1st Jul 2014 14:13
LONDON (Alliance News) - Regal Petroleum PLC Tuesday said it has been "generally unaffected" by the geopolitical upheaval in Ukraine, adding that it has been able to produce and operate normally at the Mekhediviska-Golotvshinska and Svyrydivske gas and condensate fields.
In a statement, the AIM-quoted oil and gas exploration and production group said that gas, condensate and liquefied petroleum gas from the fields between April 1 and June 30 averaged 1,387 barrels of oil equivalents per day in total.
It said that workover operations at the SV-61 well, designed to stop water from entering, were undertaken in the last quarter but that operations were suspended due to equipment failure. They will be completed in the second half of 2014, Regal Petroleum said.
In addition, the company said that it is continuing to prepare for drilling of the MEX-109 well and the hydraulic fracturing of the MEX-120 and MEX-105 wells in the second-half.
Further geophysical studies, aimed at improving the understanding of the sub-surface within the MEX-GOL and SV licences, are continuing, Regal said.
Regal Petroleum shares were Tuesday quoted at 9.651 pence, up 10.3%.
By Samuel Agini; [email protected]; @samuelagini
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