29th Sep 2005 13:27
Regal Petroleum PLC29 September 2005 Immediate Release 29 September 2005 REGAL PETROLEUM PLC ("the Company") Ukrainian Update The Company announce this morning that it has received a communication from itslegal representatives in the Ukraine that Nadra Ukrayiny, the parentorganisation for Chernigivnaftogasgeologia ("CNGG"), is intending to issue alegal challenge to Regal's licences in the Ukraine. The Company is presentlyunaware of the basis of this challenge and will vigorously defend its position.The Company continues to believe and as such is being so advised by its legalrepresentatives that its licences were properly awarded and are legally sound.The Company is urgently seeking further information and will keep the marketinformed as and when such information becomes available. Chief Executive Officer Rex Gaisford said "We don't believe there is anysubstance in the potential claim and we will be fighting any such casevigorously. We will continue to meet this challenge with the same degree ofopenness and professionalism with which we have attempted to meet the otherchallenges over the past three months". For further information, please contact: Regal Tel: 020 7408 9500Roger Phillips, Finance Director Buchanan Communications Tel: 020 7466 5000Bobby Morse This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RPT.L