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

June 10, 2010 11:28 ET

Regal Resources Inc. Acquires Five Oil Producing Fields Located in Oklahoma

Engineering Report Shows 1,473,099 bbl of Oil Reserves

MUSKOGEE, OK--(Marketwire - June 10, 2010) - Regal Resources Inc. (PINKSHEETS: RSOU) (FRANKFURT: R7P1), an emergent diversified oil and gas operator, specializing in oil and gas exploration and oil field services, has completed an acquisition for 5 producing oil fields in Oklahoma.

Between the five fields, Vanpelt, Vincent, Brady Brown, Patrick Henry and Reed Trust, there is 1,473,099 bbls of oil reserves. The fields are producing from the Bartlesfield formation that has a history of prolific and steady production.

Regal has created a subsidiary called Vincent Oil Asset Management Corporation who will hold the five new Oklahoma fields that the company has purchased.

"This acquisition, along with our existing oil and gas holdings, strengthens the company's oil reserve base and positions us for consistent long term growth," noted Regal company president, Harold Tutt.

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