Regal suspends drilling at MEX-106 well due to obstruction
2 October 2009
Regal Petroleum (RPT LN) said yesterday in a drilling update that it suspended drilling at the MEX-106 well due to a deep mechanical obstruction. The company said that it would turn its focus to completing the SV-58 well and drilling the new SV-61 well, which it views as more commercially appropriate, before returning to MEX-106. Regal shares fell 12% yesterday to 94.5 pence, its biggest drop since June 22.
