Regal Petroleum started trading on AIM recently. With the help of London broker
Evolution Beeson Gregory; Regal raised 10 million valuing the company at
34million.

Regal is raised the money to increase production in the so-called Chernihiv
field in Ukraine. Regal currently has a 75/25 joint venture with Chernihiv a
state owned exploration company and drilling enterprise. The Chernihiv field is
situated in the most prolific gas and condensate region of the Ukraine, the
Dneiper-Donets Basin. This Basin currently produces 90 per cent of Ukraine’s
gas and condensate. An independent report estimates that the Chernihiv field
has a total of proven and probable reserves of approximately 905bn cubic feet
of gas and 51.52 million barrels of condensate.

Over the years 18 exploratory wells have been drilled. Of these wells 12 have
been flow tested and demonstrated that commercial quantities of gas can be
produced.Regal says that a work over of the Mex- 3 well last July meant the
group commenced commercial production in August 2002. To increase production
rapidly Regal plans to drill more wells and work over old ones. It hopes to
have three wells in production by the end of 2003.





Corporate website : www.regalpetroleum.com

Until then the price looks very unstable, thankfully i got out above 2 , but would have another go depdnding on news.

Dads army new board falling down on the job,time to get out for now

I'm back in ,they look undervalued at this price, time will tell ..
Risky play though.

interims are on the 28th,any views as to which way this can go,at the moment its any bodys guess but there was a big surge upwards just b4 the close after a very down day for regal.

LOSSES LOSSES AND MORE LOSSES APART FROM THE BAD NEWS !

More bad news, may test previous low59p, any views.

I nearly bought in @ 60p last time and I should have, of course it would have depended when I got out probably @ 180p.

This time well it looks buggered but if it hits sub 25p I might have a punt, what kept me out last time was I felt like I could not trust anything anyone said and what deals have gone on behind closed doors god knows, probably more yet to come out of the woodwork

I have to be honest and say i got roasted this time ,although a previous gain i made, may have me just on a loss overall ,you can't win them all.
Without the Ukraine ,what have they got ?? this really smacks of something rotten ,and yes they may have further to fall. Not a good day at the office !..

considering the amout of shares bought by big firms recently, who knows what is going on ,

Hey. I see this BB is active !!!!
Anybody got any views on this at the present. Finding the bottom on this oil slick isn`t easy to predict ! Obe

Big drop again,previous low was 57 p.

Capital group going to make a bid?

Wonderful news for regal as the court case is dismissed in favour of regal,if that is correct what i am reading as the news was at 17.56pm.any one please look at it and give there views about this news.

Regal Petroleum PLC
31 January 2006


Immediate Release 31 January 2006

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

Ukrainian Update

Further to the announcement dated 11 November 2005 regarding the legal challenge
brought by Chernihivnaftogasgeologia ('CNGG') against the Ministry of
Environmental Protection ('MEP') with respect to the validity of Regal's
production licences in the Ukraine, Regal has appealed such ruling to the Kiev
Court of Appeal but such appeal has been unsuccessful.

CNGG brought the legal action against its own parent organisation, the MEP,
claiming that the correct procedures were not followed in the awarding of two
production licences to Regal in July 2004.

On 11 November 2005, at the initial hearing of such action, the Kiev City
Commercial Court upheld CNGG's claim.

Regal lodged an appeal to the Kiev Court of Appeal contesting the earlier
ruling. The result of this appeal was delivered earlier today when the Court
dismissed Regal's appeal.

Regal is awaiting written details of such decision but has already launched a
further appeal to the Supreme Administrative Court of Ukraine to establish the
legality of its licences. The Company continues to be advised by its legal
counsel in Ukraine that the Company was awarded its licences in accordance with
applicable rules, standards and legislation of 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

what does the future hold for Regal? anyone care to comment!

rc,

Sadly, this looks pretty dire now!

If you hold, check the intraday as there is normally a savage knee jerk reaction, followed by a brief rally.

At this price, it may be better to wait for an annoncement from the company before making a hasty decision.

I sold before the previous disappointment thank goodness.

andy,
thanks for that.

go for MRP lads, look at the email I got... loads more good news to come

see MRP BB

rc,

There you go, back upwards again now.

Loads of action on this today looks like a case of falling knives.