Regent Ventures Ltd RGVNF

McCallan News Release :-)

[curtisprod]

Tuesday, August 7, 2007, some of the very interesting information about the EuroGas Polska Joint Venture in Poland: ⇒ The Concession Blocks (pdf-file 7.0 MB) ⇒ The geological Region (pdf-file 2.2 MB) ⇒ 8 important Gas & Oil depots in the Region(pdf-file 1.2 MB) ⇒ The Working Plan 2007/2008 (pdf-file 132 KB) -------------------------------------------------------------------------------- EuroGas Poska sp. z o.o. and Polish Oil & Gas Company (POGC) and Aurelian Oil & Gas Ltd. sign the JOA On Friday, June 1, 2007, EuroGas Polska sp. z o.o., a wholly-owned subsidiary of McCallan Oil&Gas (UK) Ltd., together with Poland's National Oil&Gas Concern, Polish Oil&Gas (PGNiG) and Aurelian's wholly-owned Polish subsidiary Energia Bieszczady sp. z o.o. executed a Final JOINT OPERATION AGREEMENT (JOA) at PGNiG's Headquarters in Warsaw, Poland. Under the terms of the new JOA PGNiG will be the operator of the JOA holding a 51% working interest. Aurelian owns 25% of the JOA and EuroGas Polska 24%. As part of the agreement Aurelian has secured funding of EuroGas Polska's entire 24% Phase I working interest in the JOA (Seismic and the drilling of a 13.000 feet deep well). In return EuroGas Polska has transferred a 25% working interest in the JOA to Aurelian and has also given Aurelian a Right of First Refusal to acquire EuroGas Polska's 24% interest should EuroGas Polska wish to sell its remaining interest. The JOA will start immediate field operations with a large 2 D seismic program on the north-east flank of the concession block bordering Ukraine, where PGNiG has recently discovered one of Europe's largest onshore natural gas fields with a proven reserve of appr. 2.4 TCF, the size of which equals the total annual natural gas consumption of Germany or Japan. After finalization of the seismic program the JOA intends to commence drilling on or about October 2007." Jochen Tietze, Managing Director of EuroGas Polska sp. z o.o., comments: "We are delighted to be a partner with such reputable oil & gas companies as Poland's National Oil&Gas Concern Polish Oil&Gas and Aurelian Oil&Gas, a London based exploration and production company which is specializing on exploration and production in Eastern Europe. Especially the intimate local geological and technical knowledge and experience of Polish Oil & Gas, one of Eastern Europe's largest oil&gas concerns, in connection with its own recent discovery of the huge Przemysl natural gas field on the north-eastern flank of the concession area near the Ukrainian border makes us extremely excited about the potential to discover additional large hydrocarbon reserves on our concession blocks".