NOTE 2 - EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

NOTE 2 – EARNINGS PER SHARE

Basic and diluted earnings (loss) per share are calculated as follows:

	For the Three Months ended  March 31, 2012
	Loss (Numerator)			Shares (Denominator)		Per-Share Amount
Basic Earnings Per Share:
Net loss available to common stock	$	(1,188,759	)		10,846,102	$	(0.11	)
Diluted Earnings Per Share:
Effect of dilutive securities and stock options		0			0		0.00
Net loss available to common stock	$	(1,188,759	)		10,846,102	$	(0.11	)
	For the Three Months ended  March 31, 2011
	Income (Numerator)			Shares (Denominator)		Per-Share Amount
Basic Earnings Per Share:
Net income available to common stock	$	76,853			10,336,255	$	0.01
Diluted Earnings Per Share:
Effect of dilutive securities and stock options		0			823,659		0.00
Net income available to common stock	$	76,853			11,159,914	$	0.01

For the three months ended March 31, 2012, Royale Energy had dilutive securities of 652,738.  These securities were not included in the dilutive loss per share due to their antidilutive nature.