RPT.L Regulatory News (RPT)

23 Nov 2007 13:12

Regal Petroleum PLC23 November 2007 Immediate Release 23 November 2007 REGAL PETROLEUM PLC ("Regal" or "the Company") Egypt Well Plugging and Abandonment The Company announces that an unsuccessful well test has been conducted in theERB-B-1X well operated by Apache East Ras Budran Corp. LDC ("Apache") in theEast Ras Budran ("ERB") Concession in which Regal holds a 25% working interest. The well was spudded on 7 October 2007 and drilled to a total depth of 5,146feet in basement, several zones in the well had oil shows and the well wassubsequently tested without a productive flow of oil being achieved. The well isnow being plugged and abandoned. The ERB-B-1X well is the second of two commitment wells in the initialexploration period of the ERB Concession. An additional exploration well,ERB-B-2X, is now under consideration to be drilled in late 2007 if a suitabledrilling rig can be mobilised to the area. For further information, please contact: Regal Tel: 020 7408 9500 David Greer, Chairman & CEO Evolution Securities Tel: 020 7071 4300Robert Collins Mirabaud Securities Tel: 020 7321 2508Pav Sanghera In accordance with the guidelines of the AIM market of the London StockExchange, Neil Ritson BSc (Hons) Geophysics, FGS, is the qualified person thathas reviewed the technical information contained in this press release. This information is provided by RNS The company news service from the London Stock Exchange