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Proxy



Nasdaq , ROYL

Royale Energy, Inc. is an independent oil and natural gas producer. The company’s principal lines of business are the production and sale of natural gas, acquisition of oil and gas lease interests and proved reserves, drilling of both exploratory and development wells and sales of fractional working interests in wells to be drilled by Royale Energy. Royale Energy owns wells and leases located mainly in the Sacramento Basin and San Joaquin Basin in California, as well as in Utah, Texas and Louisiana. During 2004, Royale Energy drilled 14 wells, seven of which are commercially productive. Two wells were waiting on completion as of Dec. 31. Approximately 42 percent of Royale Energy’s 2004 revenue came from sales of oil and natural gas from production of its wells.


Value

Total number of shares outstanding as of Sept. 30 7,900,000

Price of each share of common stock on Sept. 30 $10.33

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Aggregate market value as of Sept. 30 $81,607,000


Performance Record

For year ended Dec. 31, in thousands, except per-share data.

2004 2003 2002

Total revenues $25,944 $23,265 $12,439

Net income (loss) $2,192 $4,400 ($137)

Net income (loss) per share $0.31 $0.65 ($0.02)

Total assets $42,549 $35,671 $23,301


Directors

Harry Hosmer, 74, chairman since 1986.

Donald Hosmer, 51, director since 1987.

Stephen Hosmer, 38, director since 1996.

Oscar Hildebrandt, 69, director since 1995.

Rodney Nahama, 73, director since 1994.

George Watters, 85, director since 1991.

Gilbert C. L. Kemp, 71, director since 1998.


Executive Compensation

Officer 2004 Cash Compensation

Donald Hosmer, president $270,143

Stephen Hosmer, executive vice president and chief financial officer $260,223


Significant Stock Ownership

Number of shares Percent

July 27

Stephen Hosmer 1,224,008 15.51

Donald Hosmer 1,019,486 12.92

Harry Hosmer 763,797 9.68

Directors and officers as a group* 3,221,902 39.95


Other Information

Headquarters: 7676 Hazard Center Drive, No. 1500, San Diego, CA 92108;

(619) 881-2800; fax (619) 297-0438.

Web site: www.royl.com.

Auditors: Sprouse & Anderson LLP.

Employees: 30.

Industry: Independent oil and gas.


*Note:

In the Significant Stock Ownership section, the number of people in the group of directors and officers was not available.

Information was compiled from the company’s annual and proxy reports.

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