Regal Petroleum PLC Ukraine Update (4351B)
04 April 2017 - 4:00PM
UK Regulatory
TIDMRPT
RNS Number : 4351B
Regal Petroleum PLC
04 April 2017
4 April 2017
Regal Petroleum plc
("Regal" or the "Company")
Ukraine Update
Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas
exploration and production group, announces an update of its
operational activities at its Ukrainian gas and condensate fields,
which comprise the Mekhediviska-Golotvshinska (MEX-GOL) and
Svyrydivske (SV) fields, and the Vasyschevskoye (VAS) field, all of
which are 100% owned and operated.
Average gas, condensate and LPG production from the MEX-GOL and
SV fields for the period from 1 January 2017 to 31 March 2017 was
131,025 m(3) /d of gas, 33 m(3) /d of condensate and 17 m(3) /d of
LPG (1,100 boepd in aggregate).
Average gas and condensate production from the VAS field for
period from 1 January 2017 to 31 March 2017 was 86,890 m(3) /d of
gas and 6.7 m(3) /d of condensate (613 boepd in aggregate).
The MEX-109 infill well, located in the MEX-GOL field, has been
drilled, to a depth of 4,873metres, and is now being logged, cased
and prepared for completion. The well had an original target depth
of 5,250 metres but, due to some technical issues, further drilling
activities were curtailed once the primary reservoir targets were
accessible. The well was spudded in July 2016 and targeted Visean
reservoirs ("B-Sands"). It is anticipated that completion
operations will be concluded by May 2017, and thereafter well
testing will commence. Subject to successful testing, production
hook-up will be completed by the end of the second quarter of
2017.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Regal Petroleum plc Tel: 020 3427
3550
Keith Henry, Chairman
Sergei Glazunov, Financial
Director
Strand Hanson Limited Tel: 020 7409
3494
Rory Murphy / Richard Tulloch
Citigate Dewe Rogerson Tel: 020 7638
9571
Martin Jackson / Shabnam Bashir
Philip Frank, PhD Geology, Chartered Geologist, FGS, PESGB,
consultant to the Company, has reviewed and approved the technical
information contained within this press release in his capacity as
a qualified person, as required under the AIM Rules.
Definitions
boe barrels of oil equivalent
boepd barrels of oil equivalent
per day
LPG liquefied petroleum
gas
m(3) cubic metres per day
/d
m(3) cubic metres
% per cent
This information is provided by RNS
The company news service from the London Stock Exchange
END
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