SAN DIEGO, June 24, 2014 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL) today announced the appointment of Jonathan Gregory as an independent director of the company, effective immediately.
Mr. Gregory's appointment replaces the resignation for health reasons of long time board member George Watters. Mr. Watters joined the Royale Board in 1991 and has contributed a great deal of wisdom and industry experience for more than 20 years. The Board will remain at seven, four of whom are independent directors.
Jonathan's over 25 years of broad experience across important segments of the oil and gas industry will be a valuable contribution to the company. His experience includes a 25 year banking career where he focused primarily on reserve based lending to both private and public oil and gas companies. Most recently, he served as chief financial officer for a private independent exploration and production company, where he was actively engaged in raising equity and acquisitions and development activities.
Mr. Gregory is a member of Houston Producers Forum; Houston Energy Finance Group; and ADAM Houston Energy Network. He is also a Co-Founder of Bread of Life, Inc., a non-profit organization committed to empowering homeless Houstonians; and a director of Small Steps Nurturing Center, a non-profit Christian organization that provides early childhood education for economically at-risk children in the inner-city of Houston, Texas.
Forward Looking Statements
In addition to historical information contained herein, this news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, subject to various risks and uncertainties that could cause the company's actual results to differ materially from those in the "forward-looking" statements. While the company believes its forward looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company's control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission.