Regal Petroleum plc
16 Old Queen Street
London SW1H 9HP
United Kingdom
Tel: +44 (0)20 7408 9500
info@regalpetroleum.co.uk
During the period 1996 to 1999 Regal Petroleum conducted reviews of a number of oil and gas projects in Ukraine which led to an exploration joint venture agreement in August 1999 under which Regal acquired a 75% interest in the Mekhediviska, Golotovschinska and Svyrydivske (MEX, GOL and SV) gas field areas in Eastern Ukraine.
Prior to its flotation in September 2002, Regal invested approximately US$8 million in identifying, assessing and developing the joint venture project to the point of initial production. In September 2002 Regal raised £10 million through an institutional placing and was admitted for trading on the Alternative Investment Market (AIM) of the London Stock Exchange on 27 September 2002.
In July 2004 Regal was awarded a 100% interest in 2 production licences, each for a period of 20 years, in the former exploration joint venture area of the MEX-GOL and SV fields in Ukraine. Since then, Regal has been progressing the development of these fields.
Regal acquired a 100% working interest in the VAS field in July 2016.
Production
The aggregate average daily rate of production from the MEX-GOL, SV and VAS fields for the final quarter of 2018 was 4,139 boepd. This compares with an aggregate average daily production rate of 2,803 boepd for the final quarter of 2017, which represents an increase of nearly 48%.
The average daily production of gas, condensate and LPG from the MEX-GOL and SV fields for the period from 1 October 2018 to 31 December 2018 was 417,921 m3/d of gas, 88 m3/d of condensate and 44 m3/d of LPG (3,341 boepd in aggregate) (Q4 2017: 276,089 m3/d of gas, 54 m3/d of condensate and 30 m3/d of LPG (2,187 boepd in aggregate)).
Average daily production of gas and condensate from the VAS field for the period from 1 October 2018 to 31 December 2018 was 111,249 m3/d of gas and 10.6 m3/d of condensate (798 boepd in aggregate) (Q4 2017: 87,634 m3/d of gas and 6.4 m3/d of condensate (616 boepd in aggregate)).
KEYFACT Energy