Updates

Regal Petroleum - First positive trading update since float

February 2003

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.

The shares are up 15% since we made them one of our NAPS for 2003 last month. Over the month, Regal issued a trading update, the first since its successful flotation on AIM in late September. Regalhas announced that since flotation, considerable progress has beenmade on two wells in Ukraine, with one new well in production (makingtwo now in full production), another commencing production nextmonth and positive updates on three further wells currentlyunder construction. It all seems to be coming together nicely. Inaddition, as the only Western European company to have an exportlicense in the Ukraine (exported gas fetches almost double the price -approximately US$90 per thousand cubic metres ...

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Mears

Merchant Retail

Regal Petroleum - Greek news still awaited (May 2005)

Regal Petroleum - Continues data collection (March 2005)

Regal Petroleum - Drilling report due this month (February 2005)

Regal Petroleum - Evolution suggests 550p price target based on Kallirachi success (January 2005)

Regal Petroleum - Starts drilling in Kallirachi (November 2004)

Regal Petroleum (October 2004)

Regal Petroleum - Evolution says assets worth 667p (excluding Romania) (September 2004)

Regal Petroleum - New high ahead of anticipated newsflow (July 2004)

Regal Petroleum - Ukrine gas plant going gangbusters (June 2004)

Regal Petroleum - 25-fold increase in production in 2004; Reserve update due in June (May 2004)

Regal Petroleum - Shares up 173% since Jan '03 buy (February 2004)

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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