Egypt Update

RNS Number : 2700W

Regal Petroleum PLC

09 June 2008

 



9 June 2008

REGAL PETROLEUM PLC

('Regal' or the 'Company')

Egypt Update

First production of ERB-A-1X

Regal (AIM: RPT), the independent oil & gas exploration and production company, announces first oil from the ERB-A-1X well. Regal holds a 25% working interest in the East Ras Budran Concession in Egypt which is operated by Apache East Ras Budran Corp. LDC ('Apache').

The Company announced the discovery of oil in the ERB-A-1X exploration well and plans for a production tie-in on 24th September 2007. The well has now been successfully tied into the nearby Suez Oil Company (SUCO) production facility and brought on stream on 7th June 2008 with a recorded initial production rate of ca.1100 bbl/day.

A further announcement will be made once production rates have stabilised.

Regal's Chief Executive Officer, David J Greer, commented: 

'We are delighted to announce the commencement of oil production in Egypt and are grateful for all of the efforts of our partners who have worked together to achieve this significant milestone safely and according to plan. Egypt now joins Ukraine as a focused production play for Regal Petroleum and complements our ongoing exploration and appraisal efforts in Romania.'

For further information, please contact:

Regal	Tel: [phone]
David J Greer, CEO
Strand Partners	Tel: [phone]
Simon Raggett / Rory Murphy
Merrill Lynch International	Tel: [phone]
Andrew Osborne
Mirabaud Securities	Tel: [phone]
Peter Krens / Pav Sanghera
Citigate Dewe Rogerson	Tel: [phone]
Kate Lehane

In accordance with the guidelines of the AIM market of the London Stock Exchange, Antonio Mozetic, PhD Geological Sciences, SPE, Director of Regal Petroleum plc, is the qualified person that has reviewed the technical information contained in this press release.

 

END

 

 

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