Company Update

RNS Number : 5977Q

Regal Petroleum PLC

15 April 2009

 



Regal Petroleum plc

('Regal' or the 'Company')

15 April 2009

COMPANY UPDATE

Regal Petroleum, the AIM-listed (RPT) oil and gas exploration and production group operating in Ukraine, Romania and Egypt, today announces that it has suspended discussions with Macquarie Bank Limited in relation to the prospective provision of a loan facility for up to $US100 million.  

Regal's primary objective remains to further strengthen its financial position on optimal terms and provide the funds to implement the Company's development strategy, which the Company believes will deliver significant value to shareholders.

Negotiations with other potential lenders and commercial / joint venture partners continue, and further announcements will be made as appropriate.

For further information, please contact:

Regal Petroleum plc                    Tel: [phone]  

David J Greer, CEO

Strand Partners Limited             Tel: [phone] 

Simon Raggett / Rory Murphy

Mirabaud Securities                    Tel: [phone]

Peter Krens / Pav Sanghera

Citigate Dewe Rogerson            Tel: [phone]

Enquiries: George Cazenove

 

END

 

 

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