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

mitzy,

A comment from today's Independent;

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Profit-taking left Regal Petroleum 19.5p lower at 411.5p. Nevertheless, the explorer boasted that it had been awarded production licences for gas fields in the Ukraine. The most recent gossip surrounding the stock has been of a positive update before the end of the summer from Regal's operations in Greece. Bulls of the stock are also excited about the prospects for the company's Romanian gas assets, a statement about which is also expected soon from the company.


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I held RPT last year, and am thinking about reinvesting once again, as there does seem to be a tranche of possibly good news on the horizon, alkthough some may already be priced in.

Thanks for that Andy...yes the Ukraine news is very exciting for RPT.

excellent rise last week
should see 500p

kitkat,

Not quite broken the down trend yet, see chart above.

Any further rise will do, and I'm keeping a close eye on it.

hi another not very good day

Evolution securities new target price of 557p for Regal Petroleum . Tipps.com says buy regal . city wire says buy regal get on board before it is to late.

regards bowman

one tipster giving a buy reccommendation values Regal Petroleum like this

kallirachi 284p share
ukraine 162p share
epsilon/prinos 126p share
egypt/romania 0p share
Total price 572p share value
Romania could catch everyone out gas fields there could add some spice to the total assets.

regards bowman

Rumour of the day Regal petroleum to start drilling in Romania in a few days from The Times newspaper.

So why are the shares not going up ? but going down all week.

So why as the share price been going down all week?

So why as the share price been going down all week?

OK they going up now. lol

Keep talking

I can feel this going up big! in my waters.

hi dikytree is that greek waters . romania should be next news with two large prospects being lined up for drilling there.

chairman Frank Timis buys 150000 shares at 332p costing 500k.

Sadly the downtrend since June is still intact.

Let's see what next week brings in the light of Frank's purchase!

something is going down at Regal petroleum , a lot of buyers today

bowman,

It was tipped by Tom Winnifrith in an email yesterday.

Thanks Andy for that info

regards bowman