Regal completes sale of interest in Romanian concession

Regal Petroleum (RPT LN) finalized the sale of its 50% stake in the Suceava concession in Romania to Zeta Petroleum, the company announced yesterday. The initially announced  consideration of USD 650 ths has been adjusted after apportionment of a joint venture balance relating to the Suceava concession, increasing the net amount payable to Regal to USD 915 ths. Earlier, Regal announced that proceeds from the sale would be used for general corporate purposes.