18th Jan 2008 07:01
Regal Petroleum PLC18 January 2008 REGAL PETROLEUM PLC ("Regal" or "the Company") Second Test on RBN-4 Well in Romania Regal Petroleum (AIM: RPT), the independent oil & gas exploration and productioncompany, today announces that it has flow tested a second interval at itsexploration well, RBN-4, in the Barlad Concession, Romania (100% workinginterest). The RBN-4 well was completed to a total depth of 973 metres TVD on27 October 2007. This second, higher, interval of 12.7 metres, between 543.3 metres and 556.0metres, in the Sarmatian formation was perforated and tested but no hydrocarbonswere present. Results from the previous successful testing of the lower interval wereannounced on 13 December 2007. This lower 4.6 metre interval, between 756.7metres and 761.3 metres, in the Sarmatian formation yielded a maximum dry gasflow rate of 3.74 MMscf/d on a 12mm choke with a flowing tubing head pressure of49 bar over a 24 hour flow period. The RBN-4 well has now been suspended to allow re-entry of the lower producinginterval and to allow further evaluation of the results of this well. David J Greer, Regal's Chairman and Chief Executive Officer, commented: "Although the test results of the second interval are disappointing, we are veryencouraged by the flow rates achieved from the lower zone and we will now beevaluating the potential for this gas discovery." For further information, please contact: Regal Tel: 020 7408 9500David J Greer, Chairman & Chief Executive Officer Evolution Securities Tel: 020 7071 4300Robert Collins Mirabaud Securities Tel: 020 7321 2508Pav Sanghera Citigate Dewe Rogerson Tel: 020 7638 9571Martin JacksonScott Fulton Definitions: bar one atmosphere pressuremm millimetresMMscf/d million standard cubic feet per dayTVD true vertical depth In accordance with the guidelines of the AIM market of the London StockExchange, Antonio Mozetic, PhD Geological Sciences, SPE, Director of RegalPetroleum plc, is the qualified person that has reviewed the technicalinformation contained in this press release. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RPT.L