SAN DIEGO, Sept. 10, 2015 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (ROYL) announced today changes to its senior management team. Jonathan Gregory has been appointed as Chief Executive Officer and Vice Chairman of the Board to spear-head a shift into an acquisition growth strategy for Royale. Donald Hosmer will be retaining his position as President – Business Development, and Stephen Hosmer remains as Chief Financial Officer and President. These changes will support this new growth strategy, and provide a streamlined process to evaluate and consider acquisition opportunities.
Jonathan Gregory joined the Board of Directors of Royale in June 2014. Prior to being appointed CEO and Vice Chairman, Jonathan was CFO of Americo Energy Resources, a private Houston based oil and gas company. Prior to this position, Mr. Gregory was Executive Vice President at Texas Capital Bank, directing the banks oil and gas lending operations in Houston. Mr. Gregory has spent a total of 25 years in the commercial banking sector, having been with Guaranty Bank and Bank One prior to his position at Texas Capital Bank.
Harry Hosmer, Chairman of the Board of Directors, commented, “Jonathan was a key addition to our board of directors in 2014, and in this current low price commodity environment, we believe that somebody with Jonathan’s skill set and relationships will be ideally positioned to help Royale take advantage of these opportunities. ”
Jonathan Gregory added, “Royale, like many independent oil and gas companies, faces a number of challenges in these current market conditions. Challenging times always present opportunity. Royale has survived through multiple cycles, and I believe that we will see many opportunities to both reposition and grow the Company.”
Mr. Gregory will remain in Houston, Texas where Royale will be establishing an office.
About Royale Energy, Inc.
Founded in 1986, Royale Energy, Inc. (ROYL) is an independent exploration and production company focused on the acquisition, development, and marketing of natural gas. Royale Energy has its primary operations in the Sacramento and San Joaquin basins in California.
Forward Looking Statements
In addition to historical information contained herein, this news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company’s actual results to differ materially from those in the “forward-looking” statements. While the company believes its forward looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company’s control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.