Regal Petroleum

Regal Petroleum plc is a London-based independent oil and gas exploration and production company with major assets in Ukraine and prospective exploration licences in Romania and Egypt.

During the period 1996 to 1999 Regal conducted reviews of a number of oil and gas projects in Ukraine which led to an exploration joint venture agreement in August 1999 under which Regal acquired a 75% interest in the Mekhediviska, Golotovschinska and Svyrdivske (MEX, GOL and SV) gas field areas in Eastern Ukraine.

Prior to its flotation in September 2002, Regal invested approximately US$8 million in identifying, assessing and developing the joint venture project to the point of initial production. In September 2002 Regal raised £10 million through an institutional placing and was admitted for trading on the Alternative Investment Market (AIM) of the London Stock Exchange on 27 September 2002.

In July 2004 Regal was awarded a 100% interest in 2 production licences, each for a period of 20 years, in the former exploration joint Venture area of the MEX-GOL and SV fields in Ukraine. This award was subsequently disputed by Regal's former partner and led to a protracted legal challenge which was finally resolved in Regal's favour in December 2006 confirming Regal as the field operator and 100% licence holder.

In addition Regal has:

• 50% interest in the Suceava licence area in north-east Romania, in a joint venture with Aurelian Oil & Gas Plc;
  

The Company continues to seek new opportunities and to form new joint ventures so as to spread commercial risk, whilst also seeking exposure to the best new exploration and production opportunities in its focus area: from North Africa to the Former Soviet Union.

Email info@regalpetroleum.co.uk