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Regal Petroleum - Mulling option on European Hydrocarbon

August 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Regal continues to shoot seismics at Kalirachi with the findings expected to emerge at the end of August, contrary to the earlier expectation that the announcement would be in July. The long awaited news should confirm that the field holds  at least 240 million barrels of recoverable oil. There will also be an update that horizontal drilling has started at Prinos and that a production well is being installed at Epsilon in order to tie in this field to Prinos. One new suggestion (unconfirmed) is that the news is taking longer to  emerge as Regal also is considering its options over European Hydrocarbon, a dormant company (30% owned by chairman Frank Timis) which also has a licence in the Bay of Kavala  and which if proven t ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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