SOURCE: Regal Resources Inc (Royal Petroleum Corp.)

April 19, 2010 10:19 ET

Regal Resources Inc Enters Into Letter of Intent to Acquire Over 1900 Acres of Mineral Right Interests Including Over 320 Wells in the Allegheny Plateau Region of New York and Pennsylvania

Mineral Interests Are Within the Bradford Oil Field Which Is the First Major Commercial Oil Production Field in the World

MUSKOGEE, OK--(Marketwire - April 19, 2010) -  Regal Resources Inc. (PINKSHEETS: RSOU) (FRANKFURT: R7P1) an emergent diversified oil and gas operator, specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, oil field services, and distribution announced that it has entered into a Letter of Intent to acquire over 320 oil wells in Allegany Valley in western New York. The mineral interests are within the Bradford Oil Field and are situated on approximately 1900 acres.

Harold Tutt, Regal Resources President, said, "The potential revenue from the reworking of the existing wells coupled with a commercial drilling program on the undeveloped acreage fits perfectly with our business plan." He also added, "The geological reports that were furnished to us by the prospect indicate substantial reserves in on the undeveloped acreage."

www.regalres.com

About Regal Resources Inc

Regal Resources Inc is an emergent diversified oil and gas operator, specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, oil field services, and distribution. Our mission is to deliver a competitive and sustainable rate of return to our oil and gas shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's economic welfare.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information

  • Contact:
    Regal Resources Inc.
    Ron Edwards: Investor Relations

    405-443-4769
    Email: info@regalres.com