StockMarketWire.com - Regal Petroleum has updated on its operational activities at its 100% owned and operated Mekhediviska-Golotvshinska (MEX-GOL) and Svyrydivske (SV) gas and condensate fields in Ukraine.

Its Ukrainian gas and condensate production for the period from Jan. 1 to Jun. 4 averaged 200,166 m3/d of gas and 44 m3/d of condensate (1,526 boepd in aggregate). The Company continues to benefit from the relatively strong gas prices in Ukraine.

The MEX-105 well was drilled to a depth of 5,228 metres, completed and has undergone initial testing. Stimulation activities are scheduled to be undertaken within the next month.

Testing and monitoring of the SV-53 well has continued and the well has recently been hooked up to a new compression system.

The SV-59 well has reached a depth of 3,800 metres, and drilling is continuing to the well's target depth of 5,470 metres. This well is targeting the Visean reservoirs ("B-sands").

Workover operations at the GOL-1 well are planned during July 2013 to isolate the lower Visean reservoirs and thereby prevent water ingress into the well. It is then planned to perforate the B-20 Visean reservoir, which, if successful, will be brought back onto production.

Installation of equipment for the upgrade of the Company's gas processing facility is continuing, and progress is also being made on additional upgrade work to provide for LPG recovery at the gas processing facility.




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