VOL. XLVII

No 19

10-May-2004

EGYPT

Regal Petroleum To Acquire Gulf Of Suez Acreage

UK-registered Regal Petroleum has announced the signing of a heads of agreement to acquire LK Explorations interests to several exploration and production rights in the East Ras Badran area in the Gulf of Suez. The property contains four large prospects identified following the evaluation of existing data, the company said. During the first three years of the concession period, Regal has a commitment to spend $4mn...