RPT.L Regulatory News (RPT)

13 Dec 2007 07:01

Regal Petroleum PLC13 December 2007 -------------------------------------------------------------------------------- Immediate Release 13 December 2007 REGAL PETROLEUM PLC ("Regal" or "the Company") Well Testing on Gas Discovery and Well Spud in Romania The Company is pleased to announce that initial flow testing of its firstexploration well, RBN-4, in the Barlad Concession in Romania, where the Companyholds a 100% working interest, has resulted in a maximum flow rate of dry gas ata rate of 3.74 MMscf/d on a 12mm choke with a flowing tubing head pressure of 49bar over a 24 hour flow period. A 4.6 metre interval, between 756.7 metres and 761.3 metres, was perforated andtested and there was minimal water production in the test. This interval is thefirst of two intervals to be tested on this well and operations are continuingin preparation for the flow testing of a second interval with a plannedperforated interval of 12.7 metres between 543.3 metres and 556.0 metres.Further results will be provided once this testing has been completed in duecourse. The RBN-4 well was completed to a total depth of 973 metres TVD into theSarmatian formation. The well was logged and the presence of gas was detectedwithin zones in the Sarmatian formation. In addition the Company has spudded its second planned exploration well, RBN-3,on the Barlad Concession. This well is located approximately 5 kilometres to thenorthwest of the RBN-4 well and is also intended to evaluate a Sarmatianformation gas prospect. The well is estimated to take approximately 20 days todrill at a cost of approximately US$1.1 million. David J Greer, Regal's Chairman and Chief Executive Officer, commented: "Thisinitial test of the first zone of the RBN-4 well is very encouraging and theflow rates achieved are in excess of those expected. This is an area where it isrelatively inexpensive to drill wells and connect them up to existinginfrastructure for gas sales. The two locations chosen for the RBN-3 and RBN-4wells were only two prospects identified from several possible leads. Regal willnow use the results from this well to better understand the potential for otherprospects and leads in the Concession. We look forward to the test results onthe second zone of the RBN-4 well and the successful drilling of the RBN-3well." For further information, please contact: Regal Tel: 020 7408 9500 David J Greer, Chairman & Chief Executive Officer Evolution Securities Tel: 020 7071 4300Robert Collins Mirabaud Securities Tel: 020 7321 2508Pav Sanghera Definitions: bar one atmosphere pressure mm millimetres MMscf/d million standard cubic feet per day TVD true vertical depth In accordance with the guidelines of the AIM market of the London StockExchange, Roland Barbullushi, PhD Geological Sciences, AAPG, SPE, PESGB,Consultant to Regal Petroleum plc, is the qualified person that has reviewed thetechnical information contained in this press release. This information is provided by RNS The company news service from the London Stock Exchange