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Sunday Telegraph: Regal Petroluem

By Helen Power
2 December 2007

There are few more long-suffering PRs in the City than one Bobby Morse at Buchanan.

For the past five years the spinner has been doing his best to ensure his client, Regal Petroleum which is backed by colourful Romanian entrepreneur, Frank Timis, gets just the right kind of PR. Difficult to do if your client claims to have found a huge oil field in Greece which then turns out to be dry.

Glory seemed to have been restored to Regal with news that oil giant Shell had agreed to a deal to take a stake in its Ukrainian gas fields, but this was abruptly called off after Regal suddenly replaced the management team. Critics have claimed Timis, who still controls 20 per cent of the shares, was behind the move.

It seems all this has proved the final straw for Morse, who we understand is parting ways with the client.

Asked to clarify the situation, Buchanan did what PRs do best: not comment.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/12/02/ccdiary102.xml

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