Ukrainian Update

Regal Petroleum PLC 03 October 2005 For immediate release 3 October 2005 REGAL PETROLEUM PLC ('the Company') Ukrainian Update The Directors are pleased to announce that the Ministry of Fuel and Energy of Ukraine has issued Order No 492 authorising the commercial production of the Company's Svyrydivske ('SV') licence in Ukraine. The Company was issued full production licences for the SV field and the MEX/GOL field in July 2004 and accordance with governmental procedures the Company has now received Order No 492 (issued on 29 September 2005) and Order No 115 (issued on 18 March 2005) from the Ministry of Fuel and Energy of Ukraine ('MFEU') authorising commercial production from all the Company's Ukraine licence areas. The issuing of these orders by MFEU demonstrates the authenticity of the Company's production licences. Further to the Company's announcement yesterday advising of an intended legal challenge to the Company's licences in Ukraine, the Directors advise that, as expected, Chernigivnaftogasgeologia has filed a legal action against the Ministry of Environmental Protection with the Kiev City court. The Company continues to be advised by its legal counsel in Kiev that the Company was awarded its production licences in accordance with applicable rules, standards and legislation of Ukraine. Commenting on the recent Ukraine development, Rex Gaisford, Chief Executive Officer said: 'I am delighted that the Ukraine Government has effectively confirmed the authenticity of our production licences in Ukraine. We are confident that the legal challenge filed by our former joint-venture partner will shortly be dismissed by the courts and we will be able to continue with our planned investment in Ukraine.' For further information, please contact: Regal Tel: 020 7408 9500 Roger Phillips, Finance Director Buchanan Communications Tel: 020 7466 5000 Bobby Morse This information is provided by RNS The company news service from the London Stock Exchange
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