Ukraine Update

Regal Petroleum PLC
08 October 2007




Immediate Release                                                8 October 2007

                              REGAL PETROLEUM PLC
                           ('Regal' or 'the Company')

                      Ukrainian Field Development Underway

Regal is pleased to announce that the drilling of well MEX-103 has commenced
within its Mekhediviska-Golotvschinska and Svyrydivske ('MEX-GOL and SV')
production licences (working interest 100%) in Ukraine.

This well is the first new well on the MEX-GOL field since 2004 when Regal
drilled well MEX-102. The drilling is being conducted by
Chernihivnaftagasgeologia ('CNGG') under a contract signed in July 2007 and the
well, which has a total targeted depth of 5,200 metres, is anticipated to be
completed in mid-2008.

This well is the first stage in the full-field development programme for the
MEX-GOL and SV fields which contain audited proven and probable reserves
estimated at 169 mmboe (RyderScott, 2005).  It is anticipated that further
drilling will take place in 2008.  Currently Regal is preparing sites and
applying for permits for the drilling of five further wells - MEX-106, GOL-108,
SV-53, SV-56 and SV-58 - which are planned for drilling once additional rigs
become available.

The Company presently produces from five wells (MEX-102, MEX-3, GOL-1, GOL-2 and
SV-10) which are produced through the Company's existing gas processing and
export facilities.  In September 2007, average production was 5.51 mmcf of gas
per day and 294 barrels of condensate per day (total equivalent of 1,275 boepd).

On 14 September 2007, the Company announced the signing of an exclusive
Memorandum of Understanding ('MOU') with MND Exploration and Production Limited
('MND'), under the terms of which, MND's holding company KKCG Oil and Gas BV, is
proposing to invest a total of US$330,000,000 in the development of the MEX-GOL
and SV fields in return for a 50% working interest in the Ukrainian production
assets.  Due diligence and the preparation of transaction documentation is
continuing and the completion of any transaction remains conditional thereon.

Regal's Chief Executive Officer, Neil Ritson, commented: 'We are extremely
pleased to be returning to operational drilling on our Ukrainian fields with the
first well in the full development programme for this major asset.  Over the
next year we plan to mobilise additional drilling rigs and to move into a
sustained period of development drilling.'


For further information, please contact:

Regal                                                Tel: [phone]
Neil Ritson, Chief Executive Officer
Frank Scolaro, Chairman

Evolution Securities                                 Tel: [phone]
Robert Collins

Mirabaud Securities                                  Tel: [phone]
Pav Sanghera

Buchanan Communications                              Tel: [phone]
Bobby Morse
Ben Willey

Definitions:

boepd      barrels of oil equivalent per day
mmboe      million barrels of oil equivalent
mmcf       million cubic feet


In accordance with the guidelines of the AIM market of the London Stock
Exchange, Neil Ritson BSc (Hons) Geophysics,  FGS, Chief Executive Officer 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