Ukraine Update

Regal Petroleum PLC
16 May 2007



Immediate Release                                                    16 May 2007

                              REGAL PETROLEUM PLC

                           ('Regal' or 'the Company')


                         Update on Ukrainian Operations


Regal is pleased to announce completion of both the pipeline which connects the
SV-10 well to the existing Regal-owned MEX-GOL facility and the near completion
of the 3D seismic survey over the MEX-GOL field in Ukraine.


As announced in January 2007, Regal has tested the SV-10 well on the Svyrydivske
('SV') field and has since constructed a new 4.3 kilometre pipeline connecting
the well to the Mekhediviska-Golotvschinska ('MEX-GOL') gas gathering facility.
The SV-10 well was originally drilled in 1998 and was subsequently worked over
by Regal in late 2006 using coiled tubing and nitrogen lift. The well was flow
tested from mid November 2006 to February 2007 during which time average flow
rates of approximately 46,000 m3/d of gas (1.62 mmcf/d) and 8.5 m3/d (50 bbls/d)
of condensate were achieved.


Average production in April 2007 from Regal's existing Ukrainian pilot
production operations was 117,100 m3/d (4.14 mmcf/d) of gas and 48.9 m3/d (290
bbls/d) of condensate.


Final pressure testing of the new pipeline is underway and, once completed, gas
and condensate is expected to be available for sale before the end of May 2007.
The additional production from the SV-10 well is forecast to increase the daily
volume by some 25 per cent.


In addition, the acquisition of a 3D seismic survey covering approximately 100
square kilometres of the MEX-GOL production licence, which commenced on 24
January 2007, is nearing completion. The field crew has successfully acquired
over 96 square kilometres of the survey and is now acquiring minor infill data
to improve quality. This data will now be processed and interpreted by
Ukrgeofizika and once interpreted, the data is expected to form the basis of a
new reserves determination.


Neil Ritson, Regal's Chief Executive Officer, commented, 'We are delighted with
the progress on field operations which has been made since receiving the Supreme
Court judgment supporting our title in December last year. The permanent hook up
of a fifth producing well will provide a significant increase in production and
the new 3D seismic should greatly assist in the full field development which
will be underway with the commencement of drilling planned for the summer.'


As previously announced, the Company is presently in the early stages of a
partial divestment process relating to its Ukrainian production assets through
advisors Tristone Capital Limited ('Tristone'), with a view to further
accelerating the field development with a strategic partner. Qualified parties
have been contacted by Tristone and proposals will be sought in due course.





For further information, please contact:

Regal                                                 Tel: [phone]

Neil Ritson, Chief Executive Officer
Frank Scolaro, Chairman


Definitions:

m3/d             cubic metres per day
mmcf/d           million cubic feet per day
bbls/d           barrels per day


In accordance with the guidelines of the AIM market of the London Stock Exchange, 
Neil Ritson BSc (Hons) Geophysics, FGS, Chief Executive Officer of Regal 
Petroleum plc, is the qualified person that has reviewed the technical 
information contained in this press release.




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