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East Ras Budran Concession, Egypt

27 Jan 2011 07:00

RNS Number : 1552A
Regal Petroleum PLC
27 January 2011
 



 

Regal Petroleum plc

("Regal" or the "Company")

 

27 January 2011

 

 

SALE OF INTEREST IN EAST RAS BUDRAN CONCESSION, EGYPT

 

Regal, the AIM-listed oil and gas exploration and production group (symbol: RPT), announces that it has entered into a conditional sale and purchase agreement with Apache East Ras Budran Corporation LDC ("Apache") in respect of its 25% non-operated interest in the East Ras Budran Concession (the "Concession") in Egypt.

 

Apache is currently Regal's partner in the Concession, holding the remaining 75% interest and acting as operator of the Concession.

 

The consideration payable under the sale agreement is US$1,100,000, subject to accounting adjustments under the current joint venture between Regal and Apache, which will result in net receipts to Regal of US$649,402 at closing of the sale. The sale agreement is subject to Egyptian Government approval of the transaction, which is expected to take some weeks to obtain. Closing of the sale will take place immediately after Egyptian Governmental approval is granted.

 

 

For further information, please contact:

 

Regal Petroleum plc Tel: 020 7408 9500

Keith Henry, Chairman

Robert Wilde, Finance Director

 

Strand Hanson Limited Tel: 020 7409 3494

Simon Raggett / Rory Murphy

 

Citigate Dewe Rogerson Tel: 020 7638 9571

Martin Jackson / George Cazenove

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGRDKADPOBKDODB
Date   Source Headline
17th Feb 20116:10 pmBUSForm 8.3 - Regal Petroleum
16th Feb 201111:37 amRNSHolding(s) in Company
16th Feb 20118:24 amBUSForm 8.3 - Regal Petroleum
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24th Jan 201112:04 pmRNSHolding(s) in Company
24th Jan 20118:52 amBUSForm 8.3 - Regal Petroleum 3
21st Jan 20111:16 pmBUSForm 8.3 - Regal Petroleum 2
21st Jan 20117:00 amRNSHolding(s) in Company
19th Jan 201110:07 amRNSHolding(s) in Company
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17th Jan 20115:40 pmBUSForm 8.3 - Regal Petroleum
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17th Jan 201112:03 pmRNSHolding(s) in Company
17th Jan 201111:39 amRNSHolding(s) in Company
17th Jan 201111:37 amRNSHolding(s) in Company
14th Jan 20113:34 pmBUSForm 8.3 - Regal Petroleum (RPT LN)
14th Jan 201112:13 pmBUSForm 8.3 - REGAL PETROLEUM PLC
13th Jan 20114:22 pmBUSForm 8.3 - Regal Petroleum PLC
13th Jan 20111:44 pmBUSForm 8.3 - REGAL PETROLEUM PLC
13th Jan 201110:55 amRNSHolding(s) in Company
13th Jan 20117:00 amBUSForm 8.3 - Regal Petroleum
12th Jan 20111:15 pmRNSHolding(s) in Company
12th Jan 201112:33 pmBUSForm 8.3 - REGAL PETROLEUM PLC
12th Jan 201112:20 pmBUSForm 8.3 - Regal Petroleum
11th Jan 20115:20 pmBUSForm 8.3 - Regal Petroleum
11th Jan 201112:22 pmBUSForm 8.3 - REGAL PETROLEUM PLC
7th Jan 20114:42 pmRNSHolding(s) in Company
6th Jan 20113:04 pmBUSForm 8.3 - Regal Petroleum PLC
31st Dec 201012:32 pmBUSForm 8.3 - Regal Petroleum
24th Dec 20101:00 pmPRNForm 8.3 - Regal Petroleum Plc
23rd Dec 20105:40 pmBUSForm 8.3 - Regal Petroleum

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