5th Feb 2007 13:55
Regal Petroleum PLC05 February 2007 Immediate Release 5 February 2007 REGAL PETROLEUM PLC ("Regal" or "the Company") Press Speculation - Ukraine The Company has noted the press speculation over the last weekend regarding theCompany and its Ukrainian assets and operations and advises that the Company hasnot received any new bid approaches (subsequent to the announcement made on 14December 2006 regarding the termination of potential offer discussions asreferred to in that announcement), nor has it discovered any new oil or gasfields which have not previously been notified to the market. The Company previously provided a statement of the current operational status ofits Mekhediviska/Golotvschinska ("MEX-GOL") and Svyrydivske ("SV") Fields inUkraine in its Ukrainian Update release dated 16 January 2007. In respect of itsMEX-GOL and SV Fields in Ukraine, the Company had proved and probable reservesof 169.7 mmboe (as at 31 December 2005) as reported in the Company's AnnualReport and Accounts for the year ended 31 December 2005. These reserves arestated according to the petroleum resources classification system anddefinitions of the Society of Petroleum Engineers. The Company continues to review its strategic options regarding the developmentof the MEX-GOL and SV Fields in Ukraine, which may involve taking on a jointventure partner in the development of these Fields. For further information, please contact: Regal Tel: 020 7408 9500 Neil Ritson, CEOFrank Scolaro, Chairman Definitions: mmboe million barrels of oil equivalent In accordance with the guidelines of the AIM market of the London Stock Exchange,Neil Ritson BSc (Hons) Geophysics, FGS, Chief Executive Officer of Regal Petroleumplc, is the qualified person that has reviewed the technical information containedin this press release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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