Regal Petroleum Announces the Appointment of david john greer as ceo

Regal Petroleum Announces the Appointment of David John Greer as CEO

Sunday, November 25, 2007

Regal Petroleum announces the appointment of David John Greer, OBE, as Chairman and Chief Executive Officer and Antonio Mozetic as non-executive director of the Company, each with immediate effect. In addition, Hendrikus (Harry) Alardus Verkuil has accepted an appointment to join the Board as an executive director with effect from 15 January 2008.

In addition, Francesco Scolaro has stepped down as non-executive Chairman of the Company due to other business commitments but will continue as a non-executive director. Neil Ritson has resigned from his position as Chief Executive Officer and director with immediate effect.

The Company would like to thank both Mr Scolaro and Mr Ritson for their valued contribution during their tenures as Chairman and Chief Executive Officer of Regal, respectively.

David Greer, aged 50, has extensive oil industry experience, having worked for Shell International Exploration and Production for 28 years. He has held a wide variety of engineering, production, commercial and senior executive positions in Shell’s operations in the United Kingdom, the Netherlands, Norway, Canada, Oman, Argentina, the Philippines and latterly as Deputy CEO and Project Director of the Sakhalin 2 project in Russia. Mr Greer graduated from the University of Edinburgh in Civil and Structural Engineering and is a Fellow of the Institution of Mechanical Engineers. Mr Greer brings to the Company substantial experience in the management and implementation of large development projects in challenging environments. Mr Greer also has established a strong network of contacts in the global exploration and production contracting industry. Mr Greer was awarded his OBE in the 2002 New Years honours list.

Harry Verkuil, aged 50, has worked for Shell International Exploration and Production for 25 years in a wide variety of well engineering, operational and management roles in the Netherlands, Brunei, United Kingdom, India and currently in Saudi Arabia, where he holds the position of acting operations manager with South Rub Al Khali Company Ltd. Mr Verkuil holds a degree in Mechanical Engineering and is a Chartered Engineer.

Antonio Mozetic, aged 62, worked for Shell International Exploration and Production for 30 years during which time he held a variety of technical, commercial and management positions in the Netherlands, Saudi Arabia, the Philippines, China, Oman, Norway, Nigeria, Venezuela and the UK. Mr Mozetic is a highly experienced exploration professional and has been actively involved throughout his career in the exploration and discovery of a significant number of oil and gas fields. Mr Mozetic has most recently acted as an independent consultant and technical advisor to the oil industry and holds a doctorate in Geological Sciences from the University of Buenos
Aires.

Each of Mr Greer, Mr Verkuil and Mr Mozetic currently have no interest in shares in the Company.

David J Greer, OBE commented on his appointment as follows:
“I am very pleased and honoured to be offered this position and to be given the opportunity to participate in the further development of the Company’s exciting portfolio of assets, particularly in the Ukraine, where there appear to be significant reserves and upside potential. I look to forward to building a strong and experienced team to accelerate the development of these assets for the benefit of all shareholders.”