Royale Energy Initiates Review for Nasdaq Relisting
Royale Energy, Inc. announced that its Board of Directors has started a comprehensive strategic review. The goal is to strengthen the company's financial position and prepare for a potential relisting on a national exchange like Nasdaq. The company has engaged Roth Capital Partners to assist in the process.
- **Previous Nasdaq Delisting: Royale Energy's common stock was previously listed on Nasdaq from 1994 until it was delisted in January 2016. Following the delisting, the company's stock has been trading on the OTCQB market under the symbol ROYL. [- Recent Financial](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHub7VlxjmVqr1AKGSd2pxr6qnuZn5_wDOtgnQSO3TposMVMwd2-qHVgk4xXRLGzt38RI7XjRYkUbIv2Rzz80wGkbTla6mEHz78oootq4EMr9bD9o9GYdPO0FyhNR-c-5Rvba29PQ==) Performance: For the fiscal year 2024, Royale Energy reported revenue of $2.2 million, a net loss of $2.2 million, and an EBITDA of -$1.6 million. [The company held $1.9](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHub7VlxjmVqr1AKGSd2pxr6qnuZn5_wDOtgnQSO3TposMVMwd2-qHVgk4xXRLGzt38RI7XjRYkUbIv2Rzz80wGkbTla6mEHz78oootq4EMr9bD9o9GYdPO0FyhNR-c-5Rvba29PQ==) million in cash and equivalents with no long-term debt at the end of the fiscal year. [- Key Strategic Merger](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH-XqoEZZSnS5Up6gaOQCyUf0F3bWJ8UuPVGumBFzITHvzbOnzMKvRKO4DCIwXGqwSPCWG1D-GyvX6KKFAzGSD9vX8m_nkBrqEk5tuAaHHQ7_gwaQBYlGaetFgakz3jWpaFgOMk-c43VoQbmin-EhmjdFmGFf4be26_u4FEhaGWbEOjIDOB-TpO5nnX30o2jdZzE_1EXUIE8kHnKY1yxkAx7Q9RA_X3Xv6C4uErYiiDQO0JZ6K083iqHZ-rpl4B4_aNvVTCfY_vGV7b9E83A7_J28eL7gwd): In March 2018, Royale Energy merged with Matrix Oil Management Corporation in a transaction aimed at creating a high-growth company focused on operations in California and Texas. [A July 2016 press release](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFXCSXmqXRULM6UmROzsdRQQlUt9b6LAzpszL_w9mq9Eoyy0KkTEOwpFPfPQ_9zNyP9wZ6XIOeohGPlmzNqe5RyUQkqIVrNEaBoE26yMJTG2Nan6dvAznPtPv6Cz_TCTCeK7aFVYl0IiOKLFe0cxoxbGTdnmGLelBli0J0ujjZw5_L3WVgeCrF4) regarding the planned merger stated the transaction would position the company for a "timely application to re-list on NASDAQ." - Nasdaq Relisting Hurdles: To relist on the Nasdaq Capital Market, Royale Energy will need to meet specific financial and liquidity requirements. [These include standards](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQELaD3Q5bSZvYBlGEr-p-OODIvMtqM_4P2mgQRxl1t-vlC0OYlnRmD5ox9ozfhCcG3hwKOpXx24vBWnMHak1-YwuL5WzcXXb4aoRgtV5K_xRBf2PMuiFMSXEQ689G_r5Qft0rQ=) related to stockholders' equity, the market value of publicly held shares, and a minimum bid price for its stock, which is generally $4 per share at the time of listing. [- New Leadership for](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGDeCpSSlymJZ1rgF1iUxtsTrkLDYrEQRKgTBXD0C_BB98rbBusacQUUuvnchvUgfwZ-Ae3AaZsosyQdTs3R8i2Z7iEQpwZzP2pAx02IzR6RvKtioXfrc0jVBmq5ei2mw49brk5-mcKb0L4cbjuQJlpvTRejbJcQ-TH1vaI-98n9qT5h4eH) Strategic Push: In January 2026, Jonathan Gregory was appointed as Executive Chairman of the Board to lead strategic initiatives, including strengthening the company's financial structure and positioning it for a potential Nasdaq relisting. - Role of Roth Capital Partners: The company has engaged Roth Capital Partners as its financial advisor. [Roth's energy investment](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEEwYwNnBmmDczhWx3ruyIdVO11nbBoG67pelwfjfSzAn068P0HiqpKsgiK1slC_aKcYS4fyvaZFkdmKXvz4UaIADpjxd9oUHRErG8ARoLFIjNP5FqytT3WDrHvLk8=) banking team has over 20 years of experience and has recently been involved in numerous transactions in the energy sector, including IPOs and follow-on offerings. [- Current Operational](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEF27Tqvq0oQZj9FBK1dGU2-75cJDAYzre2OtIhP6Y21SFolos6_E8MLDy_FpR-EzdOkulCw36BvJa7zrBnBrFl6Oxzt-RkJEHBXg7N91v4n5KjljM=) Focus: Royale Energy's primary operations are focused on oil and natural gas acquisition, development, and marketing in California's Los Angeles and Sacramento Basins, as well as the Permian Basin in Texas. [- Market Standing:**](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQE5spiDnezeVR2wnD99-Z7b1LEX_2kkU5vodH1SY9YJyCIsUn-iYjH-Sp8BHJ4pxw8EO67DLbey76FXPjnZwvoVcmQPB58KmHJXixIqLsPD3em9rVaP) As of early February 2026, Royale Energy's market capitalization was approximately $4.83 million. There is currently no significant analyst coverage of the company.
