15 December 2015

Regal Petroleum plc

("Regal" or the "Company")

SV-6 Well

Regal Petroleum plc (AIM: RPT), the AIM-quoted oil and gas exploration and production group, is pleased to announce the results of the workover of the SV-6 well at its 100% owned and operated Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in Ukraine.

In late 2014, the Company entered into an agreement with NJSC Nadra, the State-owned gas producer, for the lease of the SV-6 well, which was a suspended well owned by NJSC Nadra within the Company's SV licence area.  Under this agreement, the Company agreed to undertake workover operations on the well, and to bring the well into production if the workover operations were successful.  The Company is entitled to all the production from the SV-6 well and makes monthly lease payments to NJSC Nadra.

The workover operations were undertaken during the second half of 2015, and proved successful.  Three intervals in the B-21 Visean formation (4,962-4,971 metre depth, 4,979-4,981 metre depth, and 4,986-4,990 metre depth) and five intervals in the B-22 Visean formation (5,125-5,132 metre depth, 5,151-5,154 metre depth, 5,218-5,222 metre depth, 5,255-5,265 metre depth, and 5,267-5,271 metre depth) were perforated and good gas flow was recorded during initial testing.

The well was hooked up to the gas processing facility at the end of November 2015, and since then production testing was undertaken using a variety of choke sizes and operating modes.  The well has now been put on production and is producing at approximately 55,000 m³/d of gas and 8 m³/d of condensate (394 boepd in aggregate).   

With the inclusion of the production from the SV-6 well, average production from the Company's MEX-GOL and SV licences during December 2015 has been approximately 190,000 m³/d of gas, 45 m³/d of condensate and 21 m³/d of LPG (1,564 boepd in aggregate).

For further information, please contact:

Joe Staffurth, BSc Geology, PESGB, AAPG, consultant to the Company, has reviewed and approved the technical information contained within this press release in his capacity as a qualified person, as required under the AIM Rules.