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Royale Energy Inc awarded participation payment from Rampart Energy Ltd  Join our daily free Newsletter

MENAFN - - 12/6/2013 7:47:23 AM

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(Menafn - M2 EQUITYBITES via COMTEX)

Royale Energy Inc awarded participation payment from Rampart Energy Ltd

Dec 06, 2013 (Menafn - M2 EQUITYBITES via COMTEX) --Natural gas producer Royale Energy Inc (nasdaqcm:ROYL) reported on Thursday the receipt of the final cash payment for participation in its Western acreage block from Rampart Energy Ltd.

Following this initial step, Rampart will receive an assignment of 10% of the Working Interest in Royale's Western acreage block that covers 39,000 acres.

The company added the acquisition of seismic data on the North Slope is expected to begin in January 2014 and plans to announce 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.

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