Closing of sale

RNS Number : 0089K
Regal Petroleum PLC
07 July 2011
 



 

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


This information is provided by RNS
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