RPT.L Regulatory News (RPT)

31 Jan 2006 11:20

Regal Petroleum PLC31 January 2006 Immediate Release 31 January 2006 REGAL PETROLEUM PLC ("Regal" or "the Company") Ukrainian Update Further to the announcement dated 11 November 2005 regarding the legal challengebrought by Chernihivnaftogasgeologia ("CNGG") against the Ministry ofEnvironmental Protection ("MEP") with respect to the validity of Regal'sproduction licences in the Ukraine, Regal has appealed such ruling to the KievCourt of Appeal but such appeal has been unsuccessful. CNGG brought the legal action against its own parent organisation, the MEP,claiming that the correct procedures were not followed in the awarding of twoproduction licences to Regal in July 2004. On 11 November 2005, at the initial hearing of such action, the Kiev CityCommercial Court upheld CNGG's claim. Regal lodged an appeal to the Kiev Court of Appeal contesting the earlierruling. The result of this appeal was delivered earlier today when the Courtdismissed Regal's appeal. Regal is awaiting written details of such decision but has already launched afurther appeal to the Supreme Administrative Court of Ukraine to establish thelegality of its licences. The Company continues to be advised by its legalcounsel in Ukraine that the Company was awarded its licences in accordance withapplicable rules, standards and legislation of Ukraine. For further information, please contact: Regal Tel: 020 7408 9500Roger Phillips, Finance Director Buchanan Communications Tel: 020 7466 5000Bobby Morse This information is provided by RNS The company news service from the London Stock Exchange