Regal Petroleum restarts production as appeal period expires

Regal Petroleum (LSE: RPT LN) recommenced production on July 22, 2011 at its MEX-GOL and SV fields following a decision by the Kyiv Administrative Court to reverse an order of the Ministry of Environmental Protection that forced it to suspend production in November 2010, according to an announcement at the London Stock Exchange yesterday. The court ruling was capable of being appealed during a 10-day period from July 26, 2011, but Regal said yesterday no appeal had been filed and accordingly the ruling went into force. The resolution of Regal’s license dispute has been expected since its takeover by Smart Holding in March.