The Romanian Government has extended Regal’s licence for petroleum exploration, development and production in Barlad block EV-2 in north-east Romania for another two and a half years.
Regal received the rights in 2004 under the terms of the concession agreement it signed with the National Agency for Mineral Resources.
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The licence was extended based on a new work commitment programme worth $5.1m, including seismic data acquisition, processing and drilling of one well to 2,500m.
Regal owns a 100% working interest in Barlad EV-2 and is its operator with a total area of 6,284km².
