1 Jul 2014 14:53
1 July 2014
Regal Petroleum plc
("Regal" or the "Company")
Ukraine Update
Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, is pleased to announce an update of operational activities at its 100% owned and operated Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in Ukraine.
The Company's activities in Ukraine have been generally unaffected by the geopolitical upheaval that has been taking place in Ukraine during recent months, and the Company has been able to produce and operate normally at the MEX-GOL and SV fields.
Average gas, condensate and LPG production from such Ukrainian fields for the period from 1 April 2014 to 30 June 2014 averaged 154,658 m3/d of gas, 53 m3/d of condensate and 20 m3/d of LPG (1,387 boepd in aggregate).
Workover operations at the SV-61 well, designed to eliminate water ingress into the well, were undertaken in the last quarter but after equipment failure, the operations were suspended and will be completed in the second half of 2014.
Preparations are continuing for the commencement of the drilling of the MEX-109 well and the hydraulic fracturing of the MEX-120 and MEX-105 wells in the second half of 2014. In addition, further geophysical studies, aimed at improving the understanding of the sub-surface within the MEX-GOL and SV licences, are continuing.
For further information, please contact:
Regal Petroleum plc | Tel: 020 3427 3550 |
Keith Henry, Chairman Sergei Glazunov, Director | |
Strand Hanson Limited | Tel: 020 7409 3494 |
Rory Murphy / Richard Tulloch |
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Citigate Dewe Rogerson | Tel: 020 7638 9571 |
Martin Jackson / Shabnam Bashir |
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Joe Staffurth, BSc Geology, PESGB, AAPG, consultant to 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.
Definitions
boepd barrels of oil equivalent per day
LPG liquefied petroleum gas
m3 cubic metre
m3/d cubic metres per day