Proactiveinvestors recommends
Additional Information
Market: AIM
Sector: Energy
EPIC: RPT
Latest Price: 22.50p  (1.67% Ascending)
52-week High: 51.75p
52-week Low: 21.00p
Market Cap: 72.14M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Regal Petroleum
www.regalpetroleum.co.uk

Regal Petroleum's primary assets are two large gas and condensate fields in Ukraine - the Mekhediviska-Golotvschinska (MEX-GOL) field and the Svyrydivske (SV) field located in the prolific Dneipner-Donets basin in the north east of Ukraine. Regal is the operator of the assets and there are currently 5 production wells on the assets. Secondary to this, but still significant, are two large exploration blocks in Romania, the Barlad and Suceava Blocks, where Regal holds a 100% and 50% interest respectively.

Regal Petroleum also has a 25% non-operated joint venture in Egypt with Apache Khalda Corporation LDC, where an exploration well tested positively for oil in September 2007 and was tied in as a producing well in June 2008.

Full Regal Petroleum profile here
Is RPT a Buy, Sell or Hold?Get your FREE analysis of RPT
Pdf

Regal Petroleum unveils investment programme for 2012

4th Jan 2012, 2:50 pm by Jamie Ashcroft Regal Petroleum unveils investment programme for 2012

 

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.

 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.