Ukraine Update

Regal Petroleum PLC
19 February 2008



19 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 provide an update of its Ukrainian operations as follows:-



1)    Regal is currently finalising a Letter of Intent 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;



2)    Regal has entered into 2 Letters of Intent with Region Ltd, a Ukrainian
based drilling contractor, under which the parties have outlined terms for the
provision of 1 land rig and 1 workover rig respectively for use at Regal's MEX-
GOL and SV fields;



3)    Regal has entered into a Working Group Agreement with NAK Nadra Ukrayny
and Chernihivnaftagasgeologia ('CNGG'), under which the parties have outlined
terms for co-operation in connection with the development of Regal's MEX-GOL and
SV fields;



4)    Seismic acquisition over the SV field, which has been underway since early
January 2008 is progressing satisfactorily and approximately 32% of the
acquisition has now been completed.  The acquisition programme is expected to
take a further 2-3 months to complete.


5)     Drilling of the MEX-103 well, which is the first new well on  the MEX-GOL
field since 2004, is continuing and has reached a depth of approximately 4,150
metres. The drilling is being conducted by CNGG under a contract signed in July
2007 and the well, which has a total targeted depth of 5,200 metres, is
anticipated to be completed in mid-2008.


This well is the first stage in the full-field development programme for the
MEX-GOL and SV fields which contain audited proven and probable reserves
estimated, as at 31 December 2006, at 169 million barrels of oil equivalent,
based on a reserves audit conducted by Ryder Scott in 2005.


Regal is currently preparing sites and applying for permits for the drilling of
additional future wells which are planned for drilling once the additional rigs
are available in Ukraine.


Regal's Chairman and Chief Executive Officer, David J Greer, commented:


'We are extremely pleased to have signed the above Letters of Intent in relation
to our planned drilling campaign which represents further good progress in our
Ukrainian asset development programme.  We look forward to finalising all
contract terms in a timely manner and to the safe and efficient execution of our
field development programme.'




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



In accordance with the guidelines of the AIM market of the London Stock
Exchange, Antonio Mozetic, PhD Geological Sciences, SPE, Director of Regal
Petroleum plc, is the qualified person that has reviewed the technical
information contained in this press release.




                      This information is provided by RNS
            The company news service from the London Stock Exchange