ASX
ANNOUNCEMENT22 May, 2014
LARGE DRILLABLE TARGET IDENTIFIED ON 3D SEISMICOverview
Rampart Energy Ltd ('Rampart') and Royale Energy Inc ('Royale') are pleased to jointly issue an update to shareholders and stakeholders on the seismic received;
HIGHLIGHTS Large conventional target up to 20,000 acres in size;
Strongly supported by Direct Hydrocarbon Indicators ('DHI's');
Joint interpretation of the Big Bend Cube taking place in San
Diego;
Very strong results dovetail into drilling plans with submission of key permits for approval by Alaskan regulators;
Prospective Resource assessment to be completed soon.
Seismic data has been loaded by Royale in San Diego for interpretation and analysis. Preliminary interpretation by the Companies has identified a large conventional target, covering an area of up to 20,000 acres. Supporting the delineation of this target is the presence on the 3D seismic of high amplitudes and flat spots, which the Companies interpret to be Direct Hydrocarbon Indicators (DHI's). These anomalies are located within a critical interval of prospectivity, where elsewhere on the North Slope the same characteristics have had excellent exploration results. The prospect conforms to thermal maturity windows and is expected to be oil prone.
Following interpretation, the prospect data will be sent for third party Prospective
Resource assessment, and subsequently reported to all shareholders.
The planning and approval process continues with the submission of key documentation having been completed recently for the drilling of two wells in January of 2015.
For further details call:
Rampart Energy - + 61 8 8223 1681
Royale Energy - +1 619 383 6600
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