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Share Name Share Symbol Market Type Share ISIN Share Description
REGAL PETROLEUM PLC NEX:RPT.GB NEX Ordinary Share GB0031775819
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.324p +0.78% 41.824p 35.00p 45.00p 41.824p 38.29p 41.50p 26,940 08:09:51
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - -

Regal Petroleum PLC VAS Licence Order Update

19/03/2019 3:54pm

UK Regulatory (RNS & others)


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RNS Number : 3474T

Regal Petroleum PLC

19 March 2019

19 March 2019

Regal Petroleum plc

("Regal" or the "Company")

VAS Licence Order Update

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, provides an update on its announcement made on 12 March 2019 regarding the publication of an Order by the State Service of Geology and Subsoil of Ukraine (the "State Service") affecting the production licence for the Vasyschevskoye ("VAS") gas and condensate field in Ukraine.

As announced on 12 March 2019, it was noted that an Order for suspension dated 11 March 2019 (the "Order") had been published on the official website of the State Service, relating to Special Permit No. 5626, which is the production licence for the VAS field. Under the applicable legislation, the licence operator will be required to shut down production operations at the VAS field within 20 days of licence suspension.

The Company has issued legal proceedings in the Ukrainian Courts to challenge the validity of the Order, and in these proceedings, the Court has made a Ruling on interim measures to suspend the Order pending a hearing of the substantive issues of the case to be held in due course. The effect of this ruling is that the abovementioned 20 day period is also suspended pending the substantive hearing.

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: 020 3427 3550 
 Chris Hopkinson, Chairman 
  Sergii Glazunov, Chief Executive Officer 
 
 Strand Hanson Limited                       Tel: 020 7409 3494 
 Rory Murphy / Richard Tulloch 
 
 Citigate Dewe Rogerson                      Tel: 020 7638 9571 
 Nick Hayns / Elizabeth Kittle 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 19, 2019 11:54 ET (15:54 GMT)

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