Item 2.02 Results of Operations and Financial Condition

On May 15, 2012, Royale Energy released the attached press release reporting earnings for the quarter ended March 31, 2012.

Item 3.01 Notice of Failure to Satisfy a Continued Listing Standard

On May 14, 2012, the Company filed a Current Report on Form 8-K, noting that the Company had failed to maintain an audit committee comprised of at least three independent members of the Board of Directors, as required by NASDAQ Rule 5605(c)(2), since the retirement of one audit committee member on July 8, 2011. The Company also announced that its Board of Directors had elected Gary Grinsfelder to the vacant audit committee post as of May 9, 2012, and had regained compliance Rule 5605(c)(2).

On May 15¸2012, the Company received a letter from NASDAQ, which acknowledged receipt of the Company's notice of non-compliance with Rule 5605(c)(2), and which stated that the Company has regained compliance with the Rule and that NASDAQ has closed the matter.

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