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

WHERE IS THIS HEADING THAN,LOTS OF SELLING AT THE END,HOPING FOR SOME GOOD NEWS.

ateeq180,

Volume is tailing off, so may retrace a bit, but Regal is very news driven at the moment, so any good news would see the rise continue IMO.

crucial talks this week regarding the Ukranian assets that F. Timis has supposedly sold without board permission! I can't see how it's legal, but as they are negotiating, I guess it must be!

GOOD RISE FOR THE PAST FEW DAYS,AND NOTHING FROM ANY ONE AS TO WHICH DIRECTION THIS IS HEADING.

NO ONE INTERESTED IN THIS,AS MY EARLIER POST THIS ONE TO ME LOOKS LIKE HEADING BACK TO A REASONABLE LEVELS AFTER A SHARP DECLINE IN THE PAST TWO MONTHS.ANY VIEWS.

I'm in this ateeq180 ,and have been for the last couple of months ,,it's a bumpy ride, but has been going up nicely ,there is news coming in the next few days so i'm happy to hold for now..

Dads Army will work to make RPT climb back to previous high levels, in at 79 pence,d/army doing a great job so far.

Well just as Regal appeared to heading back from the brink, we have further trouble!
-----------------------------------



Striking workers seize Regal oil field
By Roland Gribben (Filed: 03/09/2005)

Regal Petroleum has appealed to the Greek Government for help after striking workers seized control of its tiny oil field north of Thessalonica.

The struggling Aim-listed oil explorer said yesterday it had issued instructions to halt operations but the 230 workers, in dispute over a cost cutting package, have ignored the order and are preventing managers from entering the field.

Rex Gaisford, chief executive, said: "We are concerned about the safety of the operations and the Greek Government is supporting us but it is difficult when we can't get access to the plant."

The latest drama in what has developed into a Greek tragedy means Regal has had to mothball plans to raise production and make the operation profitable and yesterday told the market it will fail to meet output and financial forecasts.

Regal has lurched from crisis to crisis since its shares, listed at 60p three years ago, peaked at 509p in March. In May the shares went into free fall, plummeting to 73p after the company cut Greek oil reserves by 70pc to 24m barrels and Frank Timis, chairman, chief executive and founder, was ousted after secretly negotiating a deal to sell the company's Ukrainian assets.

The shares, after staging a mini-recovery last month, dropped another 32p to 174p yesterday as the attempts by a new management team, headed by Mr Gaisford, an Amerada Hess veteran, to overhaul the troublesome Greek operations ground to a halt.

Regal's plans to halve the workforce and reform working practices unchanged since the 1970s formed part of a plan to more than double production from an unprofitable 1,600 barrels a day to 3,500 by the end of the year.

"The current working practices are like walking through a living museum," said Mr Gaisford.

Last year Regal spent $60m (33m) trying to boost reserves and is holding out to Greek ministers the prospect of investing another $160m-$170m in the Kavala Oil complex and other potential onshore and offshore exploration opportunities if it gets agreement to work reforms.

The Greek government, which owns the installations, has a business as well as political stake in the outcome.

Mr Gaisford says: "I am hopeful that there will be continuing value in the operations for Regal and its shareholders as well as the Greek nation."

The company hopes to complete a review of Greek and Ukraine oil and gas reserves by the end of the month. It is negotiating a revised package for the sale of the Ukrainian assets to Hong Kong-based Peak Resources after rejecting an initial $300m offer made to Mr Timis.

Regal Petroleum PLC
15 September 2005


Immediate Release 15 September 2005

REGAL PETROLEUM PLC
('the Company')

Ukrainian Update

The Board of Regal, having noted the recent movement of its ordinary share
price, is aware that there is continuing speculation in the market regarding
court proceedings relating to the former joint venture in the Ukraine between
Regal and Chernihivnaftogasgeology.

The Board is now able to confirm that the appeal referred to in Regal's
'Ukrainian Update' announcement dated 9 September 2005, will be the subject of
an appeal court hearing on Thursday, 22 September 2005.

A further announcement will be made once the appeal court ruling has been
delivered.


For further information, please contact:

Regal Tel: 020 7408 9500
Roger Phillips, Finance Director

Buchanan Communications Tel: 020 7466 5000
Bobby Morse




This information is provided by RNS
The company news service from the London Stock Exchange

Until then the price looks very unstable, thankfully i got out above 2 , but would have another go depdnding on news.

Dads army new board falling down on the job,time to get out for now

I'm back in ,they look undervalued at this price, time will tell ..
Risky play though.

interims are on the 28th,any views as to which way this can go,at the moment its any bodys guess but there was a big surge upwards just b4 the close after a very down day for regal.

LOSSES LOSSES AND MORE LOSSES APART FROM THE BAD NEWS !

More bad news, may test previous low59p, any views.

I nearly bought in @ 60p last time and I should have, of course it would have depended when I got out probably @ 180p.

This time well it looks buggered but if it hits sub 25p I might have a punt, what kept me out last time was I felt like I could not trust anything anyone said and what deals have gone on behind closed doors god knows, probably more yet to come out of the woodwork

I have to be honest and say i got roasted this time ,although a previous gain i made, may have me just on a loss overall ,you can't win them all.
Without the Ukraine ,what have they got ?? this really smacks of something rotten ,and yes they may have further to fall. Not a good day at the office !..

considering the amout of shares bought by big firms recently, who knows what is going on ,

Hey. I see this BB is active !!!!
Anybody got any views on this at the present. Finding the bottom on this oil slick isn`t easy to predict ! Obe

Big drop again,previous low was 57 p.

Capital group going to make a bid?