(d) · Producing(c) · Dry(d)

2025 · Exploratory · 0 · 0 · 0 · 0 · 0

Developmental · 1 · 1 · 0 · 0.0035 · 0

2024 · Exploratory · 0 · 0 · 0 · 0 · 0

Developmental · 4 · 4 · 0 · 0.0722 · 0

2023 · Exploratory · 0 · 0 · 0 · 0 · 0

Developmental · 4 · 3 · 1 · 0.3321 · 0.5679

a) · An exploratory well is one that is drilled in search of new oil and natural gas reservoirs, or to test the boundary limits of a previously discovered reservoir. A developmental well is one drilled on a previously known productive area of an oil and natural gas reservoir with the objective of completing that reservoir.

b) · Gross wells represent the number of actual wells in which Royale owns an interest. Royale’s interest in these wells may range from 1% to 100%.

c) · A producing well is one that produces oil and/or natural gas that is being purchased on the market.

d) · A dry well is a well that is not deemed capable of producing hydrocarbons in economic quantities.

e) · One “net well” is deemed to exist when the sum of fractional ownership working interests in gross wells or acres equals one. The number of net wells is the sum of the fractional working interests owned in gross wells expressed as a whole number or a fraction.

Production

The following table summarizes, for the years indicated, Royale’s net share of oil and natural gas production, average sales price per barrel (BBL), per thousand cubic feet (MCF) of natural gas, and the MCF equivalent (MCFE) for the barrels of oil based on a 6 to 1 ratio of the price per barrel of oil to the price per MCF of natural gas. “Net” production is production that Royale owns either directly or indirectly through partnership or joint venture interests produced to its interest after deducting royalty, limited partner or other similar interests. Royale generally sells its oil and natural gas at prices then prevailing on the “spot market” and does not have any material long term contracts for the sale of natural gas at a fixed price.

2025 · 2024 · 2023

Net volume

Oil (BBL)

California · 3,597 · 4,779 · 4,768

Texas · 22,366 · 21,777 · 17,615

Other · 13 · 13 · 16

Total Oil · 25,976 · 26,570 · 22,399

Gas (MCF)

California · 54,489 · 58,642 · 72,167

Texas · 60,924 · 56,153 · 53,772

Other · 1,806 · 1,610 · 2,221

Item 2 of the 10-K filed Jul 13, 2026.11

Leadership

Who has led Royale Energy, Inc., and when. Pick a name to see everywhere that person has worked.

Chief financial officer

  1. Stephen M. Hosmer2018–2020
20202025
Board members and other officers (11)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • CEO, President, COO, DirectorJohnny Mark Jordan named Sep 29, 2025 to Aug 28, 202624
  • Executive Chairman of the BoardJonathan Mark Gregory named Sep 29, 2025 to Aug 28, 202624
  • CFORonald Mark Lipnick named Aug 2, 2023 to Aug 28, 202624
  • CEO, COO and PresidentJohnny Jordan named May 17, 2022 to Jan 17, 202425
  • Interim Chief Financial OfficerRonald Lipnick named May 17, 2022 to Dec 21, 202226
  • Chairman of the BoardChris Parada named May 17, 2022 to Aug 28, 202624
  • DirectorJohn Mark Sullivan named Sep 29, 2025 to Aug 28, 202624
  • Chairman of the BoardJohn Sullivan named May 17, 2022 to Jan 17, 202425
  • Vice-Chairman of the BoardJonathan Gregory named May 17, 2022 to Jan 17, 202425

Former names

  • Royale Energy Holdings, Inc.Feb 14, 2017 to Mar 8, 20182

Timeline

  1. Sep 9, 20268-K Other events27
  2. Sep 1, 20268-K Other events28
  3. Jul 13, 20268-K Financial statements and exhibits29
  4. Apr 10, 20268-K Executive or director change30
  5. Feb 17, 20268-K Regulation FD disclosure31
  6. Jan 5, 20268-K Regulation FD disclosure32
  7. Nov 3, 20258-K Change of auditor33
  8. Sep 17, 20258-K Regulation FD disclosure34
  9. Sep 10, 20258-K Entered a material agreement; Completed an acquisition or sale; Regulation FD disclosure35
  10. Sep 9, 20258-K Regulation FD disclosure36
  11. Dec 12, 20248-K Regulation FD disclosure37
  12. Oct 17, 20248-K Entered a material agreement; New debt or obligation; Unregistered sale of shares38

Filings

75 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 24 major events, 4 insider forms, 11 private raises, 16 other. The latest 20:

  1. Sep 9, 20268-K EDGAR
  2. Sep 1, 20268-K EDGAR
  3. Aug 31, 202610-Q EDGAR
  4. Aug 31, 202610-Q EDGAR
  5. Aug 28, 2026D EDGAR
  6. Aug 18, 2026NT 10-Q EDGAR
  7. Jul 17, 2026NT 10-Q EDGAR
  8. Jul 13, 20268-K/A FORM 8-K/A1 EDGAR
  9. Jul 13, 202610-K EDGAR
  10. Apr 10, 20268-K EDGAR
  11. Apr 2, 2026NT 10-K EDGAR
  12. Feb 17, 20268-K EDGAR
  13. Jan 5, 20268-K EDGAR
  14. Nov 26, 2025D/A EDGAR
  15. Nov 26, 202510-Q EDGAR
  16. Nov 17, 2025NT 10-Q EDGAR
  17. Nov 3, 20258-K EDGAR
  18. Sep 29, 2025D EDGAR
  19. Sep 17, 20258-K EDGAR
  20. Sep 10, 20258-K EDGAR

The 75 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$4.3M 2020–2026
Money received by yearMoney received by year, 2020–2026: $4.3M in all. Private raises (Form D) $4.1M; PPP loans $207.8K.$0$1M$2M$3M$4M2020 · PPP loans: $207.8K20202022 · Private raises (Form D): $3.7M20222023 · Private raises (Form D): $100.0K2024 · Private raises (Form D): $125.0K20242025 · Private raises (Form D): $50.0K2026 · Private raises (Form D): $100.0K2026
Figures by year
YearPrivate raises (Form D)PPP loansTotal
2026$100.0K–$100.0K
2025$50.0K–$50.0K
2024$125.0K–$125.0K
2023$100.0K–$100.0K
2022$3.7M–$3.7M
2020–$207.8K$207.8K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Aug 26, 2026Raised $100,000 in a private offering of securities24 Form D: $9.1 million offered in all Form D
  2. Sep 24, 2025Raised $50,000 in a private offering of securities39 Form D: $5.7 million offered in all Form D
  3. Nov 25, 2024Raised $25,000 in a private offering of securities40 Form D: $5.7 million offered in all Form D
  4. Jan 1, 2024Raised $100,000 in a private offering of securities25 Form D: $5.7 million offered in all Form D
  5. Jul 27, 2023Raised $100,000 in a private offering of securities41 Form D: $5.7 million offered in all Form D
  6. Dec 20, 2022Raised $312,500 in a private offering of securities26 Form D: $5.7 million offered in all Form D
  7. May 19, 2022Raised $400,050 in a private offering of securities42 Form D: $4.4 million offered in all Form D
  8. Jan 3, 2022Raised $3 million in a private offering of securities43 Form D: $4.2 million offered in all Form D

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA44. Matched to this company by name and state.

  1. Apr 13, 2020$207.8K PPP loan (first draw) from California Bank of Commerce, NA44To ROYALE ENERGY INC, El Cajon CA; $208.9K forgiven Feb 12, 2021

SEC filer profile

How Royale Energy, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARRoyale Energy, Inc.1
  • CIK0001694617
  • Employer ID (EIN)81-459636811
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company11
  • Incorporated inDelaware11
  • Fiscal year endsDecember 311
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address1530 Hilton Head Rd, El Cajon, CA 920191
  • Phone(619) 881-28001
  • Shares outstanding96,600,302 as of Aug 25, 202610
  • Public float$1.5M as of Jun 30, 202511
  • AuditorHORNE LLP, Houston, Texas PCAOB ID 243; no auditor attestation of internal control over financial reporting11
  • On EDGAR sinceFeb 14, 20171
  • Filings308 in all: 4 (113), 8-K (49), 10-Q (26), D (16), 3 (14), NT 10-Q (12), 4/A (10), CORRESP (9)1
    All 27 form types

    10-K (8), DEF 14A (6), NT 10-K (6), S-4/A (6), D/A (5), UPLOAD (5), 144 (4), 425 (4), PRE 14A (3), 8-K/A (2), DEFR14A (2), 3/A (1), 424B5 (1), 5 (1), 8-A12G (1), CT ORDER (1), EFFECT (1), S-4 (1), S-8 (1)

  • Latest filingsAnnual report (10-K) Jul 13, 2026
    Quarterly report (10-Q) Aug 31, 2026
    Proxy statement (DEF 14A) Oct 11, 2023
    Latest 8-K (8-K) Sep 9, 2026

Risk factors and legal proceedings

Legal proceedings

From time to time, the Company may be involved in various legal proceedings or may be subject to claims that arise in the ordinary course of business. The outcome of any such claims or proceedings cannot be predicted with certainty. As of the date of this filing, management is not aware of any such claims against the Company.

The opening of Item 3, Legal Proceedings.11

Sources

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    SEC EDGAROther events
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    SEC EDGAROther events
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