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Stock Informatlon
<br />The common stock of Rrnal Resources 15 traded on the
<br />national over-the-counter market and is listed wider the
<br />National Market System. The trading symbol is FtRCO. The
<br />following table shows the high and low closing bid prices for
<br />Royal's stock fur each quarter since luly 1, 19ri?, along with
<br />the average volume of shares traded (or each quarter.
<br />Quarter Ended High Bid Low Bid Volume
<br />1982
<br />September 30 $ 7'/, 5 SSA 201,541
<br />December 31 $ 7'/, S Sr,H 262,918
<br />1983
<br />h1arch 31 $ 7%n $ 6Y.•, 323,533
<br />tune 30 $17'/n S bib 35U,365
<br />September 30 $17S/n $13 261,638
<br />December 31 $18'/, $1 I!6 264,230
<br />1984
<br />March 31 $13'/, $10'4 142,275
<br />June 30 $10`i, $ 8%a 1 ]9,269
<br />September 30 $13're $ 9'/,, 209,419
<br />December 31 $11'ra $ 7'Lv 192,675
<br />1985
<br />March 31 $ i7n $ 5'/• 280,173
<br />lone 30 $ 6'/fi $ 4'/, 236,862
<br />September 30 $ 5!/, $ 3'/n 262,191
<br />December 31 $ 4r.~ $ 2'/. 394.944
<br />1986
<br />March 30 $ 3;a $ Is/„ 210,878
<br />lone 30 $ 3 %, $ 2 239,308
<br />At the close of trading on October 1, 1986, the cock closed
<br />at $3'h.
<br />Nule' The above cWulalionb were lu rn fished by the NaOnnal As~oaafion u(
<br />Sequihc~ Dealers, Inc ^nd du nut find uric retail markup, inarkduwm ur
<br />uimms>ium. Nu drcidends bare 6cen pawl anre inception
<br />Market Makers
<br />As of July 31, 1986, the following brokerage firms v`~ere
<br />market makers in the common stock of Royal.
<br />Boettcher R Company
<br />Denver, Colorado
<br />Merrill Lynch
<br />New York, Neva York
<br />Sherwood Securities Corporation
<br />Denver, Colorado
<br />J.J.B, Hilliard, W.L. Lyons, Inc.
<br />Louisville, Kentucky
<br />\Nedbush, Noble, Cooke
<br />Denver. Colorado
<br />Herzog, Heine, Geduld
<br />New York, New fork
<br />Janney Montgomery Scott
<br />Philadelphia, Pennsylvania
<br />Truster Singer Stevens
<br />jersey City, New jersey
<br />Branch, Cabell R Co.
<br />Richmond, Virginia
<br />Morgan Olmstead Kennedy
<br />New York, New fork
<br />Dean Witter Reynolds
<br />New Yurk, New York
<br />Shares Outstanding
<br />At June 3Q 1986, there were 6,155,461 shares of common
<br />stock outstanding. Approximately 134,093 shares are held by
<br />officers and directors o(the Company.
<br />Number of Stockholders
<br />As of June 30, 1986, there were approximately 2,375
<br />stockholders of the Company's common stock.
<br />American Stock Transfer Company
<br />99 Wall Street
<br />New York, N.l'. 10005
<br />Stock Transfer Agent and Registrar of Stock
<br />If you have questions concerning stock account matters
<br />(change of address, stock certificates, consolidation of
<br />accounts, transfer of ownership, etc.) please contact the stock
<br />transfer agent.
<br />Requests for Informatlon
<br />Questions, comments or suggestmns are welcomed by
<br />Royal's management Requests for information, including the
<br />Form 10-K, should be made in writing [o:
<br />Investor Relations
<br />Royal Resources Corporation
<br />1660 Wynkuop Street, Suite 1000
<br />Denver, CO 80202-11 3 2
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