Insider Trades - WATTERS GEORGE M

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WATTERS GEORGE M: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
Royale Energy, Inc. Director NasdaqCM:ROYL (historical quotes, profile, SEC, other insiders)	28-Mar-12 17-Apr-13	23,996 65,481 89,477	Direct Indirect Total

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
17-Apr-13 *12,000 ROYL Sale at $2.53 per share.
(Proceeds of $30,359)
4-Apr-12 *4,000 ROYL Sale at $4.96 per share.
(Proceeds of $19,840)
28-Mar-12 13,996 ROYL Option Exercise at $3.50 per share.
(Cost of $48,986)
6-Nov-11 3,334 ROYL Acquisition (Non Open Market) at $3.35 per share.
(Value of $11,168)

* Indicates that some (or all) shares are held indirectly (e.g. in a trust, by a spouse, etc.)

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
17-Apr-13	*12,000	ROYL	Sale at $2.53 per share. (Proceeds of $30,359)
4-Apr-12	*4,000	ROYL	Sale at $4.96 per share. (Proceeds of $19,840)
28-Mar-12	13,996	ROYL	Option Exercise at $3.50 per share. (Cost of $48,986)
6-Nov-11	3,334	ROYL	Acquisition (Non Open Market) at $3.35 per share. (Value of $11,168)