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Production and Product Sales <br />During the year, [he average net production to Royal was al <br />the rate of 253 barrels of oil per clay and 1,964 MCF <br />(thousand cubic feet) of gas per day iron all producing wells. <br />This compares UT the prior fiscal year's average production of <br />488 barrels of oil per day and 1,938 MCF of gas per clay. Oil <br />and gas sales iur fiscal 1986 were appruxinlately $4.0 million <br />compared to almost $ri million fur fiscal 1985. The following <br />table depicts the average price for oil and j;ai for 1986 as <br />compared to fiscal 1985 ligures. At lure 3U, 1986, the <br />average prices were $12.00 per barrel of oil and $2.18 per <br />MCF of gas. <br />Oil/Barrel Gas/MCF <br />1986 1985 1986 1985 <br />.1vem,ge Vnce R'llLda 815 56 S?.a5 $3.16 <br />Sales of Oil <br />(Thousands of Bbls) <br />u .SU ;INI JStl 11011 I_'-.il I"•nn <br />Producing Wells <br />As u(Itule 30, 1986, Royal had an Interest in 63 18.3_' Hell <br />producing oil wells and 71 gross (9.26 Hell producing ,Ras <br />wel Is. <br />The following tables depict the gross and net productive <br />oil and gas wells and the gross and net developed acres <br />owned by the Company at Iwle 30, 1986. <br />Leal <br />Gr, n. NeI <br />Uil Null, h4 tl,i' <br />Ga. Well. ; I n1L <br />Tolal <br />( rn.~ Nel <br />Developed Aaaipe ;n, .?n 5.350 <br />Undeveloped Acreage <br />As of lone 30, 1986, the Company owned leasehold interests <br />in 203,405 gross (1+6,177 net) undeveloped acre; in the <br />United Stales and over (our million gross 1619,334 ne0 acres <br />in tvro oil and gas permit concessions in the Canning Basin <br />in Western Australia. Reier to table below which indicates <br />the locations of undeveloped leasehold acreage and the <br />states in which Royal holds property. <br />Undeveloped Acreage In North America <br />(Thousands) <br />NrT ^ cl<uss~. <br />(At June 30, 1986) <br />Geographic Area Gross Acres Nel Acres <br />Caldurnw I I.O61 5.5174 <br />ColuraJo 5.1116 a,5_'a <br />GenrGiJ I,;HN US <br />Idaho IUa. i56 715.9'-1 <br />t~Jnldp In,ll{j IA,79; <br />~UUI\IJna (a`I4 a, <br />Alichi,r;an a, 4a0 ia; <br />AtonlanJ 16,6611 6.690 <br />Nnnir Dakula 'UU !5 <br />Soulh Da6ola !.ins !.395 <br />Tea. !.119 525 <br />U4ah IU,6ri1) S.aaU <br />bVvuming 4.7i7 15,14614 <br />Tolal 103,405 146,171 <br />5 <br />u uu~ ,un wn uw 9i in oa~~ -nn <br />(I ilk III11 ill !1111 'iP II11 ~ ~~~ <br />Sales of Gas <br />(Thousand of MCF) <br />