Pursuant to the Company's Executive Share Option Scheme, options over 250,000 Ordinary Shares of 5 pence each (“Ordinary Shares”) have been exercised at a price of 60 pence per Ordinary Share.

Application has been made to the Alternative Investment Market of the London Stock Exchange (“AIM”) for the admission to trading of these 250,000 Ordinary Shares. These shares rank pari passu with the Company's existing Ordinary Shares and dealings are expected to commence on 26 February 2004 on AIM.

For further information, please contact:

Regal  Petroleum plc Tel: 020 7647 6622 
Stephen West, Company Secretary   
   
Buchanan Communications  Tel: 020 7466 5000 
Bobby Morse