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Proactiveinvestors United Kingdom Regal Petroleum http://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Regal Petroleum RSS feed en Wed, 23 May 2012 23:58:45 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Broker press ]]> Wed, 09 May 2012 00:00:00 +0100 <![CDATA[News - Regal Petroleum to focus in Ukraine drilling and field development in 2012 ]]> http://www.proactiveinvestors.co.uk/companies/news/41736/regal-petroleum-to-focus-in-ukraine-drilling-and-field-development-in-2012-41736.html Ukraine operating Regal Petroleum (LON:RPT) will focus on drilling the SV-53 and MEX-105 wells during 2012 and carry out three planned workovers with a view to improve production from its fields, Mekhediviska-Golotvschinska (MEX-GOL) and Svyrydivske (SV).

The company is currently upgrading its gas treatment facility is to be upgraded to improve the quality of its gas production and enable it to recover and sell LPG.

Based on current production and the resultant revenue it receives for its gas and condensate sales, Regal anticipates we will fund the 2012 development programme from existing cash resources and operational revenues.

“Subject to positive results from our SV-53 and MEX-105 wells, we would plan to increase the number of rigs we employ on the MEX-GOL and SV fields to more fully develop the reservoir,” it told investors.

The group announced results for the full year to December 31 2011, a period which saw the resolution of regulatory difficulties and the subsequent production restart in July, as well as the addition of a strong local partner, Energees Management, which took a majority stake.

Regal posted revenues of US$19.07 million for 2011, compared with US$29 million a year earlier, and slashed its loss from continuing operations to US$3.3 million from US$24.8 million.

Production resumed at the end of July 2011, and average production over the five months period to December 31 was 216,573 cubic metres of gas per day and 48 cubic metres of condensate per day, which equates to a combined total oil equivalent of 1,653 barrels of oil equivalent per day.
 
Regal’s average production over the three month period to March 31 2012 was 233,800 cubic metres per day of gas and 49 cubic metres of condensate per day, which equates to a combined total of 1,769 boepd.

Cash held at December 31 2011 was US$19.7 million.

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Fri, 20 Apr 2012 09:16:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/41736/regal-petroleum-to-focus-in-ukraine-drilling-and-field-development-in-2012-41736.html
<![CDATA[RNS press release - 2011 Final Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/120420rpt7236b/ Fri, 20 Apr 2012 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120420rpt7236b/ <![CDATA[News - Regal Petroleum to drill two new wells on its MEX-GOL and SV fields in Ukraine ]]> http://www.proactiveinvestors.co.uk/companies/news/41097/regal-petroleum-to-drill-two-new-wells-on-its-mex-gol-and-sv-fields-in-ukraine-41097.html Regal Petroleum (LON:RPT) said that the SV-53 well on its Svyrydivske gas and condensate field in Ukraine has been spudded and will take 400 days to reach target depth.

The well was spudded on March 28 and a second well - the MEX-105 well -  is expected to be started later this month or early May.

This is expected to take 350 days to reach target depth.

News of the drilling of two wells was part of an update about the firm's wholly-owned and operated Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) fields along with production figures for the first quarter of 2012.

Gas and condensate production for the first quarter this year averaged 233,800 cubic meters per day of gas and 49 cubic metres per day of condensate - or a total of 1,769 barrels of oil equivalent per day, the company said.

As part of its 2012 investment programme, Regal also said it had recently completed the first of three work-overs of existing wells designed to enhance production from them.

The SV-66 well is currently on production test following its work-over, while an upgrade of methanol equipment at two existing wells is also planned later this year.

In addition, the firm's gas treatment facility is being upgraded over two phases during this year to enhance the facility's overall efficiency and incorporate compression equipment, and additional upgrade work will provide for LPG recovery, it said.

The investment programme is budgeted to be sourced from existing cash and operational revenues.

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Tue, 03 Apr 2012 15:40:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/41097/regal-petroleum-to-drill-two-new-wells-on-its-mex-gol-and-sv-fields-in-ukraine-41097.html
<![CDATA[RNS press release - Ukraine Operations Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/120403rpt7447a/ Tue, 03 Apr 2012 14:58:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120403rpt7447a/ <![CDATA[News - Regal Petroleum gets new non-executive director ]]> http://www.proactiveinvestors.co.uk/companies/news/39198/regal-petroleum-gets-new-non-executive-director-39198.html

Ukraine-focused Regal Petroleum (LON:RPT) has a new non-executive after Energees nominated Sergii Glazunov as one of its representatives on the board.

Glazunov takes over with immediate effect from Denis Rudev, who has resigned from the board.

Energees took a 54 per cent stake when it emerged as a white knight for the Ukraine-focused company in March.

Energees is part of Ukrainian conglomerate the Smart Group (JSC Smart) is allowed to nominate three directors to the board as long as it holds over 50.1 per cent of the shares.

Glazunov, 41, is a Ukrainian national and is currently the Director of Corporate Development at JSC Smart.

He is a qualified Chartered Financial Analyst with an MBA from Wayne State Univeristy and is currently a director of CFA Ukraine and Veres Group.

Regal has two fields in the Ukraine, the Mekhediviska-Golotvschinska (MEX-GOL) field and the Svyrydivske (SV) field. Production resumed from the two gas fields in July.

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Mon, 20 Feb 2012 15:46:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/39198/regal-petroleum-gets-new-non-executive-director-39198.html
<![CDATA[RNS press release - Directorate Change ]]> http://www.proactiveinvestors.co.uk/companies/rns/120220rpt7535x/ Mon, 20 Feb 2012 15:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120220rpt7535x/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/120208rpt0643x/ Wed, 08 Feb 2012 15:30:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120208rpt0643x/ <![CDATA[News - Regal Petroleum unveils investment programme for 2012 ]]> http://www.proactiveinvestors.co.uk/companies/news/37463/regal-petroleum-unveils-investment-programme-for-2012-37463.html  

Regal Petroleum (LON:RPT) this afternoon told investors that it has now finalised its investment programme for the coming year in the Ukraine.

It plans to drill new wells, work-over existing wells and upgrade its processing facilities. These investments will be funded from existing cash and operational revenues, the company said.

Regal also confirmed that it has entered into drilling contracts with local Ukrainian contractors for the drilling of two new wells. Drilling preparations are now underway. 

The first well, SV-53, will be spudded in late February 2012 and the MEX-105 will follow in mid-March. The SV-53 well will take 400 days to reach its target depth of 5,450 metres and MEX-105 is expected to take 350 days to reach 5,250 metres.  

The work-over programme will focus on enhancing production in 3 wells. Meanwhile methanol equipment will be upgraded in 2 wells.

The gas treatment facility will be upgraded to enhance the facility's overall efficiency and incorporate compression equipment, Regal said. Also it explained that additional upgrade work will provide LPG recovery.

Regal added that in December, production averaged 231,634 million cubic feet of gas and 49 cubic metres of condensate per day.

 

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Wed, 04 Jan 2012 14:50:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/37463/regal-petroleum-unveils-investment-programme-for-2012-37463.html
<![CDATA[RNS press release - Ukraine Operations Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/120104rpt9960u/ Wed, 04 Jan 2012 14:20:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120104rpt9960u/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/111228rpt6302u/ Wed, 28 Dec 2011 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111228rpt6302u/ <![CDATA[RNS press release - Replacement: Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/111223rpt6087u/ Fri, 23 Dec 2011 11:59:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111223rpt6087u/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/111222rpt5490u/ Thu, 22 Dec 2011 17:54:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111222rpt5490u/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/111206rpt4640t/ Tue, 06 Dec 2011 15:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111206rpt4640t/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/111206rpt4325t/ Tue, 06 Dec 2011 11:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111206rpt4325t/ <![CDATA[News - Regal Petroleum increases gas production in October and November ]]> http://www.proactiveinvestors.co.uk/companies/news/36446/regal-petroleum-increases-gas-production-in-october-and-november--36446.html  

Regal Petroleum (LON:RPT) this afternoon confirmed its production numbers from its operations in Ukraine.

Production resumed from the MEX-GOL and SV gas fields in July.

Today it revealed that gas production averaged 212,367 cubic metres of gas per day and 49 cubic metres of condensate per day – equating to 1,632 barrels oil a day – in October.

Meanwhile in November it produced an average of 228,799 cubic metres of gas per day and 52 cubic metres of condensate per day – which equates to 1,751 barrels of oil per day.

These rates represent a notable increase from the 207,205 cubic metres of gas and 52 cubic metres of condensate produced each day over the seven day period during September, as reported in the group’s interim results statement.

In September’s interims Regal said that it was receiving a gas price of US$379 per thousand cubic metres in Ukraine, which is up 48 per cent on the average price from 2010.

 

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Fri, 02 Dec 2011 14:07:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/36446/regal-petroleum-increases-gas-production-in-october-and-november--36446.html
<![CDATA[RNS press release - Ukraine Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/111202rpt2678t/ Fri, 02 Dec 2011 12:31:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111202rpt2678t/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/111019rpt4859q/ Wed, 19 Oct 2011 15:10:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/111019rpt4859q/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/111003rpt4667p/ Mon, 03 Oct 2011 17:13:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/111003rpt4667p/ <![CDATA[RNS press release - 2011 Interim Results - REPLACEMENT ]]> http://www.proactiveinvestors.co.uk/companies/rns/110928rpt1179p/ Wed, 28 Sep 2011 14:38:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110928rpt1179p/