Regal Petroleum plc, the AIM-quoted oil and gas exploration and production group, is satisfied with testing results of the MEX-109 well located at its Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in Poltava region, Ukraine.

"During this initial testing, the well produced at a rate of approximately 85,000 m3/d of gas and 40 m3/d of condensate (778 boepd in aggregate)," the company reported in a statement posted on the London Stock Exchange.

One interval, at a drilled depth of 4,802 - 4,808 meters, within the B-20 Visean reservoirs ("B-sands") was perforated, and short-term initial flow testing was undertaken using a test separator through a 7 mm choke.

The MEX-109 well was spudded in July 2016 and drilled to a depth of 4,873 meters. he well had an original target depth of 5,250 meters but, due to some mechanical issues, further drilling activities were curtailed once the primary reservoir targets were accessible.

It is now intended to hook up the well to the gas processing facility and thereafter undertake production testing.

Regal's 54% controlling stake belongs to Vadim Novinsky's structures.