RYPE Royalite Petroleum Company Inc (CE)

ITEM 7.01        REGULATION FD DISCLOSURE

Private Placement of Promissory Notes

The Company reports that on December 4, 2007, it’s board of directors approved an offering of up to $250,000 of 8% convertible notes. The convertible notes will be due on December 31, 2009 and will bear interest at 8% per annum payable annually and will be issued in reliance of exemptions from applicable securities laws.

There is no assurance that the offering of convertible notes will be completed on the above terms or at all.

The above does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities in the United States. The securities have not been registered under the United States Securities Act of 1933, as amended and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.

Keystone Project and Green River Prospect

The Company reported that under the terms of its letter agreement dated October 1, 2007 with Central Utah Lease Acquisition, L.P. (“CULA”), the Company’s option to acquire 62.5% of CULA’s interest in an oil and gas project known as the Keystone Project in Utah expired on November 21, 2007. The Company is attempting to negotiate a further option to acquire the Keystone Project. There is no assurance that the negotiations will be successful.

The Company also reported that its amended letter of intent dated October 2, 2007 with Twilight Resources, LLC (“Twilight”), has expired as the parties were unable to reach a formal agreement by November 20, 2007. The amended letter of intent set out the proposed terms under which the Company would acquire an undivided 50% of Twilight’s leasehold interest in a project known as the Green River Prospect in Utah. The Company is attempting to negotiate an extension to acquire the leasehold interest in the Green River Prospect. There is no assurance that the negotiations will be successful.

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