Regal Petroleum plc, a British oil and gas company with assets in Ukraine, has previously agreed on the purchase of PrJSC Ukrnaftinvest scientific and production concern, which holds licenses for the development of Biloliska and Alibeisko-Trapivska oil and gas fields.
According to a statement on the London Stock Exchange’s website, the parties signed the memorandum on the purchase of Ukrnaftinvest, 50% in which is owned by each of Lidia Chernysh and Bolaso Investments Limited of Leonid Kozachenko, which foresees a deal worth up to $40 million.
As reported, in 2018 Regal increased its net profit by 23.6 times compared to 2017, to $54.3 million. The net profit indicator included, among other things, the restoration of the value of assets (in the amount of $36.1 million due to revaluation of the remaining reserves on MEX-GOL and SV deposits), impaired in the previous periods.
The majority shareholder of Regal, which owns 82.65%, is Pelidona Services Limited (Cyprus) from Smart-Holding Group of Vadim Novinsky. Another 6.95% stake is held by Pope Asset Management.
