Business
Share Options & Subscriptions
Share Options & Subscriptions.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n Regal Petroleum PLC\n06 February 2008\n\n\nFor Immediate Release 6 February 2008\n\n\n REGAL PETROLEUM PLC\n (the 'Company')\n\n Grant of Options, Subscription for Shares\n and Exercise of Options\n\nThe Company announces that on 5 February 2008 it granted options over ordinary\nshares of 5 pence each in the capital of the Company ('Ordinary Shares')\npursuant to the Regal Petroleum Share Option Scheme to the following Directors:-\n\n Number of Share Options Exercise Price Date/condition from which exercisable\n\nDavid J Greer (i) 1,000,000 (i) £1.50 (i) on the achievement of the\n First Milestones set out below\n (ii) 1,000,000 (ii) £1.50 (ii) on the achievement of the\n (iii) 500,000 (iii) £2.50 Second Milestones set out below\n (iii) upon the Company's Ordinary\n Shares trading above £2.50 for 20\n consecutive trading days\n\nHendrikus Verkuil (i) 1,000,000 (i) £1.50 (i) on the achievement of the\n First Milestones set out below\n (ii) 1,000,000 (ii) £2.00 (ii) on the achievement of the\n (iii) 500,000 (iii) £2.50 Second Milestones set out below\n (iii) upon the Company's Ordinary\n Shares trading above £2.50 for 20\n consecutive trading days\n\nAntonio Mozetic 350,000 £1.50 4 February 2009\n\nFrancesco Scolaro 250,000 £1.50 4 February 2009\n\nAnthony St John 250,000 £1.50 4 February 2009\n\n\n\nFirst Milestones\n\na) Approval and permitting of 6 well locations in the Company's fields in\nUkraine;\n\nb) Establishment of a drilling base in the Company's fields in Ukraine;\n\nc) 4 rigs operational in the Company's fields in Ukraine;\n\nd) Completion of 1 well workover in the Company's fields in Ukraine;\n\ne) Drilling and completion of 2 development wells in the Company's fields\nin Ukraine;\n\nf) The publication of 3 independent research analysts reports on the\nCompany.\n\n\n\nSecond Milestones\n\n\n\na) Completion of a new reserves report by an independent reserves auditor\nshowing an increase upon the Company's current published proved and probable\nreserves of 169,410 Mboe (as at 31 December 2006);\n\nb) Drilling and completion of a further 4 production wells in the Company's\nfields in Ukraine;\n\nc) The Company's production reaching a stable rate of 3,500 boe/d;\n\nd) 6 rigs operational in the Company's fields in Ukraine.\n\n\nThe above options represent all share options held by Mr Greer, Mr Verkuil, Mr\nS...