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Royale Energy Inc. Message Board

  • slaveofthetrade slaveofthetrade Aug 18, 2014 2:22 PM Flag

    Trading Halted Rampart Energy News 8/18/14

    There going after more financing.
    Rampart Energy to raise funds, includes placement
    Monday, August 18, 2014 by Proactive Investors

    Rampart Energy to raise funds, includes placement

    Rampart Energy (ASX:RTD) is heading to market with a capital raising, which will include a placement. The ASX has granted a trading halt.

    At the start of the month the company announced that Operator Royale Energy (NASDAQ: ROYL) terminated the contract with Kuukpic Drilling, for drilling of two exploration wells in the Western Block, North Slope Alaska, during the 2015 winter season.

    At the time Rampart said in order to retain the rig a substantial deposit was required to be paid by Royale Energy, funded by Rampart Energy.

    The joint venture determined that it would not be prudent to proceed with such a significant financial commitment without a greater degree of certainty that funding of the drilling program can be achieved within the available timeframe.

    The halt will remain in place until the opening of trade on Wednesday 20th August 2014, or earlier if an announcement is made to the market.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Ko

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