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Regency Mines chair details plans for US oil investments

Andrew Bell, chairman of Regency Mines (LON:RGM), sheds light on the company’s planned oil investments in the United States after it told investors it was eyeing near-term cash generative assets.

“The opportunities are located in Texas & Louisiana,” Bell told Proactive Investors. “Essentially they are a variety of reworking propositions - three of which are already generating cash flow.

“We believe that cash flow could increase and the operations could become quite profitable in a relatively short space of time.”

With natural resource markets still relatively weak, Regency is giving priority to the acquisition and development of low risk, low cost, cash generating assets with development potential.

Back in April, the firm sold out of the Horse Hill oil project in Sussex, UK.

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