Regal today announces the resignation of the following directors with immediate effect:

• Sir Peter Heap (Non-executive Chairman)
• Dr Rex Gaisford (Chief Executive Officer)
• Mr Richard Hardman (Exploration Director)

The Board of Directors of Regal expresses its appreciation to the above directors for their contribution to Regal since joining the Board last year.

Mr Paul Morgan has today joined the Board of Regal and will assume the responsibilities of Chairman and Chief Executive Officer. Mr Morgan has considerable oil and gas experience gained in North America, Eastern Europe and Australia.

The Board of Regal now comprises the following directors:

• Mr Paul Morgan (Chairman and Chief Executive Officer)
• Mr Roger Phillips (Finance Director)
• Lord St John of Bletso (Non-executive Director)

In addition, the Company announces that on 20 February 2006 Evolution Securities gave notice to resign as its Nominated Adviser/Broker which following a 30 day notice period, will be effective on 22 March 2006. The Company is in advanced discussions to appoint a new Nominated Adviser/Broker and a further announcement will be made in due course.

For further information, please contact:

Regal Tel: 020 7408 9500
Paul Morgan, Chairman and CEO 
Roger Phillips, Finance Director 
 
Buchanan Communications Tel: 020 7466 5000
Bobby Morse 

Further information on Mr Morgan

In the last 5 years Mr Morgan has been a director of the following companies:

Goldbelt Resources Ltd.
Gabriel Resources Ltd.
Southern Titanium Ltd.
Delcor Industries (USA) Inc

There are no other disclosures to be made in respect of the appointment of Mr Morgan under paragraph 15 of the AiM Rules.