Ukraine Update

RNS Number : 2274K

Regal Petroleum PLC

05 July 2017

 

5 July 2017

Regal Petroleum plc

("Regal" or the "Company")

Ukraine Update

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, announces an update of its operational activities at its Ukrainian gas and condensate fields, which comprise the Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) fields and the Vasyschevskoye (VAS) field, all of which are 100% owned and operated.

Average gas, condensate and LPG production from the MEX-GOL and SV fields for the period from 1 January 2017 to 30 June 2017 was 133,951 m³/d of gas, 35.7 m³/d of condensate and 18.9 m³/d of LPG (1,140 boepd in aggregate).

Average gas and condensate production from the VAS field for period from 1 January 2017 to 30 June 2017 was 86,809 m³/d of gas and 6.6 m³/d of condensate (612 boepd in aggregate).

The MEX-109 well, located on the MEX-GOL field, was recently hooked-up to the gas processing facility and has been undergoing flow testing to optimise the operating parameters of the well.  This flow testing has now been completed, with the production rate from the well having stabilised.  The well will now be monitored over a longer period of production testing.  The well is currently contributing approximately 100,000 m³/d of gas, 30 m³/d of condensate and 15 m³/d of LPG (875 boepd in aggregate).

Since 1 July 2017, with the inclusion of the production from the MEX-109 well, average production from the MEX-GOL and SV fields has increased to 225,989 m³/d of gas, 62.9 m³/d of condensate and 32.7 m³/d of LPG (1,943 boepd in aggregate).

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
LPG	liquefied petroleum gas
m3/d	cubic metres per day
%	per cent

 

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