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 recently purchased some Regal shares, as there is a VERY bullish statement
and price target set by the house broker.

I consider Regal to be a medium to high risk stock, with a good chance of a
decent return in the medium term.

Hey! Who let him in early!

Yer I was well miffed not getting the first thread :)

Well that's a good start - "symbol not recognized" when clicking here on epic. And Sharescope has PRT as 'Partner Holdings'(classed as General retail sector, but defunct as of 2 years ago).

Edit: Aha, solved it Andy, it's RPT not PTR.

;-)

Andy,

Well done in straight away Thread Numero Uno!

BOL RPT

Cheers

Ash

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.