RPT.L Regulatory News (RPT)

31 Aug 2005 13:42

Regal Petroleum PLC31 August 2005 Immediate Release 31 August 2005 Regal Petroleum plc ("Regal" or the "Company") Update on Contract Further to the Company's announcement of 29 July 2005, the Company advises thatit is continuing discussions with Peak Resources Limited of Hong Kong ("PeakResources") with a view to selling all or part of the Company's Ukraine assets.The terms of any acquisition are likely to be different to those outlined in theprevious announcement. Peak Resources has unilaterally extended its option inaccordance with its purported terms by one month to 30 September 2005, althoughthe Company continues to assert that it considers the option to be invalid andunenforceable. The Company will make an announcement on completion of thesediscussions. For further information please contact: Bobby MorseBuchanan Communications Tel: +44 (0) 207 466 5000 This information is provided by RNS The company news service from the London Stock Exchange