Regal Petroleum PLC
18 January 2008
REGAL PETROLEUM PLC
('Regal' or 'the Company')
Second Test on
RBN-4 Well in Romania
Regal Petroleum (AIM: RPT), the independent oil & gas exploration and production
company, today announces that it has flow tested a second interval at its
exploration well, RBN-4, in the Barlad Concession, Romania (100% working
interest). The RBN-4 well was completed to a total depth of 973 metres TVD on
27 October 2007.
This second, higher, interval of 12.7 metres, between 543.3 metres and 556.0
metres, in the Sarmatian formation was perforated and tested but no hydrocarbons
were present.
Results from the previous successful testing of the lower interval were
announced on 13 December 2007. This lower 4.6 metre interval, between 756.7
metres and 761.3 metres, in the Sarmatian formation yielded a maximum dry gas
flow rate of 3.74 MMscf/d on a 12mm choke with a flowing tubing head pressure of
49 bar over a 24 hour flow period.
The RBN-4 well has now been suspended to allow re-entry of the lower producing
interval and to allow further evaluation of the results of this well.
David J Greer, Regal's Chairman and Chief Executive Officer, commented:
'Although the test results of the second interval are disappointing, we are very
encouraged by the flow rates achieved from the lower zone and we will now be
evaluating the potential for this gas discovery.'
For further information, please contact:
Regal Tel: 020 7408 9500
David J Greer, Chairman & Chief Executive Officer
Evolution Securities Tel: 020 7071 4300
Robert Collins
Mirabaud Securities Tel: 020 7321 2508
Pav Sanghera
Citigate Dewe Rogerson Tel: 020 7638 9571
Martin Jackson
Scott Fulton
Definitions:
bar one atmosphere pressure
mm millimetres
MMscf/d million standard cubic feet per day
TVD true vertical depth
In accordance with the guidelines of the AIM market of the London Stock
Exchange, Antonio Mozetic, PhD Geological Sciences, SPE, Director of Regal
Petroleum plc, is the qualified person that has reviewed the technical
information contained in this press release.
This information is provided by RNS
The company news service from the London Stock Exchange