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Financial Times: Shell rumour boosts Regal

By Yee To Wong
Published: August 15 2007 03:00 | Last updated: August 15 2007 03:00

Regal Petroleum closed higher yesterday on talk that Royal Dutch/Shell was looking to buy the exploration group’s assets in Ukraine.

Earlier this year, Regal appointed Tristone Capital to explore a divestment of its Mekhediviska-Golotvschinska and Svyrydivske gas and condensate fields in the eastern European country.

The company reported a full-year loss of $109.2m (£54.5m) due to legal charges for securing its Ukrainian licences. Regal Petroleum rose 4.6 per cent to 192¼p .

Copyright The Financial Times Limited 2007

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