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

Sue Helen,

This RNS issued by the LSE contradicts your "there was no gas" statement!

Or are you callinhg the LSE "gullible"?


Regal Petroleum PLC
11 May 2004



For Immediate Release Tuesday 11th May 2004


Regal Petroleum plc ('Regal')
Ukraine Operations


The Directors of Regal are pleased to announce, that following the successful
connection of the recently completed MEX102 well, production of gas and
condensate has increased from 244,000m3 to in excess of 830,000m3 of gas
equivalent per day.


In addition, the Directors are pleased to announce the appointment of Dr Luis F
Quintero as the Managing Director of Ukraine Operations, effective as of 18
April 2004.


The drilling of production well MEX102 was completed in mid March 2004 and
connected to the gas plant on 26 April 2004, following the installation of
infrastructure and testing. The flow from MEX102 has greatly exceeded
expectations having tested to 143,000m3/day gas and 232m3/day condensate on 9mm
choke. MEX102 was originally expected to have a daily production of circa
175,000m3 gas and 25m3 of condensate per day.


Regal now has four wells connected to the new gas plant: MEX3 and GOL1 (both
work-over wells), together with GOL2 (a former exploration well completed by
Regal as a production well) and MEX102 (a new well drilled by Regal). A further
work-over well SV10 has been completed and awaits connection to the plant.


Daily production from the field has increased substantially from an average of
244,000m3 gas equivalent to an average of 830,000m3 gas equivalent.


The separation and heating system of the treatment plant is currently working to
maximum capacity due to the unexpectedly high condensate flow from MEX102.
Modifications to the separation and heating systems and storage facilities in
order to increase the capacity of the plant have commenced so as to enable full
processing for production from all wells including SV10. Management are
confident that these modifications will be completed in approximately two months
and will result in a substantial increase in production.


The new Managing Director of Ukraine Operations, Dr Quintero, previously worked
for Petroleos de Venezuela (PDVSA) and Schlumberger in more than 18 countries
since 1984, covering a wide spectrum of the oil and gas industry. Dr Quintero
started his career in the fields of India as a wireline engineer, and went on to
positions in petrophysics, reservoir engineering, production engineering, field
development planning, project administration, financial analysis, asset
evaluation, business development and production enhancement. Dr Quintero worked
in the former Soviet Union, Eastern Europe, and the Middle East, and is very
familiar with the technology and operating practices in these areas. He was
Society of Petrophysicists and Well Log Analysts (SPWLA) regional director for
Europe, and has been a member of its technology committee for the past five
years. He is also the former production enhancement director for Pertamina. Dr
Quintero obtained a bachelor's degree from Universidad Simon Bolivar in
Venezuela, and a MSc and Phd in Petroleum Engineering from Louisiana State
University, in the USA.


Commenting of the Ukraine, Frank Timis, Chairman of Regal, said:


'Production in the Ukraine has reached a volume which is sufficient for
commencing exports. With our own gas plant approaching its full capacity and the
modifications to the gas plant underway, to enable substantially higher
production from our five wells, together with access to international markets
through our export pipeline, Regal looks forward to generating strong cashflow
from its Ukraine operations.


We are also delighted to welcome Dr Quintero to Regal's operational management
team whose expertise and credentials with large companies in the former Soviet
Union and Eastern Europe will contribute greatly to further progress in the
Ukraine.'



For further information, please contact:

Regal Tel: 020 7647 6622
Frank Timis, Executive Chairman

Buchanan Communications Tel: 020 7466 5000
Bobby Morse / Catherine Miles




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

these are starting to move.positive RNS today...back up to 1 shortly

whats the chances of them winning this final court battle, theyve won all the other ones!!

back on a roll now, quite good by the reaction.

this will increase further today could see 70p

i got in and out at a nice 20% profit today, dont know enough about this compamy but will come back and have a look.

good upstroke today

should see a 1 tomo

windsrgolf,

I agree, looking good on the chart.

May buy back in tomorrow.

Moving back up after todays low, with court date news due out this afternoon

good i was going to ask does anybody know when this vital cort case is going to be. look foward to the answer.

from Today's Sunday Times!




The Sunday Times April 16, 2006

City probe into Regal Petroleum
AN investigation has started at the London Stock Exchange (LSE) into allegations that Regal Petroleum, the embattled oil company, misled the market over oil discoveries in Greece, writes Louise Armitstead.

The probe was prompted by revelations in The Sunday Times that Regal was told its crucial Greek oil well was dry just weeks before it raised 37m from City investors.

The exchange has primary responsibility for the regulation of the Alternative Investment Market, where Regal has been listed since September 2002. The senior City watchdog, the Financial Services Authority, is also looking into the matter. The LSE declined to comment.

A senior oil consultant who tested the Kallirachi 1 well said he told Regal management in January 2004 that the well was not commercial.

Regal insisted: We stand by the findings in the exploration drilling report on the Kallirachi 1 well. The announcements made at the time were from advice from professionally technically qualified advisers.

But the experts have distanced themselves from Regal.

louises possible motives are being discussed at length on the other board-if even some of the scurillous rumours are remotely true then things could get nasty.

I thoroughly agree PW, and have posted to that effect on "the other board" ...... All the current evidence, old or not, legislates against any upside for the sp, or at least until the whole matter is aired (in court?) and clarified and/or until the ukrainian courts come down in favour of RPT ...... and that is far from a foregone conclusion.

Tomorrow morning may be an interesting time to make some money on a short tack ...... There looks to be some potential chart support at +/-78 but if sp falls through that, then it could be all the way down to 40

Handy if you do CFD's or Spread Bet then.

So Mr T loses yet again in Ukrainian courts in a dispute that has been running since 2004 ..... Mr T now says he will go to the Ukrainian Supreme Court, but I bet the lawyers are not paid out of his pocket.

With the demise of mafia boss John Gotti, the soubriquet of The Teflon Don could have passed to Mr T, but is his coating also now getting more than a little worn?

Since strong-arming back control of Regal a month or two ago, has Mr T done anything at all to benefit the shareholders? ..... If he has, he has been very coy in saying so.

I'm amazed Timis is still on the board - yet the institutions are backing this one big style - 80% of the co is held by insitutions with significant interests.

Is Regal one of those stories that everybody just wants to believe?

Cynic, can I take it you're likely to be shorting this one?

Dropping 26% to 60p now...looking bad...Mr Timis is a crook!


UK smallcap opening - Regal Petroleum hit by negative ruling in Ukraine
AFX

LONDON (AFX) - Regal Petroleum was the biggest loser, down 24 pence at 57, following news late on Friday that the Supreme Administrative Court of Ukraine has dismissed its appeal against an earlier ruling concerning the validity of the company's production licences in Ukraine, dealers said

A legal action was brought last year by Regal's former joint venture partner CNGG, which claimed that the correct procedures were not followed in the awarding of two production licences in July 2004.

So much for being Regal...looks like more downside on the way to 30p soon

Get into GOO