Drilling Update

RNS Number : 1888I

Regal Petroleum PLC

14 November 2008

 



Regal Petroleum plc

('Regal' or the 'Company')

14 November 2008

Result of MEX-102 Workover, Ukraine

Regal (AIM; RPT) announces that it has successfully completed the workover of well MEX-102 in Ukraine, which has now been taken back into production. The well was re-entered to access unexploited production from the B23 reservoir. The initial production rate from this well (measured at the production facility) is 198,000 m3/d of gas (7.03 mmscf/d or 1,171 boepd).

David J Greer, CEO, commented: 

'We are very pleased with the initial results of the MEX-102 work-over and the associated production increase which is at the upper end of expectations. We now look forward to an additional production increase from our new MEX-103 well due shortly and of course to the commencement of our next phase of development drilling using the two recently arrived new-build modern drilling rigs. With this latest production increase, we are well on track to meet our end year production target.'

For further information, please contact:

Regal Petroleum plc               Tel: [phone]  

David J Greer, CEO

Strand Partners                       Tel: [phone] 

Rory Murphy

Mirabaud Securities                Tel: [phone]

Peter Krens / Pav Sanghera

Citigate Dewe Rogerson        Tel: [phone]

Media Enquiries: Martin Jackson

Analyst Enquires: Emma Woollaston

In accordance with the guidelines of the AIM market of the London Stock Exchange, Ronan McElroy, PhD Geology, SPE, Chief Technologist of Regal Petroleum plc, is the qualified person that has reviewed the technical information contained in this press release.

Definitions:

boepd          = barrels of oil equivalent per day

mmscf/d      = million standard cubic feet per day

m3/d             = cubic metres per day

 

END

 

 

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