Regal Petroleum says is in early-stage offer talks

LONDON (AFX) - Regal Petroleum PLC said it is currently in very early stage discussions which may or may not lead to an offer being made for the company.

share has potential for high short term gain, however high risk share as well.

and also has to be a good chance that no deal materialises due to underlying litigation etc etc

Bit of action today. In auction at the moment

Lot of action today. Doubled since the last time I mentioned them.

was 50 p when posted now 1.75 please to see target

Lots of upward mvmt - why ?

Today's RNS - makes it a big temptation!

LONDON (Thomson Financial) - Royal Dutch Shell has proposed a $1.2 bln takeover of oil and gas explorer Regal Petroleum, the Daily Telegraph reported.

Shell, which was rejected when it tried to reach a deal with Regal last year, is understood to have written to the company's chairman, Keith Henry, within the last few days, the report said.

The proposal, worth 300p a share, is a huge premium to Regal's closing price yesterday of 83p, it said.

But Shell's interest is likely to put Regal at the centre of a bid battle. It is thought that a number of companies have approached Regal in the past two months, including Russia's Lukoil and Gaz de France.

Shell has asked Mr Henry that the two sides try to reach a deal by October 20, the newspaper cited an unnamed source as saying.

personally, i would steer well clear of any company associated with Timmis .... apart from the fact that there is a russian element in any bid, Timmis has a well proven record of being totally crooked.

Thanks for reminding us Cynic - had not had time to check this out

arguably too late now ion any case

Regal have officially denied the bid rumour, Shell haven't so it must be right ;o) On the other hand, it was probably started by Timmis! The company does have some desirable oil assets though.

Mr Timmis NOT being one of them!

very odd.

haven't been able to get any quote at all on this all day.

CNBC have the sp as 100p. I have it at 115p.

Mind you, CNBC's info the last few hrs has been very dodgy ....

IG live quoting 115.5 / 116.75

Shell's bid is back on!

http://www.rigzone.com/news/article.asp?a_id=67598

who says? ..... the article you mention reports, "Van Daele (Shell) declined to comment on recent media reports that Shell has proposed a $1.2 billion takeover of London-listed Regal Petroleum. Regal has denied reports, but said it is in talks with potential strategic partners to develop its gas reserves in Ukraine."

and i see the lemmings have been mugged yet again by Mr Timis and his band of robbers .... quick spike to 120 in early/mid october and back down again like a stick

Your views appreciated cynic has it bottomed out ..it rose sharply today before falling back .. will the bidder return to talks.



my view is it is a buy.

Looks like the latest rns has caused panic and sell off overdone IMHO......should bounce from here and be over a quid in the morning....