15th Apr 2009 11:16
Regal Petroleum plc
("Regal" or the "Company")
15 April 2009
COMPANY UPDATE
Regal Petroleum, the AIM-listed (RPT) oil and gas exploration and production group operating in Ukraine, Romania and Egypt, today announces that it has suspended discussions with Macquarie Bank Limited in relation to the prospective provision of a loan facility for up to $US100 million.
Regal's primary objective remains to further strengthen its financial position on optimal terms and provide the funds to implement the Company's development strategy, which the Company believes will deliver significant value to shareholders.
Negotiations with other potential lenders and commercial / joint venture partners continue, and further announcements will be made as appropriate.
For further information, please contact:
Regal Petroleum plc Tel: 020 7408 9500
David J Greer, CEO
Strand Partners Limited Tel: 020 7409 3494
Simon Raggett / Rory Murphy
Mirabaud Securities Tel: 020 7878 3362
Peter Krens / Pav Sanghera
Citigate Dewe Rogerson Tel: 020 7638 9571
Enquiries: George Cazenove
Related Shares:
RPT.L