Regal Petroleum reports that an unsuccessful well test has been conducted in the ERB-B-1X well operated by Apache East Ras Budran Corp. LDC in the East Ras Budran ("ERB") Concession in which Regal holds a 25% working interest.
The well was spudded on October 7, 2007 and drilled to a total depth of 5,146 feet in basement, several zones in the well had oil shows and the well was subsequently tested without a productive flow of oil being achieved. The well is now being plugged and abandoned.
The ERB-B-1X well is the second of two commitment wells in the initial exploration period of the ERB Concession. An additional exploration well, ERB-B-2X, is now under consideration to be drilled in late 2007 if a suitable drilling rig can be mobilized to the area.
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