Regal Petroleum PLC SV-12 Workover Result (5160U)
13 July 2018 - 4:00PM
UK Regulatory
TIDMRPT
RNS Number : 5160U
Regal Petroleum PLC
13 July 2018
13 July 2018
Regal Petroleum plc
("Regal" or the "Company")
SV-12 Workover Result
Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas
exploration and production group, is pleased to announce the result
of the workover of the SV-12 well at its Mekhediviska-Golotvshinska
(MEX-GOL) and Svyrydivske (SV) gas and condensate fields in
Ukraine.
The workover operations on the SV-12 well have now been
successfully completed. Two intervals in the B-22 Visean formation
(5,167 - 5,179 metre depth and 5,213 - 5,235 metre depth) were
perforated, and, after short-term initial flow testing established
good gas and condensate flow, the well is being hooked-up to the
gas processing facility. After completion of the hook-up,
production testing will be conducted to optimise the operating
parameters of the well.
The short-term initial flow testing was undertaken through a
test separator using a 6 mm choke, and during the test periods, the
well demonstrated flow rates of approximately 125,000 m(3) /d of
gas and 40 tonnes/d of condensate.
The SV-12 well was a suspended well owned by NJSC Ukrnafta, the
partially State-owned oil and gas producer, and is located within
the Company's SV licence area. Regal entered into an agreement with
NJSC Ukrnafta under which the Company agreed to workover the well,
and, subject to a successful workover, to sell the gas and
condensate produced from the well under an equal net profit sharing
arrangement between Regal and NJSC Ukrnafta.
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
Chris Hopkinson, Chairman
Sergii Glazunov, Chief Executive Officer
Strand Hanson Limited Tel: 020 7409 3494
Rory Murphy / Richard Tulloch
Citigate Dewe Rogerson Tel: 020 7638 9571
Louise Mason-Rutherford / Elizabeth
Kittle
Philip Frank, PhD Geology, Chartered Geologist, FGS, PESGB,
Director of 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
m(3) /d cubic metres per day
mm millimetres
tonnes/d tonnes per day
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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