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

keeps going higher!

from the FT......come on 3 quid!

FT.com > Markets > Equities > UK

http://www.ft.com/markets/equities

"HSBC keeps FTSE on upward curve"


Meanwhile, Mr Timis had turned his attentions to Regal Petroleum, a company he founded. Drill results from two key wells in Ukraine would be fantastic, with the potential to triple production, and shares could reach 300p by the end of the year, he told DealReporter. Regal shares fell 1.5 per cent to 117p

I'd be extremely wary of anything Mr Timis says regarding RPT, marni.

All being well, it'll get there without his "help". ;-0

good update today i think........anyway sp going up again

;-))

what do u make of todays announcement al?

huge volume on this today......could this be a huge spike up

cant believe no comments on this!

huge volume today! seems good news and sp up a lot........jes, what more do u lot need.........i've been banging on about this most of year but it appears everyone is blind or deaf

Big rise coupled with big volume always makes for a good deal of happiness, marni. ;-))

Read the news, naturally, and things look good overall. Am intrigued by all the kicks, though - never the best thing that can happen to you and I find it strange they took so many. Unfortunately I don't know the area well enough to make an informed comment - so I won't!

They say they've learnt many lessons and are applying them to SV-61, but it seems the potential trouble is deeper than where they are now. Time will tell, if they've learned all the lessons correctly. It doesn't always happen, trust me.

However, for now, we'll go with the flow, will we?

now at all year high today! jes, i keep on backing huge winners

and not a single stinker either ...... clearly one of maestro's star pupils

Well I sold out on the previous spike 117p I think...only 3000 barrels of oil production by late 2009...perhaps too early possibly....market cap pretty high now...

disagree required.....huge reserves....in fact this is still undervalued in elation to other oil shares imho

merrill lynch has updated note with much higher sp target

Perhaps you're right... might come back...just too many good ones to cover at the moment..

yes i agree, just wish i had more cash to put on others too

Shares in AIM-listed Regal Petroleum (RPT) jumped about 15% to 116p on Wednesday in strong volume following an operational update on two key wells and company broker Merrill Lynch asserting a risked net asset value of 180p a share.


Editor's Pick: Podcast: Edmond Jackson on Regal Petroleum

This appears to bolster the case I advanced on 14 September for Regal as the kind of exploration and production share capable of going through step changes in value, with further active wells and updates due

a bit accident prone aren't they, rather like EME
i hope (even for marni) that the malodourous ghost of timis does not come back to haunt with disproportionate effect on sp

Glad I sold earlier but still on the watchlist....

Not the best piece of news today, unfortunately. At least they're honest and say it will be difficult - damned right. All they say is "deep" so it must be down at perforation depth??? Dunno.

I get the impression they're disappointed with the flowrate all round. Quite rightly IMO. It'll take some time to recoup the cost of drilling such a deep, long well. Production before winter is a good thing, mind, depsite the low flowrate

Any idea which way the sp is going to go ?, I would think that the sp will drift back to the upper eighties because the market cap is 357 million pounds : that's a lot (if that's correct).