Business
Romanian update
Romanian update.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n Regal Petroleum PLC\n01 September 2006\n\n\n\nImmediate Release 1 September 2006\n\n\n\n REGAL PETROLEUM PLC\n ('Regal' or 'the Company')\n\n\n Joint Venture on the Suceava Concession, Romania\n with Aurelian Oil & Gas plc\n\n\n\nRegal is pleased to announce that Regal and Aurelian Oil & Gas plc ('Aurelian')\nhave today entered into a joint venture in respect of Regal's Suceava Concession\n('Suceava Concession') in the North East of Romania.\n\n\nRegal currently holds a 100% interest in the Suceava Concession and Aurelian has\nagreed a farm-in for a 50% interest in the Concession upon Aurelian acquiring a\nminimum of 150km of new 2D seismic and drilling one exploration well. Aurelian\nwill be the operator in the conduct of these works and, subject to completion of\nsuch works and necessary consents, will be the operator of the concession for\nthe future. It is planned to undertake the 2D seismic acquisition in the fourth\nquarter of 2006 with the exploration well planned in 2007.\n\n\nThe Suceava Concession is a large exploration, development and production block\nin the North East of Romania with an area of 4,103 square kilometres. The\nConcession is located on the Moldavan Platform which contains a number of\ncommercial gas fields.\n\n\nAurelian recently listed on AIM and is already active in Romania where it is the\noperator of the Brodina Concession which is adjacent to the Suceava Concession.\nAurelian is currently progressing the Bilca gas development project on the\nBrodina Concession which will shortly commence gas production.\n\n\nRegal continues its exploration of the Barlad concession (to the south of the\nSuceava Concession) where a 2D seismic acquisition programme has now been\ncompleted and seismic processing is underway. Regal owns a 100% interest in the\nBarlad Concession.\n\n\nFor further information, please contact:\n\nRegal Tel: 020 7408 9500\nRoger Phillips, Finance Director\nFrank Scolaro, Non-executive Director\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2321,"tagName":"div"}]