Regal: 2nd Test on RBN-4 a Downer, But Outlook Still Sunny

Regal Petroleum has flow tested a second interval at its exploration well, RBN-4, in the Barlad Concession, Romania (100% working interest). The RBN-4 well was completed to a total depth of 973 meters TVD on Oct. 27, 2007.

This second, higher, interval of 12.7 meters, between 543.3 meters and 556.0 meters, in the Sarmatian formation was perforated and tested but no hydrocarbons were present.

Results from the previous successful testing of the lower interval were announced on Dec. 13, 2007. This lower 4.6 meter interval, between 756.7 meters and 761.3 meters, in the Sarmatian formation yielded a maximum dry gas flow rate of 3.74 MMscf/d on a 12mm choke with a flowing tubing head pressure of 49 bar over a 24 hour flow period.

The RBN-4 well has now been suspended to allow re-entry of the lower producing interval and to allow further evaluation of the results of this well.

"Although the test results of the second interval are disappointing, we are very encouraged by the flow rates achieved from the lower zone, and we will now be evaluating the potential for this gas discovery," David J Greer, Regal's chairman and CEO, said.