Regal Petroleum PLC Ukraine Update (2274K)

TIDMRPT

RNS Number : 2274K

Regal Petroleum PLC

05 July 2017

5 July 2017

Regal Petroleum plc

("Regal" or the "Company")

Ukraine Update

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, announces an update of its operational activities at its Ukrainian gas and condensate fields, which comprise the Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) fields and the Vasyschevskoye (VAS) field, all of which are 100% owned and operated.

Average gas, condensate and LPG production from the MEX-GOL and SV fields for the period from 1 January 2017 to 30 June 2017 was 133,951 m(3) /d of gas, 35.7 m(3) /d of condensate and 18.9 m(3) /d of LPG (1,140 boepd in aggregate).

Average gas and condensate production from the VAS field for period from 1 January 2017 to 30 June 2017 was 86,809 m(3) /d of gas and 6.6 m(3) /d of condensate (612 boepd in aggregate).

The MEX-109 well, located on the MEX-GOL field, was recently hooked-up to the gas processing facility and has been undergoing flow testing to optimise the operating parameters of the well. This flow testing has now been completed, with the production rate from the well having stabilised. The well will now be monitored over a longer period of production testing. The well is currently contributing approximately 100,000 m(3) /d of gas, 30 m(3) /d of condensate and 15 m(3) /d of LPG (875 boepd in aggregate).

Since 1 July 2017, with the inclusion of the production from the MEX-109 well, average production from the MEX-GOL and SV fields has increased to 225,989 m(3) /d of gas, 62.9 m(3) /d of condensate and 32.7 m(3) /d of LPG (1,943 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 
 LPG     liquefied petroleum 
          gas 
 m(3)    cubic metres per day 
  /d 
 %       per cent 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSSIFDIFWSEIW

(END) Dow Jones Newswires

July 05, 2017 09:57 ET (13:57 GMT)