Company Update

RNS Number : 5977Q
Regal Petroleum PLC
15 April 2009
 



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 UkraineRomania 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


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSFIFSISUSEFL
UK 100

Latest directors dealings