SOURCE: Regal Resources, Inc. (Royal Petroleum Corp.)

April 30, 2010 12:10 ET

Regal Resources Inc. Identifies Significant Oil and Gas Reserves for Acquisition in Central Pennsylvania

According to Independent Oil and Gas Reports Acreage Includes Over 100 Wells With Proved Producing Leases Containing Substantial Reserves

MUSKOGEE, OK--(Marketwire - April 30, 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 is in negotiations to acquire several hundred acres of oil and gas leases with over 100 wells. Independent engineering reports indicate that the leases have other potential pay zones.

Current Events 

"We believe that the tragedy that is taking place with the loss of the drilling rig in the Gulf of Mexico and the eminent ecological damage from the thousands of square miles of crude oil threatening the environment will make onshore drilling more acceptable in the future," said Harold Tutt, Regal Resources President. He also commented, "Our aggressive acquisition strategy is being fueled by the catastrophic oil spill which we believe will add tremendous value to our existing portfolio of mineral reserves and oil and gas production as the philosophy of offshore drilling sinks."

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.

Forward Looking Statements
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