Regal Petroleum PLC
15 June 2007
For Immediate Release 15 June 2007
REGAL PETROLEUM PLC
('Regal' or 'the Company')
Egyptian Operational Update
The Company is pleased to announce that Apache East Ras Budran Corp. LDC
('Apache') as operator of the East Ras Budran Concession (the 'Concession') in
Egypt has spudded exploration well ERB-A-1X.
Regal owns a 25% working interest in the Concession which covers an area of 521
square kilometres onshore in the Gulf of Suez. The ERB-A-1X well is one of two
wells to be drilled in 2007 as part of the first phase exploration work
programme agreed with the Egyptian General Petroleum Corporation for the
Concession. Since Regal farmed out a 75% working interest and operatorship in
the Concession to Apache in October 2006, Apache has completed the acquisition
of a large aeromagnetic survey and a 3D seismic survey covering approximately
100 square kilometres of the Concession. The selection of the location for the
second exploration well, ERB-B-1X, is presently under consideration using
existing data and the results of both the 3D seismic and aeromagnetic surveys
and is expected to be drilled back-to-back with the present well.
Well ERB-A-1X, which is planned to take 80 days to complete, is targeted to
penetrate prospective reservoirs in the Thebes Limestone and will be drilled to
a target depth of 13,622 feet.
For further information, please contact:
Regal Tel: 020 7408 9500
Frank Scolaro - Non-Executive Chairman
Neil Ritson - Chief Executive Officer
Evolution Securities Tel: 020 7071 4300
Nominated Adviser and Joint Broker
Robert Collins
Mirabaud Securities Tel: 020 7321 2508
Joint Broker
Pav Sanghera
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
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