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Pacific Coast Region <br />i <br />Saticoy Prospect, Ventura County: The Butler No. 2a-6 <br />real discovery well on the prospect is shut-in due to low oil <br />ease Holdings prices For heavy crude. A second well is scheduled to test a <br />shallrn+-er region of (he prospect. This well is expected to be <br />drilled in the spring of 1987 depending upon the pace of oil <br />at the time. Royal will have a 24.575 percent working <br />interest in the well. Further developmental sites are being <br />evaluated. <br />Conejo Creek Prospect, Ventura County: Plans to drill <br />additional wells on this prospect have been cancelled clue to <br />permitting problems. <br />Undeveloped Acreage <br />(At June 30, 1986) <br />Slate County Gross Net <br />Caliinmia Fre>no Ifiil )60 <br />Kern 4iL 4i4 <br />Kings i.riUf 846 <br />Monterey 1.OSri 2.0;ri <br />Tu.ue illll 711U <br />\@ntwa 4,;q5 1.7114 <br />Total 11,06? 5,518 <br />California: Tulare Lake Field, Kings, County: Only Four of the <br />completed well. at Tulare Lake are pruduang while nine of <br />the completed wells are shut-in. The shut-in v,~ells are being <br />considered fur workovers on a well-by-well basis. Geological <br />data suggests that there are no lurther drillable locations in <br />the Fleld. Shell Caliiomia Production, Inc operates the Tulare <br />Lake Field with current net production to Royal averaging 50 <br />barrels ut oil per clay and 9U MCF of gas per clay. Production <br />Irum this field is down substantially from last year clue to the <br />various mech. nical problems encountered in the wellbores <br />and Gxmatiuns. The next +vorkuver at the Field is sdleduled <br />for the KCDC Nu. dd-8 well some time late in the third Rscal <br />quarter of 19ri7. Two behind pg7e zones will be perforated <br />and tested. Royal has an average u( 25 percent working <br />interest in the field. <br />Nevada Avenue Prospect, Kings Counly: In November, 1985, <br />Exxon Corporation commenced dolling a test well on a <br />Farmout basis on this prospect. Drilling was completed in <br />January of 1986, but the objective Temhlor sands were nut <br />considered commercially productive. Royal look over <br />operations un this well, and in March of 1986 proceeded <br />with deepening operations to lest the Gatchell sands. <br />Production casing was run and two zones are presently being <br />flow tested For pruducuon. Royal has a Five percent working <br />interest and a 1.3 percent royalty interest in the Gatchell <br />reservoir and can back In lur an additional 2B percent <br />working interest after payout uF the br51 well. Future drilling <br />plans are being evaluated on the prospect acreage. <br />