Regal announces the issue of 150,000 Ordinary Shares of 5p each (“Ordinary Shares”) as consideration for settlement of legal proceedings with Fred Dewis, a former employee of Regal.

It is expected that trading in the 150,000 Ordinary Shares will commence on 30 January 2003.

For further information, please contact:

Regal Petroleum plc Tel: 020 7647 6622 
Frank Timis, Executive Chairman   
Glenn Featherby, Finance Director   
Bill Humphries, Non-Executive Director   

   
Buchanan Communications  Tel: 020 7466 5000 
Bobby Morse / Tim Thompson