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Regal’s Ukraine licenses suspended by Environmental Ministry

Regal’s Ukraine licenses suspended by Environmental Ministry

30 June 2010

Regal Petroleum (AIM: RPT LN) had its licenses to develop the Mekhediviska Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in Ukraine suspended, Environmental Protection Minister Viktor Boyko said at a press conference yesterday. Boyko said the suspension followed attempts to resolve several license violations with company officials via meetings that were postponed on four occasions. Regal, in a Ukraine update issued on Monday, acknowledged it received a letter from Ukraine’s Minister of Environmental Protection to remedy some unspecified issues, dated March 30, 2010, but said it only received the letter with correspondence to the company on May 21, 2010.

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