Regal Petroleum PLC
01 April 2008
1 April 2008
REGAL PETROLEUM PLC
('Regal' or the 'Company')
Egypt Update
Regal (AIM: RPT), the independent oil & gas exploration and production company,
announces that an unsuccessful well test has been conducted in the ERB-B-2X well
operated by Apache East Ras Budran Corp. LDC ('Apache') in the East Ras Budran
Concession in Egypt, in which Regal holds a 25% working interest.
The well was spudded on 9 February 2008 and drilled to a total depth of 5556
feet into basement. An interval in the well between 5100 and 5375 feet was
tested based upon encouraging oil shows and electric wireline logs but no
hydrocarbons were found. The well is now being plugged and abandoned.
The Company also announces that the planned production tie-in of the ERB-A
discovery announced on 24 September 2007, is in progress with design approvals
being sought and engineering and construction work planned in April 2008 and
commencement of oil production anticipated in May 2008.
For further information, please contact:
Regal Tel: 020 7408 9500
David J Greer, Chairman & CEO
Strand Partners Tel: 020 7409 3494
Simon Raggett / Rory Murphy
Mirabaud Securities Tel: 020 7878 3362
Peter Krens
Citigate Dewe Rogerson Tel: 020 7638 9571
Media enquiries: Martin Jackson
Analyst enquiries: Scott Fulton
In accordance with the guidelines of the AIM market of the London Stock
Exchange, Antonio Mozetic, PhD Geological Sciences, SPE, Director of Regal
Petroleum plc, is the qualified person that has reviewed the technical
information contained in this press release.
This information is provided by RNS
The company news service from the London Stock Exchange
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