Pinchuk's companies not planning to make offer for Regal

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Feb. 10, 2011, 8:49 p.m. | Business — by Interfax-Ukraine
Ukrainian oil and gas holding company Geo-Alliance and Heamoor Limited (Cyprus), both controlled by Ukrainian businessman Victor Pinchuk, have said that they are not planning make an offer for the purchase of British oil and gas company Regal Petroleum plc with Ukrainian assets, reads a statement posted on the London Stock Exchange on Thursday. Pinchuk's companies continue to believe that a combination of Regal and Geo-Alliance via a reverse takeover structure, based on a fundamental analysis of the two companies, would offer Regal shareholders the potential of significantly greater value than that provided by the Energees Partial Cash Offer.
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Anonymous Feb. 10, 2011, 9:11 p.m.    

Well what a surprise, corrupt Ukraine again shows how to encourage

foreign investment. SBU working on its own agenda!

And you Mr President what are doing?

Nothing as usual just sitting pretty and adding to your retirement fund

with a little help from your Oilgarch financiers, shameful i hope the

Ukraine people wake up before it is too late.

I would urge and investor to steer clear of thee Ukraine and its corrupt and dishonest Gouvernment and is shady Ukranian businnes people.

Open message to the President of the Ukraine,

Dear Sir,

I am a shareholder of a company called Regal Petoleum Ltd AiM listed british company

with gas and oil exploaration licence in the Ukraine, since the begining of this year the MEP

contacted Regal about certain enviromental issues which needed resolving, then i March

they advised the company to stop all work and resolve the related issues.

The work has since been done by regal and verbal statement was made to the company

saying issues have been resolved but the SBU has confiscated documents which the WPE

say they need to make the official statement? Can this be true ?

Why do you allow such things to happen, you say you want foreign investment in your country and open market with the EU and yet you cannot control your ministers.

I ask you to contact the SBU and the MEP minister and ask them to explain there actions, it is clear to all who are familiar with the situation certain Ukaine individuals have created this "problem" so as to buy regal and its assets in the Ukraine at an unfair price as they say if you will not sell us your company we will see that you never get the licence back.

Legally Regal hold the licence and has invested 100's of millions in the Ukraine and given

people employment, is this the way you want the rest of theworld to see the Ukriane, shady deals, ministers who take orders from wealthy private individuals who manipulate the system

for there own personal agenda!!

Mr President i ask you, no I demand you speak to the ministers and SBU people responsible and ask them what they are doing.

Who is running the country, are you not the President please take action.

I will be posting this message all over the internet in the hope you will see it.

Many thanks

Regal Action Group.

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