RPT.L Regulatory News (RPT)

1 Apr 2008 13:51

Regal Petroleum PLC01 April 2008 1 April 2008 REGAL PETROLEUM PLC ("Regal" or the "Company") Egypt Update Regal (AIM: RPT), the independent oil & gas exploration and production company,announces that an unsuccessful well test has been conducted in the ERB-B-2X welloperated by Apache East Ras Budran Corp. LDC ("Apache") in the East Ras BudranConcession in Egypt, in which Regal holds a 25% working interest. The well was spudded on 9 February 2008 and drilled to a total depth of 5556feet into basement. An interval in the well between 5100 and 5375 feet wastested based upon encouraging oil shows and electric wireline logs but nohydrocarbons were found. The well is now being plugged and abandoned. The Company also announces that the planned production tie-in of the ERB-Adiscovery announced on 24 September 2007, is in progress with design approvalsbeing sought and engineering and construction work planned in April 2008 andcommencement of oil production anticipated in May 2008. For further information, please contact: Regal Tel: 020 7408 9500 David J Greer, Chairman & CEO Strand Partners Tel: 020 7409 3494Simon Raggett / Rory Murphy Mirabaud Securities Tel: 020 7878 3362Peter Krens Citigate Dewe Rogerson Tel: 020 7638 9571Media enquiries: Martin Jackson Analyst enquiries: Scott Fulton In accordance with the guidelines of the AIM market of the London StockExchange, Antonio Mozetic, PhD Geological Sciences, SPE, Director of RegalPetroleum plc, is the qualified person that has reviewed the technicalinformation contained in this press release. This information is provided by RNS The company news service from the London Stock Exchange