Regal (AIM: RPT), the independent oil & gas exploration and production company, announces that an unsuccessful well test has been conducted in the ERB-B-2X well operated by Apache East Ras Budran Corp. LDC (“Apache”) in the East Ras Budran Concession in Egypt, in which Regal holds a 25% working interest.

 

The well was spudded on 9 February 2008 and drilled to a total depth of 5556 feet into basement. An interval in the well between 5100 and 5375 feet was tested based upon encouraging oil shows and electric wireline logs but no hydrocarbons were found.  The well is now being plugged and abandoned.

 

The Company also announces that the planned production tie-in of the ERB-A discovery announced on 24 September 2007, is in progress with design approvals being sought and engineering and construction work planned in April 2008 and commencement of oil production anticipated in May 2008.

 

For further information, please contact:

 

Regal Tel: 020 7408 9500
David J Greer, Chairman & CEO

 

Strand Partners Tel: 020 7409 3494
Simon Raggett / Rory Murphy

 

Mirabaud Securities Tel: 020 7878 3362
Peter Krens

 

Citigate Dewe Rogerson Tel: 020 7638 9571
Media enquiries: Martin Jackson
Analyst enquiries: Scott Fulton

 

In accordance with the guidelines of the AIM market of the London Stock Exchange, Antonio Mozetic, PhD Geological Sciences, SPE, Director of Regal Petroleum plc, is the qualified person that has reviewed the technical information contained in this press release.