Regal Petroleum Shares Rise As It Spuds VAS-10 Well In Ukraine

14th Mar 2018 13:35

LONDON (Alliance News) - Shares in Regal Petroleum PLC rose Wednesday as it announced the spudding of the VAS-10 well at its Vasyschevskoye gas and condensate field in Ukraine.

Shares in the oil and gas company were up 13% at 20.70 pence in afternoon trade.

The well has a target depth of 3,450 metres, and drilling operations are scheduled to complete in June, and production hook-up in the third quarter, subject to successful testing.

The well is targeting reservoirs in the Visean formation.

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