Regal Petroleum PLC
13 December 2007
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Immediate Release 13 December 2007
REGAL PETROLEUM PLC
('Regal' or 'the Company')
Well Testing on
Gas Discovery and Well Spud in Romania
The Company is pleased to announce that initial flow testing of its first
exploration well, RBN-4, in the Barlad Concession in Romania, where the Company
holds a 100% working interest, has resulted in a maximum flow rate of dry gas at
a rate of 3.74 MMscf/d on a 12mm choke with a flowing tubing head pressure of 49
bar over a 24 hour flow period.
A 4.6 metre interval, between 756.7 metres and 761.3 metres, was perforated and
tested and there was minimal water production in the test. This interval is the
first of two intervals to be tested on this well and operations are continuing
in preparation for the flow testing of a second interval with a planned
perforated interval of 12.7 metres between 543.3 metres and 556.0 metres.
Further results will be provided once this testing has been completed in due
course.
The RBN-4 well was completed to a total depth of 973 metres TVD into the
Sarmatian formation. The well was logged and the presence of gas was detected
within zones in the Sarmatian formation.
In addition the Company has spudded its second planned exploration well, RBN-3,
on the Barlad Concession. This well is located approximately 5 kilometres to the
northwest of the RBN-4 well and is also intended to evaluate a Sarmatian
formation gas prospect. The well is estimated to take approximately 20 days to
drill at a cost of approximately US$1.1 million.
David J Greer, Regal's Chairman and Chief Executive Officer, commented: 'This
initial test of the first zone of the RBN-4 well is very encouraging and the
flow rates achieved are in excess of those expected. This is an area where it is
relatively inexpensive to drill wells and connect them up to existing
infrastructure for gas sales. The two locations chosen for the RBN-3 and RBN-4
wells were only two prospects identified from several possible leads. Regal will
now use the results from this well to better understand the potential for other
prospects and leads in the Concession. We look forward to the test results on
the second zone of the RBN-4 well and the successful drilling of the RBN-3
well.'
For further information, please contact:
Regal Tel: 020 7408 9500
David J Greer, Chairman & Chief Executive Officer
Evolution Securities Tel: 020 7071 4300
Robert Collins
Mirabaud Securities Tel: 020 7321 2508
Pav Sanghera
Definitions:
bar one atmosphere pressure
mm millimetres
MMscf/d million standard cubic feet per day
TVD true vertical depth
In accordance with the guidelines of the AIM market of the London Stock
Exchange, Roland Barbullushi, PhD Geological Sciences, AAPG, SPE, PESGB,
Consultant to 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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