Further to its announcement on January 11th, Regal today announced a further update on its drilling and production operations in the Ukraine. The company reported a rise in production rates on improved performance from its SV-58 well in Ukraine, and forecast a pickup in output in the near future.

The current total daily field production rates are 2,166 boepd, reflecting a slightly improved performance from SV-58 as its production has stabilised following the successful abrasive perforation trial. Regal indicated that production rates would improve further in the near future due to the parallel abrasive perforation operations planned in both SV-61 and SV-58 wells.

In respect to SV-58, equipment is currently being mobilised, including 6,200m of coiled-tubing, for deployment to access and enable perforation of the remaining 75m of target reservoir in the B-sands during February 2010.

Following the success of abrasive perforation in SV-58, the rig's pumping and liquid handling systems are already in place on SV-61 to immediately enable the installation of multiple abrasive perforation stations, which will each provide three access points to the main B-sand target reservoirs. According to Regal, this should also enable production from SV-61 to commence ahead of plan.

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