Regal Disposes of Interezst in Liberian Blocks
Regal Petroleum announces that it has disposed of its interest in Blocks 8 and 9 offshore Liberia, through the disposal, for a nominal consideration, of its wholly owned subsidiary Regal Liberia Limited, to European Hydrocarbons Limited, which holds a 75% interest in such Blocks.
The Production Sharing Contracts in respect of these Blocks, through which the Company held a 25% interest, remained unratified by the Liberian Government and the Company has taken the view that this project does not constitute part of its future area of core interest.
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