At the Extraordinary General Meeting of the Company held today the Resolutions put to Shareholders to effect the Placing, which was announced on 27 February 2004, were duly passed.

Accordingly, application is being made for 13,333,334 New Ordinary Shares to be issued pursuant to the Placing and to be admitted to trading on AIM. Dealings on AIM are expected to commence on 25 March 2004. Following admission of the new Ordinary Shares, the Company will have 114,935,868 Ordinary Shares in issue.

Words and expressions used in this announcement shall, unless the context otherwise requires, bear the same meanings as set out in the circular to Shareholders dated 27 February 2004 copies of which are available from Regal Petroleum plc, 49 Albemarle Street, London W1S 4JR.

For further information, please contact:

Regal  Tel: 020 7647 6622 
Frank Timis, Executive Chairman   
Stephen West, Company Secretary    

Buchanan Communications  Tel: 020 7466 5000 
Bobby Morse