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Regal Petroleum - Ukrine gas plant going gangbusters

June 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.

At one point last month, the shares surged to 416p although the shares have since fallen back in generally thin trading. The rise was triggered not only by the oil price which hit US$41 a barrel, the highest level in history, but also the news that Regal had successfully completed connection of its fourth well (MEX102) into the recently completed gas plant in the Ukraine and production swelled from 244,000 cubic metres to 830,000 cubic metres of gas equivalent per day. A further work-over well (SV10) has been completed and awaits connection to the plant.Regal said that its own gas plant is therefore approaching full capacity and that work to expand production will be completed in the next eight weeks at which time it also anticipa ...

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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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