Royale Receives Rampart Participation Payment
Alaska Operations to Begin January 2014
SAN DIEGO, Dec. 5, 2013 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL)
today announced that it has received the final cash payment from Rampart
Energy Ltd. The completion of this initial step entitles Rampart to receive an
assignment of 10% of the Working Interest in Royale's Western acreage block
(approximately 39,000 acres).
Seismic data acquisition on the North Slope is expected to begin in January.
The companies anticipate announcing the selection of the seismic contractor
next week. Rampart's payment for the cost of seismic will entitle them to earn
an additional 20% in the project.
Forward Looking Statements
In addition to historical information contained herein, this news release
contains "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, subject to various risks and
uncertainties that could cause the company's actual results to differ
materially from those in the "forward-looking" statements. While the company
believes its forward looking statements are based upon reasonable assumptions,
there are factors that are difficult to predict and that are influenced by
economic and other conditions beyond the company's control. Investors are
directed to consider such risks and other uncertainties discussed in documents
filed by the company with the Securities and Exchange Commission.
CONTACT: Royale Energy, Inc.
Chanda Idano, Director of Marketing & PR
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