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Mid-Continent Region <br />Texas: Further developnt<;nt work wa; clone un the Ruleta <br />Field, Zapata County, Texas. A total of three wells have been <br />drilled and completed in the Wilcox and Loho formations. <br />Two of these wellc produce a total of 5,000 MCF of gas per <br />clay which is a silty percent curtailment of the maumum <br />flow rate. The thrrrl well has a hole m the casing and a <br />wurkrn~er is being considered. Royal has a 12.5 percent <br />working interest In each well. Additional well locations are <br />being evaluated. The Company completed a v,ell on the <br />PAOnahans Draw Prospect in Ectur County, Texas in April, <br />1986. The well is presently producing IS barrels of all per <br />day. Royal holds a 12.5 percent working interest in this <br />prospect No further drilling is anticipated on ibis prospect. <br />Oklahoma: Developmental drilling resulted in the <br />completion of hvo wells un the Northeast Krebs Prospect <br />in Pittsburgh County, Oklahoma. The Gallion No- 3 well that <br />inrtially (lowed 3,000 MCF u( gas per clay is e<_timated to <br />have reserves of S,20QOOU MCF of gas. Royal has a S.8 <br />percent working interest in this \vell. The other well, the <br />White Ranch No. A-1, is flowing 200 MCF of };as per clay <br />with gas reserves estimated to be '_-IU,000 MCF. Ru~al's <br />+vurkutg interest Ic U percent. Additional developmental <br />drilling Is being evaluated wish Royal's working Interest <br />varying from three percent [u 19 percent. <br />Louisiana: A workover was completed in l+9ay, 1986 on the <br />State No. 23N Well in La Fourche Parish, Louisiana. Two <br />zones are back on production al a rate of 4,OLIU MCF of gas <br />per clay. Royal has an approximate 53 percent working <br />interest m the well. NeI re;en~es are estimated to be about <br />acing Areas <br />s wkh Lease Holdings <br />1.150,000 n1CF of gas with a ten percent discounted cash <br />ilrnv of about $1,9?S,U00. <br />Other Prospects: Royal has undeveloped acreage located <br />in Dickinson. Meade and Clark Counties in Kansas. The <br />Company has a 100 percent working interest in These <br />pruspecb and intends to promote a portion of these <br />properties to industry partners helure drilling commences in <br />order to reduce its financial commiunenlc. <br />Undeveloped Acreage <br />(At tune 30, 1986) <br />Gross Net <br />GBUrKIa \Nashinkpm I,H114 HS <br />KamaS CIar6 1611 loll <br />Ditkina.n I5.'+NI IS,eftl <br />Meade ! iii "',T i5 <br />Sewerd 457 'li <br />Luunia no Color>ieu <br />Camenln <br />tit Charles ?op <br />f0 <br />b i 3q <br />4 <br />I I <br />n1~duGan Ro~rommon 4,SJU SJ' <br />Tea. Alox us,i 17d 12a <br /> Gaine. 1'14 56 <br /> (,rime. i_% _'0 <br /> Kent 3~~'' 91 <br /> Terry 2411 %U <br /> \Vebb 6i1 15N <br />Total '-'8,039 19,795 <br />