SAN DIEGO, March 6, 2014 (GLOBE NEWSWIRE) -- Royale Energy, Inc. (Nasdaq:ROYL) today announced that it has completed the field acquisition of its planned seismic survey over the western block of its Alaska North Slope acreage. The data was acquired in cooperation with Rampart Energy and was conducted by SAExploration, Inc.
Highlights of the project include:
- Area covered: over 100 square miles
- Duration: over 33 days (including 4 standby/weather days)
- Labor: over 72,600 man hours
- Source points: over 7,065
- Receiver points: over 11,600
The field data will be delivered to a seismic data processing company early next week. Following delivery processing will occur in stages ranging from 6 to 12 weeks for the respective deliverable products.
Stephen Hosmer, Royale's Co-CEO said, "We are pleased with the progress of this important step in the development of [Royale's] Alaska property, and look forward to analyzing the data to select drilling locations for the coming winter season."
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.