RPT.L Regulatory News (RPT)

10 Oct 2007 07:01

Regal Petroleum PLC10 October 2007 Immediate Release 10 October 2007 REGAL PETROLEUM PLC ("Regal" or "the Company") Second Exploration Well in Egypt The Company is pleased to announce that Apache East Ras Budran Corp. LDC asoperator of the East Ras Budran Concession (the "Concession") in Egypt hasspudded exploration well ERB-B-1X, the second of the exploration wells plannedfor 2007. Regal owns a 25% working interest in the Concession which covers an area of 521square kilometres onshore in the Gulf of Suez. The first exploration well,ERB-A-1X, recently resulted in a commercial discovery in the Darat Limestoneformation which flowed at an average rate of approximately 1,900 bopd during a12 hour flow period. The oil quality, originally estimated at 17 degree API, hassubsequently been confirmed to be of 21 degree API and further productiontesting is planned for this well in 2008. Well ERB-B-1X, which is planned to take 35 days to complete, is targeted topenetrate prospective reservoirs in the Nubian Sandstone and is expected to bedrilled to a total depth of 8,300 feet. The ERB-B feature lies 5 kilometresnorth of the ERB-A discovery and has been identified using existing seismicdata, including the 3D survey acquired in early 2007, and is targetingreservoirs proven to be productive in the nearby offshore Ras Budran field. For further information, please contact: Regal Tel: 020 7408 9500Neil Ritson, Chief Executive OfficerFrank Scolaro, Chairman Evolution Securities Tel: 020 7071 4300Robert Collins Mirabaud Securities Tel: 020 7321 2508Pav Sanghera Buchanan Communications Tel: 020 7466 5000Bobby MorseBen Willey Definitions: bopd barrels of oil per day In accordance with the guidelines of the AIM market of the London Stock Exchange, Neil Ritson BSc (Hons) Geophysics, FGS, Chief Executive Officer of Regal Petroleum plc, is the qualified person that has reviewed the technical information contained in this press release. This information is provided by RNS The company news service from the London Stock Exchange