Business
Ukraine Divestment Process
Ukraine Divestment Process.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n Regal Petroleum PLC\n26 April 2007\n\n\n\nImmediate Release 26 April 2007\n\n REGAL PETROLEUM PLC\n ('Regal' or 'the Company')\n\n Ukraine Divestment Process\n\nThe Company is pleased to announce that following a detailed review by Tristone\nCapital Limited ('Tristone Capital') of strategic options for the Company's\nMekhediviska-Golotvschinska ('MEX-GOL') and Svyrydivske ('SV') gas and\ncondensate fields in Ukraine, Tristone Capital has been retained to further\nadvise on the partial divestment of an interest in these fields.\n\nThe partial divestment process, which will be managed exclusively by Tristone\nCapital, is intended to assist with the acceleration of the further development\nof the MEX-GOL and SV gas and condensate fields. It is envisaged that a\nstrategic partner will be sought to take an interest in the region of 50% in the\nproject, with the possibility that the strategic partner may participate in the\noperatorship of the fields.\n\nThe process for partial divestment will involve a targeted approach in respect\nof potential partners and this process will commence shortly.\n\nThe Company would like to stress, however, that the initiation of a partial\ndivestment process does not imply that any transaction is certain to occur or\nthat the Company is obliged to accept any offers that may be received.\n\nFor further information, please contact:\n\nRegal Tel: 020 7408 9500\n\nNeil Ritson, Chief Executive Officer\nFrank Scolaro, Chairman\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]