Following a request by Regal to the State Committee of Natural Resources of Ukraine (“the Ministry”), Regal is pleased to announce that it has received a formal letter from the Ministry confirming the validity of all of Regal's licences and permits in Ukraine for Mekhedivsko-Golotovschinske (Licence # 3334) and Svyrydivske (Licence # 3335) gas and condensate fields.

The confirmation of the validity of Regal's 20 year production licences follows the further confirmation announced on 3 October 2005 of the authorising by the Ministry of Fuel and Energy of Ukraine through the issue of Order No 492 for the commercial production of the Company's Svyrydivske licence in Ukraine.

Regal has also been informed by its counsel in Ukraine that the court proceedings relating to the former joint venture in the Ukraine between Regal and Chernihivnaftogasgeology has been further delayed. Regal will make an announcement as soon as the hearing is completed.

For further information please contact:

Regal  Tel: 020 7408 9500
Dr. Rex Gaisford 
 

Buchanan Communications Tel: 020 7466 5000
Bobby Morse/Ben Willey