Regal completes sale of Romanian subsidiary

StockMarketWire.com – Regal, the AIM-listed oil and gas exploration and production group (RPT), has completed the sale of its wholly-owned Romanian subsidiary, Regal Petroleum Romania, which holds a 50% non-operated interest in the Suceava concession in Romania, to Zeta Petroleum.

The consideration payable under the sale agreement was $650,000, subject to certain adjustments principally relating to the apportionment between Regal and Zeta of joint venture balances relating to the Suceava concession.

Following these adjustments, the net amount payable to Regal on completion was approximately $915,000, which was received today.

At 12:26pm: (LON:RPT) Regal Petroleum share price was +0.88p at 14.5p


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