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

according to him on franktimis.com

adds even more weight to what i wrote then!

Thats the same artical i read cynic.

NEWS today


Regal says Ukraine performance improved

Oil and gas group Regal Petroleum says its current total daily field production rates in the Ukraine are 2,166 boepd, reflecting a slightly improved performance from its SV-58 well.

SV-58 production has stabilised following a successful abrasive perforation trial.

Earlier than planned cessation of drilling in the SV-61 6" hole section, in conjunction with the parallel abrasive perforation operations planned in both SV-58 and SV-61, should result in an improvement in production rates in the near future.

Nice bounce from lows
RPT gas processing facilities are currently 700,000m3.

FT Alphaville today

NH Some questions about Regal
NH and the latest update
Regal Petroleum (RPT:LSE): Last: 75.00, up 1 (+1.35%), High: 77.00, Low: 71.50, Volume: 1.61m
NH I yes
NH the Sector Watcher has been on
NH RPT's share price has been battered recently on no newsflow, so today's operational update offers some welcome clarity. Where are we? Well, good news is that production has risen about 5% in the past week or so, driven by strong performance from the SV-58 well. MEX-106 is almost ready to test the T and D sands, following some remedial work removing obstructions in the well. SV-66 is drilling ahead strongly. SV-58 has another 75m of target reservoir to be tested following the mobilisation of the necessary equipment for the abrasive perf. Negative? Well, SV-61 is suspended following some difficulties in the T sands, so we wont get a good read on that until T and D can be tested in nearby SV-66.
NH Upshot? All the bad news, such as it is, is in the price, and more. There's a series of strong catalysts upcoming operationally, and production continues to grow and drive cashflow. Yes, there have been operational challenges, but management has proved to be the master of them, and we continue our STRONG BUY recommendation driven by valuation discrepancy and strong near-term visible catalysts. BUY RPT.

This is one oilie that I have big doubts about....how much is the market cap ? 250 million pounds with I think only 2000 barrels per day equivalent....on the front cover of Shares mag this week...I have not read the article yet...will do over the weekend.....but the directors have sold a lot of shares with an after hours rns....not very good timing : in my view 50p sp could be a target....

I have read the article but not convinced by Greer at all.

Regal Petroleum plc

22 January 2010

Sale of Shares by Directors

The Company has today been notified that the directors of the Company set out below, sold, on 21 January 2010, an aggregate of 860,417 ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares") at an average price of approximately 0.7675 each, primarily to cover exercise costs, tax and national insurance relating to the Long Term Incentive Plan Awards ("LTIP Awards") exercised by such directors on 20 January 2010.

Further details of such sales, together with these directors' holdings of Ordinary Shares, their respective percentage of the issued Ordinary Share capital of the Company, and their remaining holdings of LTIP Awards are as follows:-

Directors:

Keith Henry
Number of Shares Sold 41,667
Resultant Holding of Shares 150,000
Percentage of Issued Share Capital 0.05
Holding of LTIP Awards 283,334


David J Greer
Number of Shares Sold 400,000
Resultant Holding of Shares 510,000
Percentage of Issued Share Capital 0.16
Holding of LTIP Awards 900,000


Hendrikus Verkuil
Number of Shares Sold 229,375
Resultant Holding of Shares 230,000
Percentage of Issued Share Capital 0.07
Holding of LTIP Awards 383,750


Robert Wilde
Number of Shares Sold 189,375
Resultant Holding of Shares 120,000
Percentage of Issued Share Capital 0.04
Holding of LTIP Awards 533,750

To me it looks like a short (not that i'd be tempted) but still the same......big oil spill in Texas.....might put a little bit of upward pressure on crude...disruption of supplies...shortage possibilities....etc....

Frank Timmis is at it again, I'm sure...65p now.

And David Greer is saying it's doing well but why is he selling RPT shares then?

sup with the devil etc

Scarey chart.

Another support level breached.

often disagree with hyleo, but have been saying for ages and ages that any company in which timmis has his stinky sticky fingers should be avoided

=============

i wonder if marni is still in this ...... (s)he was touting it strongly for ages but very quiet of late ..... boiled or fried alive maybe

Think I posted ages ago that I hope marni had cut and run. Nice earner to that point, but it's halved since with probably more to come.

And it is 50p now... David Greer doesn't instill any confidence at all.

and 45p now.

Surprised this one hasn't brought comment over the past couple of days. ;-))