In relation to the proposed amendments to the Subscription and Services Agreement between Alberry Limited, Regal Petroleum Corporation Limited ("RPC") and the Company, Regal announces that it has completed the acquisition from Alberry Limited of 1,800 shares (the “Shares”) in the capital of RPC.  RPC is now a wholly owned subsidiary of Regal.

In consideration for the acquisition of the Shares referred to above, 13,910,623 ordinary shares of 5 pence each in the capital of the Company have been allotted and issued to Alberry Limited.  These shares shall rank pari passu with the Company''s existing ordinary shares of 5 pence each and such shares are expected to be admitted to trading on AIM on 21 June 2007.

For further information please contact:

Regal Tel: 020 7408 9500
Neil Ritson, Chief Executive Officer 
Frank Scolaro, Chairman 
 
Evolution Securities
Nominated Adviser and Joint Broker Tel: 020 7071 4300
Robert Collins 
 
Mirabaud Securities Tel: 020 7321 2508
Pav Sanghera