Regal increases daily average output in Ukraine by 7.3%
KYIV. Dec 2 (Interfax) - Regal Petroleum Plc, a British company with oil and gas assets in Ukraine, increased average daily hydrocarbon output by 7.3% (by 119 barrels of oil equivalent) to 1,751 boe in comparison with October 2011.
The company earlier said in a statement on the London Stock Exchange that its gas production had reached 228,799 cubic meters a day and gas condensate - 51 cubic meters of day.
At the start of August, Regal restarted production operations at the Mekhedivsko-Golotovshchinskoye and Sviridovskoye gas condensate fields in Ukraine. The Kyiv District Administrative Court earlier lifted the Ukrainian Natural Resources Ministry's ban on development at Regal's fields and also upended court proceedings that had been ongoing since March 2010.
During the court proceedings, Regal's shares fell significantly in value while the controlling share packet in the company was purchased by Energees Management, which is controlled by businessman Vadim Novinsky.