Replacement: Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Regal Petroleum plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

no

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

yes

An event changing the breakdown of voting rights

no

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Investohills Enterprises Ltd

4. Full name of shareholder(s)  (if different from 3.):iv

Andriy Volkov

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

21 December 2011

6. Date on which issuer notified:

22 December 2011

7. Threshold(s) that is/are crossed orreached: vi, vii

From 0% to 7%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB0031775819

5p ord:

104 100

104 100

5p ord:

24 385 489

24 385 489

7,61%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

-

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

American call option

0,63

08/09/2012

10 763 450

Nominal

Delta

0

Total (A+B+C)

Number of voting rights

Percentage of voting rights

24 385 489

7,61%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Elena Ivchenko

15. Contact telephone number:

+380 44 379 1001

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Contact address

(registered office for legal entities)

Phone number & email

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

Elena Ivchenko

Contact address

INVESTOHILLS ENTERPRISES LTD

Krinon, 16 P.C.3110 Limassol, Cyprus

Phone number & email

+380 44 379 1001,

[email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.