OREANDA-NEWS. September 23, 2010. Regal, the AIM-listed oil and gas explorer focusing on the Ukraine and Romania fields, extends its rights to explore and develop for oil and gas at the Barlad EV-2 Block (Romania), the company announced on Sep 22. The license has been extended by two and a half years effective from Sep 1 2010. Their work program commitment is valued at USD 5.1 mn, including the drilling of one well to 2,500 m.

Millennium Capital considers the news as neutral for the company, taking into account the fact that Regal has recently plugged and abandoned the E-1 Sagna well located at the Barlad Concession. The news indicates that the company has decided to hold onto its Romanian assets.