Completion of Sale

RNS Number : 9253I

Regal Petroleum PLC

31 July 2012

 



Regal Petroleum plc

("Regal" or the "Company")

31 July 2012

COMPLETION OF SALE

OF INTEREST IN SUCEAVA CONCESSION, ROMANIA

Further to the announcement released on 31 May 2012, Regal, the AIM-listed oil and gas exploration and production group (symbol: RPT), announces that it has completed the sale of its wholly-owned Romanian subsidiary, Regal Petroleum Romania SRL, which holds a 50% non-operated interest in the Suceava concession in Romania, to Zeta Petroleum Plc ("Zeta").

The consideration payable under the sale agreement was US$650,000, subject to certain adjustments principally relating to the apportionment between Regal and Zeta of joint venture balances relating to the Suceava concession.  Following these adjustments, the net amount payable to Regal on completion was approximately US$915,000, which was received today. 

For further information, please contact:

Regal Petroleum plc                        Tel: [phone]

Keith Henry, Chairman

Strand Hanson Limited                    Tel: [phone]

Simon Raggett / Rory Murphy

Citigate Dewe Rogerson                 Tel: [phone]

Martin Jackson / Kate Lehane

 

END

 

 

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