The Company was notified today that on 8 April 2004, pursuant to the Company's Executive Share Option Scheme (“ESOS”), Mr W H Humphries has exercised options over 350,000 Ordinary Shares of 5 pence each (“Ordinary Shares”) at an average exercise price of 79.5 pence per Ordinary Share. Following this exercise Mr W H Humphries is no longer interested in any options over Ordinary Shares. In addition, pursuant to the ESOS a former employee has also exercised options over 150,000 Ordinary Shares. Accordingly, the Board of the Company has today allotted 350,000 Ordinary Shares to Mr W H Humphries and 150,000 Ordinary Shares to a former employee.

Application has been made to the Alternative Investment Market of the London Stock Exchange (“AIM”) for the admission to trading of these 500,000 Ordinary Shares. These shares rank pari passu with the Company's existing Ordinary Shares and dealings are expected to commence on 16 April 2004 on AIM.

As a result of this share issue, Mr W H Humphries has a beneficial interest in 350,000 Ordinary Shares representing 0.3 per cent. of the Company's share capital.

For further information, please contact:

Regal Petroleum plc Tel: 020 7647 6622 
Stephen West, Company Secretary   

   
Buchanan Communications  Tel: 020 7466 5000 
Bobby Morse / Catherine Miles