Regal Petroleum plc
("Regal" or the "Company")
7 July 2011
CLOSING OF SALE OF INTEREST IN
EAST RAS BUDRAN CONCESSION, EGYPT
Regal, the AIM-listed oil and gas exploration and production group (symbol: RPT), announces that it has completed the sale of its 25% non-operated interest in the East Ras Budran Concession in Egypt to Apache East Ras Budran Corporation LDC ("Apache").
The consideration payable under the sale agreement was US$1,100,000, which was subject to accounting adjustments under the joint venture between Regal and Apache, resulting in net receipts to Regal of US$640,344, which were paid on completion.
For further information, please contact:
Regal Petroleum plc Tel: 020 7408 9500
Keith Henry, Chairman
Robert Wilde, Finance Director
Strand Hanson Limited Tel: 020 7409 3494
Simon Raggett / Rory Murphy
Citigate Dewe Rogerson Tel: 020 7638 9571
Martin Jackson / Kate Lehane