Ukraine Update

Regal Petroleum PLC
27 February 2008


27 February 2008

                              REGAL PETROLEUM PLC
                           ('Regal' or the 'Company')

                                 Ukraine Update


Regal Petroleum plc (AIM: RPT), the independent oil & gas exploration and
production company with interests in the Ukraine, Romania and Egypt, is pleased
to announce that it has now entered into the Letter of Intent (referred to in
the announcement dated 19 February 2008) with Saipem S.p.A, the international
drilling contractor, under which the parties have outlined terms for the
provision of 2 land rigs and 1 workover rig for use at Regal's gas and
condensate fields, Mekhediviska-Golotvschinska and Svyrydivske ('MEX-GOL' and '
SV') (working interest 100%), in Ukraine. The parties are now in negotiation of
the substantive contractual documentation related to the long term provision of
these rigs to support the Company's field development plans in Ukraine.  A
further announcement will be made on the conclusion of these negotiations.



For further information, please contact:

Regal                                                       Tel: [phone]
David J Greer, Chairman & CEO

Strand Partners                                             Tel: [phone]
Simon Raggett / Rory Murphy

Mirabaud Securities                                         Tel: [phone]
Peter Krens / Pav Sanghera

Citigate Dewe Rogerson                                      Tel: [phone]
Media enquiries: Martin Jackson
Analyst enquiries: Scott Fulton





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