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Regal Petroleum finds gas in Romania

Regal Petroleum PLC reporeted finding gas in the first exploration well it drilled in Romania.

The well, known as RBN-4, flowed up to 3.74 million standard cubic feet of dry gas per day, said Regal, which holds a 100% stake in the project.

„This initial test of the first zone of the RBN-4 well is very encouraging and the flow rates achieved are in excess of those expected,” said David Greer, Regal's chairman and chief executive.

Regal said it has spudded the second exploration hole, RBN-3, located 5 kilometers to the northwest of RBN-4. Drilling will take about 20 days at a cost of around $1.1 million. (Hemscott)