MEX-109 Well Initial Testing Results

RNS Number : 8919F

Regal Petroleum PLC

23 May 2017

 

23 May 2017

Regal Petroleum plc

("Regal" or the "Company")

MEX-109 Well Initial Testing Results

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, announces the initial testing results of the MEX-109 well located at its Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in Ukraine.

The MEX-109 well was spudded in July 2016 and drilled to a depth of 4,873 metres. The well had an original target depth of 5,250 metres but, due to some mechanical issues, further drilling activities were curtailed once the primary reservoir targets were accessible.

One interval, at a drilled depth of 4,802 - 4,808 metres, within the B-20 Visean reservoirs ("B-sands") was perforated, and short-term initial flow testing was undertaken using a test separator through a 7 mm choke.  During this initial testing, the well produced at a rate of approximately 85,000 m³/d of gas and 40 m³/d of condensate (778 boepd in aggregate).

It is now intended to hook up the well to the gas processing facility and thereafter undertake production testing.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Regal Petroleum plc	Tel: [phone]
Keith Henry, Chairman Sergei Glazunov, Financial Director
Strand Hanson Limited	Tel: [phone]
Rory Murphy / Richard Tulloch
Citigate Dewe Rogerson	Tel: [phone]
Martin Jackson / Louise Mason / Shabnam Bashir

Philip Frank, PhD Geology, Chartered Geologist, FGS, PESGB, consultant to the Company, has reviewed and approved the technical information contained within this press release in his capacity as a qualified person, as required under the AIM Rules.

Definitions
boepd	barrels of oil equivalent per day
m3/d	cubic metres per day
mm	millimetre

 

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