Regal Petroleum issues Ukraine Update

Regal Petroleum issues Ukraine Update

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, announce an update of operational activities at its 100% owned and operated Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in Ukraine.
The Company’s activities in Ukraine have been generally unaffected by the geopolitical upheaval that has been taking place in Ukraine during recent months, and the Company has been able to produce and operate normally at the MEX-GOL and SV fields.
Average gas, condensate and LPG production from such Ukrainian fields for the period from 1 April 2014 to 30 June 2014 averaged 154,658 m3/d of gas, 53 m3/d of condensate and 20 m3/d of LPG (1,387 boepd in aggregate).
Workover operations at the SV-61 well, designed to eliminate water ingress into the well, were undertaken in the last quarter but after equipment failure, the operations were suspended and will be completed in the second half of 2014.
Preparations are continuing for the commencement of the drilling of the MEX-109 well and the hydraulic fracturing of the MEX-120 and MEX-105 wells in the second half of 2014. In addition, further geophysical studies, aimed at improving the understanding of the sub-surface within the MEX-GOL and SV licences, are continuing.
Source: Regal Petroleum

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