Royale, Rampart find large drillable target on Alaskan 3D seismic
SAN DIEGO, California -- Rampart Energy and Royale Energy have identified a drillable target on their acreage on Alaska’s North Slope. 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. 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.
Stephen Hosmer, CEO of Royale, commented, "I am very excited that we now have hard data supporting our opinion on the prospectivity of our North Slope acreage.”
Torey Marshall, managing director of Rampart, added, "Having the benefit of being able to evaluate the Big Bend cube jointly with Royale is fantastic and the results are better than I had hoped. While clearly there' s a lot of work still to come on the cube (particularly the final AVO data), the large prospect identified is a fantastic example of why Rampart and Royale wanted to participate in Alaskan exploration. We remain on track with guidance provided to the market and look forward to drilling in 2015."