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: [phone] 

Keith Henry, Chairman

Robert Wilde, Finance Director

Strand Hanson Limited                    Tel: [phone]

Simon Raggett / Rory Murphy

Citigate Dewe Rogerson                 Tel: [phone]

Martin Jackson / Kate Lehane

 

END

 

 

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