Regal Petroleum Jumps on Reports Shell to Bid $1.2 Billion
By Stephen Cunningham
Oct. 3 (Bloomberg) — Regal Petroleum Plc, a U.K.-based explorer with assets in Ukraine, jumped the most in more than 2 1/2 years in London trading on a report that Royal Dutch Shell Plc plans a $1.2 billion takeover bid.
Regal surged as much as 31 pence, or 37.35 percent, to 114 pence as of 8:24 a.m. local time. Before today, the shares had slumped 45 percent this year. The Daily Telegraph reported today that Shell, which unsuccessfully tried to buy Regal’s Ukrainian assets last year, has written to the company with a proposal of 300 pence a share.
A Regal spokesman said today the company had seen no such letter, adding it is more than capable of delivering shareholder value independently. Regal has received an inquiry from Shell as to whether it would be prepared to share some of its new rigs in Ukraine at some time, he said. Shell spokeswoman Olga Gorodilina declined to comment on the report.
Regal Chief Executive Officer David Greer said last week the company will post a profit in the first half of 2010. The London-based company reported a narrower first-half loss last week on higher sales of gas and condensate. It has proven and probable reserves of 169 million barrels of oil equivalent.
Shell, Europe’s biggest oil company, ended an agreement to pay $410 million for Regal’s two Ukrainian gas fields last November after the appointment of Greer, a former Shell executive, as CEO.
Regal’s share price has suffered from difficulties faced by other operators in Ukraine, such as Cadogan Petroleum Plc, which is embroiled in a legal dispute over licenses. Regal has spent “a lot of time” developing relations with Ukrainian government agencies, Greer said Sept. 26.
To contact the reporter on this story: Stephen Cunningham in London at[email protected]
Last Updated: October 3, 2008 03:25 EDT
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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