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Additional Information

Market:	AIM
Sector:	Oil and Gas Exploration and Production
EPIC:	RPT
Latest Price:	28.63 (0.00%)
52-week High:	50.75
52-week Low:	26.75
Market Cap:	91.78M

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Regal Petroleum Full Regal Petroleum profile here

Regal Petroleum's primary assets are two large gas and condensate fields in Ukraine - the Mekhediviska-Golotvschinska (MEX-GOL) field and the Svyrydivske (SV) field located in the prolific Dneipner-Donets basin in the north east of Ukraine. Regal is the operator of the assets and there are currently 5 production wells on the assets. Secondary to this, but still significant, are two large exploration blocks in Romania, the Barlad and Suceava Blocks, where Regal holds a 100% and 50% interest respectively.

Regal Petroleum also has a 25% non-operated joint venture in Egypt with Apache Khalda Corporation LDC, where an exploration well tested positively for oil in September 2007 and was tied in as a producing well in June 2008.

Regal Petroleum abandons exploration well in Romania, reviewing assets in the country

Thursday, September 09, 2010

Regal Petroleum (LON:RPT) announced that it is plugging and abandoning the E-1 Sagna exploration well in its wholly owned Barlad concession in Romania.

The oil and gas exploration and production group said E-1 Sagna was spudded on August 22, drilled to a total depth of 980 metres, and penetrated two sandstone intervals. Despite encouraging gas shows noted during drilling, no gas inflow was established.

With the completion of this operation, the company has fully discharged its obligations with respect to the Barlad concession and a strategic review of its Romanian assets is underway, it added.

Regal holds two licences in the north eastern part of Romania, the Suceava and Barlad blocks located in the Carpathian Mountains on the Moldavian Platform, to the east of producing fields and infrastructure.

The company’s primary focus is its producing Ukrainian assets, consisting mainly of the Mekhediviska-Golotvschinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in north-eastern Ukraine, 200km east of Kiev.

The total production rate across both fields on July 20 was 1,930 boepd (barrels of oil equivalent per day). Regal is currently drilling two new wells, MEX-120 on the MEX-GOL license and SV-69 on the SV license.

Regal also has operations in Egypt, with a 25 percent interest in the East Ran Budran concession which has been appraised and oil was discovered on test. Work is ongoing and joint venture partner Apache Khalda Corp estimates there to be 5.2 million barrels of oil.

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