AGM Statement

Regal Petroleum PLC
01 July 2003


For Immediate Release                                                1 July 2003


                         Regal Petroleum plc ('Regal')

                         Annual General Meeting ('AGM')


At today's AGM, all resolutions outlined in the Annual Report and Accounts for
the period ended 31 December 2002 were unanimously passed.

Commenting to shareholders at the AGM, Frank Timis Executive Chairman, said:

'In the nine month period since we floated, Regal has made considerable progress
with its strategy of becoming a fast growth European exploration, development
and production company.  As of this month, we have three wells in the Ukraine
producing approximately 450,000 m3  of gas per day, and the first phase of
Regal's new gas processing plant has now been completed and it is fully
operational.  Regal has also acquired a significant onshore gas and oil license
in North East Romania, as well as signing heads of agreement to purchase a
majority stake in a significant oil producing venture in North Eastern Greece, a
transaction which is likely to be completed by mid August this year.'


For further information please contact:

Regal                                                       Tel: [phone]
Frank Timis, Executive Chairman
Glenn Featherby, Finance Director

Buchanan Communications                                     Tel: [phone]
Bobby Morse / Catherine Miles



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