Regal Wraps Up Workover on Ukrainian Well, Restarts Production

Regal has successfully completed the workover of well MEX-102 in Ukraine, which has now been taken back into production. The well was re-entered to access unexploited production from the B23 reservoir. The initial production rate from this well (measured at the production facility) is 198,000 m3/d of gas (7.03 mmscf/d or 1,171 boepd).

David J Greer, CEO, commented, "We are very pleased with the initial results of the MEX-102 work-over and the associated production increase which is at the upper end of expectations. We now look forward to an additional production increase from our new MEX-103 well due shortly and of course to the commencement of our next phase of development drilling using the two recently arrived new-build modern drilling rigs. With this latest production increase, we are well on track to meet our end year production target."