Regal provides Ukraine update

Regal Petroleum plc, the independent oil & gas exploration and production company with interests in the Ukraine, Romania and Egypt, provides an update of its Ukrainian operations as follows:-

• Regal is currently finalising a Letter of Intent with Saipem S.p.A, the international drilling contractor, under which the parties have outlined terms for the provision of 2 land rigs and 1 workover rig for use at Regal’s gas and condensate fields, Mekhediviska-Golotvschinska and Svyrydivske (working interest 100%), in Ukraine;

• Regal has entered into 2 Letters of Intent with Region Ltd, a Ukrainian based drilling contractor, under which the parties have outlined terms for the provision of 1 land rig and 1 workover rig respectively for use at Regal’s MEX-GOL and SV fields;