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Stock Market & Financial Investment News

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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.
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