PILOT ENERGY LIMITED — Capital/Financing Update 2013

Dec 9, 2013

ASX ANNOUNCEMENT

10 December, 2013

Corporate Update

Rampart Energy Ltd (‘Rampart’) is pleased to provide the following update:

HIGHLIGHTS

• Final stages in seismic negotiations led by Operator Royale Energy Inc.

• Expect announcement prior to Christmas.

• Direct working interest secured in the North Slope properties following payment of final acquisition installment of US$1.976 million.

Managing Director and Chief Executive Officer of Rampart Energy, Mr Torey Marshall commented “With our first assigned interest in the North Slope, the Company has established a material springboard for securing its future. The 3D seismic survey to be completed in the upcoming winter season will solidify that position by adding an additional 20% (total, 30%) working interest to Rampart. We are pleased that negotiations are close to completion with seismic contractors and have been advised by the Operator of the areas (Royale Energy Inc), that a final decision will be reached in the next week”.

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Background

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).

Rampart believes that there is a very large upside in the area, as illustrated by the Prospective Resource numbers published in August of 2013, and notes that exploration in the region is heavily supported by the State of Alaska’s incentive system which provides for exploration costs to be reimbursed. The work program currently consists of 3D seismic acquisition in 2014 and the drilling of 2 wells during 2015.