Rampart Energy (ASX:RTD), which is changing its name to Pilot...

Rampart Energy (ASX:RTD), which is changing its name to Pilot Energy, has received US$3.1 million (A$4.2 million) under Alaska’s exploration tax credit structure.

This is in relation to the US$7.8 million 3D seismic program completed in the Western Block, North Slope Alaska, in early 2014.

The funds have been used to pay back debt within the company’s ACES finance facility.

In February 2015, Rampart also filed an application for an US$3.7 million reimbursement from the State of Alaska, in the form of a Net Operating Loss (NOL) credit.

This payment should be remitted to the ACES finance facility within the coming months.

Rampart recently raised $1 million through a fully underwritten 2 for 1 rights issue.

The funds will be allocated towards geological and geophysical studies for further assessment of the prospectivity of the company’s recently acquired WA-507-P and WA-503-P exploration permits in Western Australia, funding farm-out programs for those assets and securing additional oil and gas assets in the near-term.

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