Regal Petroleum announces final-stage discussion on possible all-cash offer

Regal Petroleum (LSE: RPT LN) announced via an RNS release on Friday that its board was in final-stage discussions in relation to a possible all-cash offer for the company at 24 pence per share. Regal noted there was no certainty an offer would ultimately be made or the terms on which any such offer might be made. Regal’s two major gas and condensate fields in Ukraine have been shut-in since December 17 due to problems with licenses (an injunction by the Ministry of Environmental Protection was upheld by the Kyiv District Administrative Court on October 11).