StockMarketWire.com - Regal Petroleum said it had achieved 'excellent' flow rates from a new development well drilled at its Mekhediviska-Golotvshinska gas and condensate field in Ukraine.

The MEX-119 development well was spudded in February and drilled to a depth of 4,822 metres.

One interval, at a drilled depth of 4,804 - 4,816 metres, was perforated, and initial testing was undertaken using a variety of choke sizes.

During that testing, strong gas and condensate flows were recorded, and, accordingly, the well was hooked-up to the gas processing facilities.

Currently, the well was producing at a stabilised flow rate of around 5.0m standard cubic feet per day of gas and 193 barrels per day of condensate.

'We are delighted with the results of this new development well, which was drilled safely and successfully,' chief executive Sergii Glazunov said.'

'The flow rates demonstrated are excellent and a significant boost to our overall production volumes.'


At 8:00am: [LON:RPT] Regal Petroleum PLC share price was +1.1p at 35.55p



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