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

I hate to be a kiljoy, but if you're gonna start a thread get the damn epic right! Grrrrr!

Gdub,

Tulletj has kindly corrected my typo.

Thanks for pointing it out.

Andy.

Ashley,

I saw the room up and looked in, and as there weren't any threads created, I couldn't resist posting the first one!

Do you have any opinions re RPT?

I do feel they are worth a bit of a punt, but with risk money only.

Shares Mag have a "buy" recommendation in tody's edition, although I haven't had time to read the article yet.

Andy.

Hi Andy!

Well done, didn't mean to be rude by pointing it out, but it's a bit of a bugbear of mine.

RPT has great potential, so good luck.

Gdub,

No offence was taken, and I'm glad you pointed it out so it could be corected.

I agree with you that it's important to start a thread with the correct epic.

Cheers.

Regal are on the move again, and with their recent drill and export news, could be due for a rerating once they start to export from the Ukraine.

Regal is the FIRST non Ukranian company to be given an export licence by the Uktranian government!

good thread andy.always glad to hear of interesting companies.

gardyne,

Many thanks indeed!

I honestly think Regal may be worth watching, and once they begin to export gas, with the 50% higher price, they could well be worthy of consideration.

In particular, I like the fact that they sell cash on delivery within the Ukraine, so no bad debt problems!

Regal are also debt free, with a decent balance in the bank.

andy,I noticed all buy trades today monitoring this one very carefully.

gardyne,

Regal have been on the aquisition trail, and have bought into a company with producing oil wells in the Agean Sea!

------------------------------------------------------------------------------

LONDON (AFX) - Regal Petroleum PLC said it has signed heads of agreement to
buy a 90 pct stake in Eurotech Services SA with the issue of up to 5 mln shares,
giving Regal a 60.3 pct holding in Kavala Oil SA.

Eurotech is a private company based in Greece, which owns 67 pct of Kavala.
The deal means Regal will indirectly own 60.3 pct of Kavala.
Kavala is a private company with assets which comprise a producing oil
project in the North Agean Sea. As part of the deal, Regal will provide Kavala
with a 30 mln usd loan facility to develop its oil fields and increase
production.

Kavala has the exclusive right to develop three oilfields with proven oil
reserves known as Prinos, Prinos North and Epsilon and one exploration and
development field known as Kallirachi. It also has the exclusive right to use
and operate a state owned oil facility capable of producing 40,000 barrels of
oil per day including all production, processing, loading and transport
infrastructure.

The agreement gives Regal the exclusive right to proceed with the proposed
acquisition until Sept 30.

Regal is proposing to appoint chief executive Guenter Nolte and finance
director Glenn Featherby to the board of Kavala, while Nikolaos Loutsigkas,
president and managing director of Kavala, will be appointed to the board of
Regal.

newsdesk@afxnews.com
shw

andy,thanks again for the update on regal.what are your views on dana should I wait until the share consolidation is out of the way before getting involved?

Gardyne,

Sorry I don't follow Dana, so have no views.

I theory a consolidation shouldn't effect the price as the fundementals remain the same, it's an excercise to make the share more attractive to institutions, who don't like to deal in "penny shares".

I have checked out a Dana thread on another BB, and the resident posters seem happy enough (although that is common of most threads on finacial BB's, so shouldn't read too much into that) an there is apparently an AGM at the end of the month.

I have started a Dana thread, so let's see if people post comments on there to help you.

Im in this one Andy and feel it has a massive future. The signing up of the German Oil man nolte from Halliburton goes to show how much he feels about this company. Good luck.
GF.

GF,

Thanks, you too!

I feel RPT have considerable growth potential, and that's without anything they may fiond in Romania, which, after all, is frank Timis' home ground, so I am reasonably confident there too.

I'm pleased this seems to have been missed by the market, and hopefully I can build a bigger stake before any rerating.

Andy.

Another nice tick up on Regal again today, on an otherwise red day for the market as a whole.

RPTare now approaching their all time high again, and could be worth watching closely for signs of a breakout.

Don't forget Regal are a producer of gas and oil, and only consider proven exploration projects, have cash in the bank, and no debts.

Bad news today - I have sold all my holding for a small loss.

http://moneyam.uk-wire.com/cgi-bin/articles/200309031006453277P.html

I will wait until the prices has settled, and the escrow due at thge end of September is out of teh way before deciding whether to re-invest or not.

Very disappointed with this news, I did think RPT would be a solid long term growth stock.

I have been watching RPT since my sale, and they have recovered very well indeed. I am now considering re-investing in RPT.

I have pasted a couple of the most pertinent news items below;
--------------------------

04 December 2003
For Immediate Release 4 December 2003

REGAL PETROLEUM PLC

('Regal' or 'the Company')

UKRAINE EXPORT PIPELINE COMPLETED AND CONNECTED


The Board of Directors are pleased to announce that a 13.2 km export pipeline
constructed by Regal, connecting the company's gas processing plant in Ukraine
to the International export trunk line to Western Europe, has been completed and
connected.

All Ukraine government approvals have been obtained and the company's existing
gas production is now being transported through the new pipeline which has a
capacity of 4 million cubic meters of gas per day.

Completion of the pipeline is the culmination of Regal's plan to be independent
of the State owned infrastructure. The company now operates it's own gas and
condensate wells, gas processing plant and pipelines.

Executive Chairman Frank Timis said:

'Completion of the pipeline is a major achievement for Regal as it will
facilitate the planned export of Ukraine gas production and ensures company
control of the infrastructure as well as providing significant cost savings'.

----------------------------------------

19 November 2003


Immediate Release 19 November 2003

REGAL PETROLEUM PLC
('Regal')

Kavala Oil S.A. Commences Drilling of Kallarachi Prospect, Greece

The directors are pleased to announce that Kavala Oil S.A. ('Kavala') has
commenced drilling of an exploration well at the Kallarachi exploration field.
Based on an independent opinion by consultants Troy Ikoda, the field is expected to contain up to 227 million barrels of recoverable oil.

The well is scheduled to be drilled to its target depth of 2,500 metres by 31
January 2004 and is budgeted to cost US$8.5 million. The cost of drilling is
being funded by the US$30 million credit facility provided by Regal to Kavala.

Kavala is a private company incorporated in Greece in which Regal has an
indirect 57.69 per cent. interest.

Nice jump in price today!!!

excellent announcement from regal


Regal Petroleum PLC
06 April 2004


6 April 2004

REGAL PETROLEUM PLC

Acquisition of onshore oil interest in Egypt

Regal Petroleum ('Regal') is pleased to announce that it has signed heads of
agreement to acquire, subject to Egyptian government approval, LK Exploration
N.V.'s ('LKE') interest in certain petroleum exploration and production rights
in the East Ras Budran Area, Gulf of Suez, Egypt.

The property contains four large prospects identified following the evaluation
of existing data. The prospects have the potential for significant oil reserves.
An independent study will be completed in due course.

The concession area is in one of the most prolific petroleum provinces in the
world. Surrounding oil fields nearby include Ras Budran, October, Abu Rudeis,
Belayim Onshore and Belayim Offshore, which range from 270 million barrels to
over 1 billion barrels of recoverable reserves.

During the first three years of the concession period, Regal has a commitment to
spend $4million during the exploration stage.

A further detailed statement will be made in due course.

ssanebs,

Yes I agree, and Regal are really putting themselves on the map now.

One small concerns may be the words "subject to Egyptian govt approval", as any CEY holder will tell you!

However, assuming the Egyptians will be as keen as anyone to extract their resources, I'm sure Regal will be able to conclude such a deal.

Watching these developments with interest.