Romanian Operational Update

RNS Number : 2834O

Regal Petroleum PLC

25 June 2010

 



25 June 2010

Regal Petroleum plc

("Regal" or the "Company")

ROMANIAN OPERATIONAL UPDATE

Regal, the AIM-listed oil and gas exploration and production group (symbol: RPT), announces an update on its Joint Venture exploration project in Romania.  

Climauti-1 well successfully tests at 76,100 m³/d

The Climauti-1 well, drilled in the Suceava Block in Romania, has tested at a stable rate of 76,100 m³/d (475 boepd) on a 12mm choke with a flowing tubing head pressure of 30bar. This rate was achieved over a 36 hour test period with a drawdown of only 3.2 bar from Sarmatian sands at a depth of 456.5 - 463.6m, 7.1m gross, 6.3m net. It is estimated that the gross recoverable gas reserves will be 2bcf over the life of the well and work will start shortly on the installation of a 4km pipeline to the Bilca Gas Plant in the adjacent Brodina block with first gas expected in Q4 2010.

Interests in the Suceava Block are Aurelian Oil & Gas (Romania) SRL 50%, Regal Petroleum PLC 50%.

For further information, please contact:

Regal Petroleum plc                Tel: [phone] 

David J Greer, CEO

Strand Hanson Limited            Tel: [phone]

Simon Raggett / Rory Murphy

Mirabaud Securities                Tel: [phone]

Peter Krens / Pav Sanghera

Citigate Dewe Rogerson          Tel: [phone]

Martin Jackson / George Cazenove

Ronan McElroy, PhD Geology, SPE, Chief Technologist of Regal Petroleum plc, has reviewed and approved the technical information contained within this press release in his capacity as a qualified person, as required under the AIM Rules.

Definitions:

boepd                           barrels of oil equivalent per day

m³/d                             cubic metres per day

m                                 metres

bcf                                billion cubic feet

Conversion Factors (SPE):

100,000 m³ gas =  624 boe

 

END

 

 

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