Trading Update

Regal Petroleum PLC
25 April 2005


Immediate Release                                                  25 April 2005

                              REGAL PETROLEUM PLC

                           ('Regal' or the 'Company')

                             Current Trading Update

The Directors announce the following trading update on the Company:

Romania: The Company today announced the successful completion of exploration
well SE-1 in the Suceava licence resulting in a significant dry gas discovery.
Based on current Regal evaluation, existing well data and seismic data coverage
the Company believes that the total recoverable resource in the Suceava licence
is up to 3.8 trillion cubic feet (684 million barrels of oil equivalent). A
drilling programme is currently being finalised and it is expected that a series
of shallow, low cost appraisal/development wells will be drilled in 2005 and
2006.


Please refer to the separate Romania press release of today for further details
on the gas discovery in the Suceava licence and the current status on the Barlad
licence.


Greece: The drilling of the Kallirachi-2 appraisal well in the Greater
Kallirachi Area has been completed and has intersected four prospective
reservoirs. The bottom prospective reservoir, a Dolomite formation, has been
tested with light oil shows, good reservoir pressure and porosity but low
permeability. Further testing of the upper three prospective reservoirs
(including reservoirs corresponding to Prinos Group equivalent) continues. A
further update, likely to be within a month, will be provided once the results
of the testing of all the prospective reservoirs is completed.


Current oil production in Greece is approximately 3,000 barrels of oil per day
('bopd'). Due to mechanical, technical and operational difficulties with
existing offshore facilities the Directors have revised projected oil production
in Greece for 2005 to an average of 4,000 bopd. With current oil prices, the
Directors remain confident of oil production revenue in Greece for 2005 meeting
market forecasts.


Ukraine: The Ukraine operation continues to be profitable and generate positive
cash flow for Regal. Current projected working capital requirements for Ukraine
are expected to be funded from this positive cash flow.


A full independent reserve audit is being carried out on the Ukraine reserves
with the results expected in Q2 2005. This reserves audit will incorporate the
results of wells drilled in 2003 and 2004, the discovery of an additional
condensate formation and recent technical evaluations.


Egypt: Four large prospective structures have been identified on the Egypt
concession area following the evaluation of existing data. Seismic data is
currently being re-processed and interpreted and the first exploration well is
expected to commence drilling in the second half of 2005.


Liberia: In October 2004 a joint-venture, in which Regal holds a 25 per cent.
interest, was awarded two contiguous exploration concessions. Negotiations to
finalise the fiscal terms for the production sharing agreement are continuing.


Preliminary Results for 2004: Regal will be announcing its preliminary results
for the twelve months ended 31 December 2004 on Tuesday 31 May 2005. A
presentation to analysts, investors and private client brokers will be held at
the offices of Buchanan Communications, 107 Cheapside, London EC2V at 9.30am.


25 April 2005


For further information, please contact:

Regal                                                         Tel: [phone]
Frank Timis, Executive Chairman
Roger Phillips, Finance Director

Buchanan Communications                                       Tel: [phone]
Bobby Morse / Ben Willey                                      Mob: [phone]



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