Corporate Activities

Regal Petroleum PLC
31 January 2005


Immediate Release                                               31 January 2005


                              REGAL PETROLEUM PLC

                           ('Regal' or 'the Company')


                              Corporate Activities


The Directors are pleased to announce the following update on recent corporate
activities by the Company:


Greece: Regal has increased its interest in Kavala Oil S.A. ('Kavala') to 95 per
cent. of the entire issued share capital.  The increase in interest was achieved
by successfully negotiating the purchase of the remaining 13.89 per cent.
minority shareholding in Eurotech Services S.A. ('Eurotech') for a total
consideration of €892,000.  Eurotech is now a 100 per cent. subsidiary of Regal.
  The remaining 5 per cent. of the issued share capital of Kavala is owned by an
Association of Kavala's employees.


It has been Regal's intention to buy out the minority shareholders in Eurotech
since the initial acquisition of the majority shareholding in Eurotech in
October 2003 ('Original Acquisition').  The purchase price paid for the minority
shareholding was equivalent to the price per share paid in the Original
Acquisition.


Romania: Regal's licence for the 6,285km2 Barlad Block has been formally
approved by the Romanian Government.


The exploration, development and production licence is for a 20 year term and
provides Regal with exclusive hydrocarbon exploration, development and
production rights over the Barlad Block area.  Under the terms of the licence
Regal is committed to 1,000km of 2D seismic and the drilling of two wells (to a
maximum depth of 1,500m) over a 3 year period with an estimated total cost of
US$4.5 million.


The Barlad Block (a south-eastern extension of Regal's 4,103km2 Suceava Block)
is located adjacent to the Roman-Secuieni gas field operated by Romgaz, the
largest commercial gas field in Romania.


It is proposed to perform seismic surveys on the Barlad Block in 2005 with
exploration drilling due to commence in 2006.


Egypt: The final assignment to Regal of the exploration concession in the East
Ras Budran Area, Gulf of Suez, Egypt has been formally approved by the Egyptian
Government.


The Egyptian concession provides Regal with exclusive exploration rights in the
East Ras Budran Area for an inital period of 3 years with the right to extend
this for a further 4 years.  In the event that a commercial oil discovery is
made in the concession area, Regal has the right (subject to certain conditions)
to convert the concession into a 20 year development and production lease. Under
the terms of the concession Regal is committed to spending a total of US$4
million during the exploration stage.


Four large prospective structures have been identified following the evaluation
of existing data.  Seismic data is currently being re-processed and interpreted
and exploration drilling is expected to commence in late 2005.


The concession area is in one of the most prolific petroleum provinces in the
world. Surrounding oil fields include Ras Budran, October, Abu Rudeis, Belayim
Onshore and Belayim Offshore, which range from 270 million barrels to over one
billion barrels of recoverable reserves.


Operational Update: an update on Regal's operations, including details on
drilling and production, will be released in February 2005.


Frank Timis, Executive Chairman, commented:


'The increase and consolidation of our shareholding in Kavala to 95 per cent. is
the final step in our strategy to increase the Company's interest in the Kavala
operations so as to realise maximum value from any future increases in reserves
and production. Furthermore, the formal government approval of our interests in
Romania and Egypt provides the Company with several other exciting exploration
plays in countries with prolific hydrocarbon basins. '


31 January 2005


For further information, please contact:

Regal                                             Tel: [phone]
Frank Timis, Executive Chairman
Roger Phillips, Finance Director

Buchanan Communications                           Tel: [phone]
Bobby Morse / Ben Willey







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