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February 3, 2014
09:54 EDTROYLRoyale Energy rallies after Rampart receives $50M funding
Rampart Energy announced the completion of a funding facility and operational update of its North Slope project in Alaska. Rampart closed an ACES based Credit Facility with Melody Business Finance to provide funding to support the ongoing exploration program at North Slope. The $50M facility will now fund a "large percentage of the upfront cost of exploration activity, as opposed to the Company having to return to shareholders to fund exploration entirely through the issue of equity," Rampart said. Rampart Energy is exploring two areas of the North Slope of Alaska for both conventional and unconventional oil. The company signed an agreement in May of 2013 to earn into leases owned by Royale Energy (ROYL). Shares of Royale are up 17c to $2.76 following the news.
News For ROYL From The Last 14 Days
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October 22, 2014
07:47 EDTROYLRoyale Energy confirms new high rate well
Royale Energy announced it has achieved a sustained rate of 1.6M cubic feet per day after opening an initial 2 feet of a 65 foot gross interval in the recently drilled McKinney well. Following the flow test, a pressure build test resulted in a total pressure of 4,165 psi. Based on the thickness, pressure and areal extent, this multi-BCF well is likely to be counted among the company's largest discoveries. Following the installation of the pipeline now underway, the well will be placed on production for 7-20 days before opening an additional 30 feet to incrementally add to productive capacity. The full 65 foot interval is expected to be opened later in the year as winter gas demand rises.

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