25 June 2010
Regal Petroleum plc
("Regal" or the "Company")
ROMANIAN OPERATIONAL UPDATE
Regal, the AIM-listed oil and gas exploration and production group (symbol: RPT), announces an update on its Joint Venture exploration project in Romania.
Climauti-1 well successfully tests at 76,100 m3/d
The Climauti-1 well, drilled in the Suceava Block in Romania, has tested at a stable rate of 76,100 m3/d (475 boepd) on a 12mm choke with a flowing tubing head pressure of 30bar. This rate was achieved over a 36 hour test period with a drawdown of only 3.2 bar from Sarmatian sands at a depth of 456.5 - 463.6m, 7.1m gross, 6.3m net. It is estimated that the gross recoverable gas reserves will be 2bcf over the life of the well and work will start shortly on the installation of a 4km pipeline to the Bilca Gas Plant in the adjacent Brodina block with first gas expected in Q4 2010.
Interests in the Suceava Block are Aurelian Oil & Gas (Romania) SRL 50%, Regal Petroleum PLC 50%.
For further information, please contact:
Regal Petroleum plc Tel: 020 7408 9500
David J Greer, CEO
Strand Hanson Limited Tel: 020 7409 3494
Simon Raggett / Rory Murphy
Mirabaud Securities Tel: 020 7878 3362
Peter Krens / Pav Sanghera
Citigate Dewe Rogerson Tel: 020 7638 9571
Martin Jackson / George Cazenove
Ronan McElroy, PhD Geology, SPE, Chief Technologist of Regal Petroleum plc, 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:
boepd barrels of oil equivalent per day
m3/d cubic metres per day
m metres
bcf billion cubic feet
Conversion Factors (SPE):
100,000 m3 gas = 624 boe
This information is provided by RNS