Regal Petroleum To Issue USD 51 mln In New Shares.

According to the Financial Times, Regal Petroleum, a London-based oil and gas company operating in Ukraine, plans to issue up to USD 51 mln in new shares to groups connected to the Ukrainian government at their AGM on May 26. In related news, the company also announced that it had retained Tristone Capital to advise on the partial divestment of a stake in the company’s Mekediviska-Golotvschinska and Svyrydivske gas and condensate fields. According to the press release Regal is seeking a strategic partner for 50% of the fields and this partner would be able to participate in the field’s operations.