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120square mile 3D seismic survey to commence over the western block in February of 2014;
Anticipated to take 30 days;
SAE Exploration awarded 3D Seismic Acquisition contract;
Managing Director and Chief Executive Officer of Rampart Energy, Mr. Torey Marshall commented, "Another major milestone has been reached for the company in that we will be participating in our first significant exploration in the North Slope of Alaska. I'm very pleased to say that we will be hitting our timelines as predicted when we signed the farm-in agreement back in May of 2013."
"The results of this survey will dictate the forward drilling program, and most importantly provide insight into the conventional targets that may be present in our exploration area. As with many other areas, the advent of 3D seismic in the North Slope has increased drilling success rates considerably, and Rampart uses it as a standard tool to de risk drilling for our shareholders.
We will make regular announcements on the progress of the survey up to completion."
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, Inc. (Nasdaq:ROYL).