Potential Asset Transaction

Regal Petroleum PLC
22 April 2008


                              REGAL PETROLEUM PLC
                           ('Regal' or the 'Company')

                          Potential Asset Transaction

In response to recent press speculation Regal announces that it has received
preliminary approaches regarding possible transactions in relation to the
Company's Ukrainian assets. It must be stressed that talks are at an early stage
and that these approaches may or may not lead to the conclusion of a
transaction. A further announcement will be made in due course.

For further information, please contact:

Regal                                   Tel: [phone]
David J Greer, CEO

Strand Partners                         Tel: [phone]
Simon Raggett / Rory Murphy

Mirabaud Securities                     Tel: [phone]
Peter Krens / Pav Sanghera

Citigate Dewe Rogerson                  Tel: [phone]
Media enquiries: Martin Jackson
Analyst enquiries: Scott Fulton




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