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October 14, 2008


Shell not to proceed with MOU with Regal Petroleum

It I reported that Shell has decided not to proceed with a recently signed MoU for exclusive negotiations with Regal Petroleum plc and potential UD 410 million deal regarding Ukraine assets.

Shell in a statement said "Shell recently signed a MOU for exclusive negotiations with Regal Petroleum plc regarding Ukraine assets and we see from the new management's comments that they may have changed their thinking on this transaction.”