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

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

Where on the march again, Frank Timis bought another 150,000 shares today at 350p . How is that for confidence in Regal Petroleum.The chairman certainly believes in Regal good luck to all you shrewdies on board.

regards bowman

Where are on the move again at Regal Petroleum, is this upward trend back ??????

Regal Petroleum eased 2.5p to 366.5p on the weak oil price. House broker Evolution Securities remained positive, issuing a buy note with a 515p target price. Evolution believes drilling at an appraisal well at Regal's Kallirachi discovery in Greece will be completed early next year

Suprised to see no mention of RPT for so long given the current rising price.

The all time high may soon be in sight gain, and with FT's recent purchase, I wouldn't bet against that being broken either.

I'm keeping a close eye on RPT, director buys at market price are a good signal IMHO.

where on the march at Regal Petroleum ,ticking up nicely today. Is there some news from greece or romania expected .

Cheers Bowman

bowman... article in Times yesterday... greek (+) drilling update this week?!

The buy price looks very juicy today with romania and greek news to come out , there is a few more i favour as well like the monstermob and bhb billiton.

cheers Bowman

Whoops, sorry about that. There was an article in the Times yesterday which said that Frank Timis (the big Boss at Regal) has delayed making any drilling announcements for another two months - he wouldn't say why.
I also own shares in this company and so am a bit nervous with all the delays. Hope I'm wrong.

it has turned into a nightmare this stock ,i am sure freddy crougar has shares in this stock regal petroleum . Very volatile.

regards bowman

I'm in two minds whether to sell my remaining shares in this company. They announced mixed news on Monday: they've made a 'significant discovery' in their Romanian gas fields but are producing substantially less oil in their Greek oil feeds than they hoped due to continuing technical problems.
If I do sell I would probably add to my holdings in MOI. What about you, bowman? Are you going to hold or fold?

pma68,

To be honest I thought Monday's news was ok, and am very surprised to see the price down so much.

maybe a buying opportunity coming up?

I will be watching the chart and indicators closely.

Hi Andy. Thanks for the reply.

You could be right regarding a buying opportunity. However, there's only one problem - due to the stock markets performance over the last few weeks my portfolio has taken a right battering.

Most of my holdings are in AIM companies and all I can see on my stock screen is RED! I've not been at this game long and the way things are going I won't be in it much longer!!!

Another bloodbath..............

I do hope those above dumped after the last blip.

EVO and RPT must have had suspicions of this.

Bound to have a knock on to other E & P Companies today.