Royale Energy Explores Nasdaq Relisting
Royale Energy, Inc. announced that its board has initiated a comprehensive strategic review. The company has engaged Roth Capital Partners to help strengthen its financial position and prepare for a potential relisting on a national exchange like Nasdaq.
- In January 2026, Royale Energy appointed Jonathan Gregory as Executive Chairman to spearhead the relisting effort. Gregory, who also serves as CEO of RMX Resources and Chairman of the California Independent Petroleum Association, brings over 30 years of experience in energy finance and asset acquisition. - The strategic review will assess options such as balance sheet optimization, different approaches to asset-level capital allocation, and potential transactions to increase the company's scale and liquidity. - This move follows a significant recapitalization in October 2024, where the company simplified its capital structure by exchanging all outstanding Series B Preferred Stock for common stock, stock options, and promissory notes. This resolved over $24 million of Series B Preferred liquidation preference value. - Royale Energy was previously listed on the Nasdaq until early 2016. A July 2016 press release regarding a merger with Matrix Oil stated the deal would put the company "squarely on the path for qualification and timely application to re-list on NASDAQ," suggesting the delisting was due to not meeting listing requirements amidst a challenging period for oil and gas companies. - Financially, the company reported a net loss in the latest quarter of $0.55 million. For the fiscal year 2024, Royale Energy generated $2.2 million in revenue and reported a net income of -$2.2 million. - The company's stock is currently traded on the OTCQB market under the ticker ROYL. The company has stated it is in compliance with SEC reporting requirements.
