Regal Petroleum PLC MEX-109 Well Hook-up and Flow Testing (0702J)

TIDMRPT

RNS Number : 0702J

Regal Petroleum PLC

26 June 2017

26 June 2017

Regal Petroleum plc

("Regal" or the "Company")

MEX-109 Well Hook-up and Flow Testing

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, is pleased to announce the hook-up and flow testing of the MEX-109 well located at its Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in Ukraine.

One interval in the well, at a drilled depth of 4,802 - 4,808 metres within the B-20 Visean reservoirs ("B-sands") was perforated, and after short-term initial flow testing established gas and condensate flow, works were undertaken to hook-up the well to the gas processing facility.

The hook-up has been completed and flow testing is currently underway to optimise the operating parameters of the well. Although this testing is likely to continue for up to a further four weeks before an optimal operating regime is finalised, the well is demonstrating good flow rates during test periods of approximately 85,000 m(3) /d of gas and 40 m(3) /d of condensate (778 boepd in aggregate).

Prior to the hook-up of MEX-109, average gas, condensate and LPG production from the MEX-GOL and Svyrydivske (SV) fields for the period from 1 January 2017 to 15 June 2017 was 127,041 m(3) /d of gas, 33.6 m(3) /d of condensate and 17.7 m(3) /d of LPG (1,079 boepd in aggregate).

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
 Regal Petroleum plc             Tel: [phone] 
                                  3550 
 Keith Henry, Chairman 
  Sergei Glazunov, Financial 
  Director 
 
 Strand Hanson Limited           Tel: [phone] 
                                  3494 
 Rory Murphy / Richard Tulloch 
 
 Citigate Dewe Rogerson          Tel: [phone] 
                                  9571 
 Martin Jackson / Louise Mason 
  / Shabnam Bashir 
 

Philip Frank, PhD Geology, Chartered Geologist, FGS, PESGB, consultant to the Company, has reviewed and approved the technical information contained within this press release in his capacity as a qualified person, as required under the AIM Rules.

 
 Definitions 
 boepd   barrels of oil equivalent 
          per day 
 m(3)    cubic metres per day 
  /d 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 26, 2017 02:00 ET (06:00 GMT)