LONDON (ShareCast) - (Sharecast News) - Oil and gas exploration and production company Regal Petroleum announced the spudding of the SV-54 well at its wholly-owned and operated Mekhediviska-Golotvshinska and Svyrydivske gas and condensate fields in Ukraine on Thursday.
The AIM-traded firm said the well had a target depth of 5,320 metres, with drilling operations scheduled to be completed by the end of the second quarter of 2020, and, subject to successful testing, production hook-up during the third quarter of 2020.

"The well is a development well, with its primary targets being the B-22 and B-23 horizons in the Visean formation," the Regal board explained in its statement.

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