Share Purchase and Options

Regal Petroleum PLC
31 October 2005


For Immediate Release                                    Monday 31 October 2005

                              REGAL PETROLEUM PLC
                                ('the Company')

                    Purchase of Shares and Grant of Options

Today, 31 October 2005, Dr Rex Gaisford CBE, the Company's Chief Executive
Officer, has purchased 50,000 Ordinary Shares of 5 pence each in the capital of
the Company ('Ordinary Shares') at £1.06 each and his wife has similarly
purchased 10,000 Ordinary Shares at £1.06 each. These purchases represent new
holdings in the Company.

Following the appointment of Dr Gaisford on 9 June 2005 and the newly
constituted Board on 15 June 2005, the Company's remuneration committee met and
made recommendations to the Board. On 31 October 2005, after publication of its
interim financial statements, the Company ratified these recommendations and the
grant of options over Ordinary Shares pursuant to the Regal Petroleum Share
Option Scheme to the following Directors:

                               Number of         Exercise                 Date
                                   Share            Price           from which
                                 Options                £          exercisable
----------------               ---------        ---------          -----------
Dr Rex Gaisford                1,000,000            £0.60             14.06.06
Mr Roger Phillips                500,000            £0.60             14.12.05
Sir Peter Heap                   250,000            £0.60             14.06.06
Mr Richard Hardman               200,000            £0.60             14.06.06

Dr Rex Gaisford                  250,000            £2.00             14.06.06
Mr Roger Phillips (*)            250,000            £2.00             14.06.06
Mr Richard Hardman               200,000            £2.00             14.06.06

Dr Rex Gaisford                  250,000            £3.00             14.06.06
Mr Richard Hardman               200,000            £3.00             14.06.06

Dr Rex Gaisford                  250,000            £4.00             14.06.06
Mr Richard Hardman               150,000            £4.00             14.06.06

Dr Rex Gaisford                  250,000            £5.00             14.06.06


(*) These noted share options above have been issued to replace previously held
options which have been relinquished.

The above options represent all options held by the above named Directors.


For further information, please contact:

Regal                                                        Tel: [phone]
Roger Phillips, Group Finance Director

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



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