Royale Energy Inc
For the period ended Dec 31, 2023. Filed Apr 12, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 12, 2024
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CONSOLIDATED STATEMENTS OF OPERATIONS
| 2023 | 2022 | |
|---|---|---|
| Revenues: | ||
| Sale of Oil and Gas | $2,114,026 | $2,611,222 |
| Supervisory Fees and Other | 46,568 | 31,315 |
| Total Revenues | 2,160,594 | 2,642,537 |
| Costs and Expenses: | ||
| Lease Operating | 1,731,670 | 1,928,521 |
| Impairment | 1,599,001 | - |
| Depreciation, Depletion and Amortization | 346,866 | 575,909 |
| Well Equipment Write down | 22,690 | - |
| General and Administrative | 1,725,015 | 1,808,197 |
| Legal and Accounting | 435,372 | 526,550 |
| Marketing | 350,425 | 259,101 |
| Total Costs and Expenses | 6,211,039 | 5,098,278 |
| Gain on Turnkey Drilling Programs | 2,107,500 | 1,726,414 |
| Loss from Operations | (1,942,945) | (729,327) |
| Other Income (Expense): | ||
| Interest Expense | (1,970) | (2,452) |
| Gain on Settlement of Payables | - | 422,614 |
| Other Gain | 112,728 | 163,571 |
| Loss Before Income Tax Expense | (1,832,187) | (145,594) |
| Net Loss | $(1,832,187) | $(145,594) |
| Basic and Diluted Loss Per Share | $(0.04) | $(0.02) |
| Weighted average number of common shares outstanding, basic and diluted | 65,758,185 | 58,472,340 |
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