Delisting Determination,The Nasdaq Stock Market, LLC,
March 17, 2016, Royale Energy, Inc.
The Nasdaq Stock Market, Inc. (the Exchange) has determined to
remove from listing the common stock of Royale Energy, Inc.
(the Company), effective at the opening of the trading
session on March 28, 2016. Based on review of information
provided by the Company, Nasdaq Staff determined that the
Company no longer qualified for listing on the Exchange
pursuant to Listing Rules Rule 5550(b), 5605(b)(1) and
5605(c)(2). The Company was notified
of the Staffs determination on October 6, 2015.  The
Company appealed the determination to a Hearing Panel.
Upon review of the information provided by the Company,
the Panel issued a decision dated December 9, 2015, granting
the Company continued listing pursuant to an exception
that included several milestones that the Company was
required to meet, towards the toal of regaining compliance
with Listing Rules 5550(b), 5605(b)(1) and 5605(c)(2).
However, the Company was
unable to meet the exception milestones as required.
On January 19, 2016, the Panel issued a final delisting
determination and notified the Company that trading in the Companys
securities would be suspended on january 21, 2016.
The Company did not request a review of the Panels decision
by the Nasdaq Listing and Hearing Review Council. The
Listing Council did not call the matter for review.
The Panels Determination to delist the Company
became final on March 4, 2016.