RPT.L Regulatory News (RPT)

21 Aug 2006 07:01

Regal Petroleum PLC21 August 2006 --------------------------------------------------------------------------------Immediate Release 21 August 2006 REGAL PETROLEUM PLC ("Regal" or "the Company") Ukrainian Update The Company advises that in relation to the legal action brought byChernihivnaftogasgeologia ("CNGG") against the Ministry of EnvironmentalProtection ("MEP") challenging the validity of Regal's production licences inthe Ukraine, Regal has obtained an order that this action be submitted to theKiev Commercial Court for consideration of new circumstances. 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 10 November 2005, at the initial hearing of such action, the Kiev CityCommercial Court upheld CNGG's claim. On 31 January 2006, at the appeal hearing of such action, the Kiev Court ofAppeal again upheld CNGG's claim. On 5 May 2006, at the further appeal hearing of such action, the SupremeAdministrative Court of Ukraine again upheld CNGG's claim. Following an application by Regal, the Kiev Commercial Court has made an orderthat this action be submitted to the Kiev Commercial Court for reconsiderationof the earlier orders made in this action on the basis of new circumstances. Inaddition this Court has ordered that the earlier orders made in this action bestayed pending the hearing of the action in the Kiev Commercial Court. The hearing of the action in the Kiev Commercial Court has been listed for 19September 2006. For further information, please contact: Regal Tel: 020 7408 9500 Roger Phillips, Finance DirectorFrank Scolaro, Director This information is provided by RNS The company news service from the London Stock Exchange