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The fields were originally discovered and partially appraised in the 1960's-80's by the State-run Naftogaz unit.
Regal negotiated an exploration joint venture with the State-owned Chernihivnaftagasgeologia (CNGG) unit in 1999 for a 75% joint venture interest in, and operatorship of, the MEX-GOL and SV fields.
Between 2000 and 2004, the Regal / CNGG joint venture drilled two appraisal / development wells, MEX-102 (taken into production in April 2004) and SV-52 (plugged and abandoned in March 2004), and successfully completed three work-overs on Soviet-era wells. These results led the Ukrainian Government to declare the fields commercial in December 2003.
Following the declaration of commerciality, on 1 July 2004, Regal was granted 20 year production licences for each of the MEX-GOL and SV fields, with a 100% working interest in each field.
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