The exploration and production industry almost always garners considerable attention from investors and if you are currently looking for options then it might be a good idea to take a look into Royale Energy Inc (OTCMKTS:ROYL).
It is an independent explorer and producer and is based out of San Diego in California. There has not been any recent news about the company and hence, investors might not have a lot to go on. However, back on June 9 last year, the company had made a major announcement and it might be a good move to look into it.
The company announced at the time that it had completed the necessary work and then started production from two low cost vertical oil wells at the North Jamieson field. The field in question is situated at the Permian Basin in Nolan County in Texas.
In this context, it is perhaps also important to point out that the two oil wells had been identified by the company by using 3D seismic surgery. While it is true that there has not been any fresh news about the company, it might still be a company to keep an eye on at this point in time.
Another Oil & Gas stock to keep on eye is Allied Energy Corp.(OTCMKTS:AGYP)
Allied Energy Corp.’s (OTCMKTS:AGYP) long investors are buying the dip as the stock closed yesterday at $0.3710 in light volume of 127,244. Shares on Monday were 8.14% green to reach $0.4000 in heavy trading volume. AGYP reported a positive Q2 financial report which showed a strategy of large cuts in operational and net losses through dramatically cut expenses. Free cash flow created was then reinvested back into the Company’s primary activity: leasing oil wells and applying new technology to make them commercially new again. AGYP’s management team and long term investors see a bright future.
Analyst predictions that AGYP was among oil and gas stocks to watch in August have borne truth. Media reports of the importance of domestic oil and gas was underscored by the scenes in Afghanistan the past few days.