Regal Petroleum PLC MEX-109 Well Initial Testing Results (8919F)

TIDMRPT

RNS Number : 8919F

Regal Petroleum PLC

23 May 2017

23 May 2017

Regal Petroleum plc

("Regal" or the "Company")

MEX-109 Well Initial Testing Results

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, announces the initial testing results of the MEX-109 well located at its Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in Ukraine.

The MEX-109 well was spudded in July 2016 and drilled to a depth of 4,873 metres. The well had an original target depth of 5,250 metres but, due to some mechanical issues, further drilling activities were curtailed once the primary reservoir targets were accessible.

One interval, at a drilled depth of 4,802 - 4,808 metres, within the B-20 Visean reservoirs ("B-sands") was perforated, and short-term initial flow testing was undertaken using a test separator through a 7 mm choke. During this initial testing, the well produced at a rate of approximately 85,000 m(3) /d of gas and 40 m(3) /d of condensate (778 boepd in aggregate).

It is now intended to hook up the well to the gas processing facility and thereafter undertake production testing.

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 
 mm      millimetre 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 23, 2017 02:00 ET (06:00 GMT)