GOL/MEX and SV Fields
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Further to the announcement dated February 16, 2006 regarding the shut down of
production at Regal's operations on its GOL/MEX and SV fields in Ukraine
as a consequence of the legal challenge brought by Chernihivnaftogasgeologia
('CNGG') against the Ministry of Environmental Protection ('MEP') with respect
to the validity of Regal's production licenses in the Ukraine, Regal has
received an order from the Supreme Administrative Court of Ukraine suspending
the ruling of the Kiev Court of Appeal until the appeal to the Supreme
Administrative Court of Ukraine is heard.
This order allows production at Regal's operations on its GOL/MEX and SV
fields in Ukraine to restart. Production will restart in the next few days.
Regal is awaiting notification of a hearing date for its further appeal to the
Supreme Administrative Court of Ukraine to establish the validity of its