Spud of SV-54 Well

RNS Number : 1328Q

Regal Petroleum PLC

17 October 2019

 

17 October 2019

REGAL PETROLEUM PLC

Spud of SV-54 Well

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, is pleased to announce the spudding yesterday of the SV-54 well at its 100% owned and operated Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in Ukraine.

The well has a target depth of 5,320 metres, with drilling operations scheduled to be completed by the end of the second quarter of 2020, and, subject to successful testing, production hook-up during the third quarter of 2020.  The well is a development well, with its primary targets being the B-22 and B-23 horizons in the Visean formation.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Regal Petroleum plc	Tel: [phone]
Chris Hopkinson, Chairman
Sergii Glazunov, Chief Executive Officer
Bruce Burrows, Finance Director
Strand Hanson Limited	Tel: [phone]
Rory Murphy / Richard Tulloch
Arden Partners plc	Tel: [phone]
Ruari McGirr / Dan Gee-Summons (Corporate Finance)
Simon Johnson (Corporate Broking)
Citigate Dewe Rogerson	Tel: [phone]
Louise Mason-Rutherford / Nick Hayns / Elizabeth Kittle

Dmitry Sazonenko, MSc Geology, MSc Petroleum Engineering, Member of AAPG, SPE and EAGE, Director of the Company, 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.

 

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