RE: RE: RE: Lucky you are right./Thanks"The Company further announces that it has received a proposal from and has granted an option to EuroGas, Inc., a Utah company with offices at 14 Wall Street, New York, to acquire all of Regent's interest in McCallan. Pursuant to the terms of the Agreement, for EuroGas to earn its option it must issue to Regent 10,000,000 shares in the capital of EuroGas on signing, which have been received, pay Regent a total of $3,000,000 in cash in three tranches, $1,000,000 on or before the date 5 months from acceptance for filing of the Agreement by the TSX Venture Exchange, $1,000,000 on or before March 31, 2009 and $1,000,000 on or before September 30, 2009, and have Regent granted an overriding royalty of 1% of all gross proceeds received by McCallan's subsidiaries from the sale of oil, natural gas and coal bed methane from the concessions they hold. Should EuroGas, Inc. fail to satisfy the requirements to exercise the option, Regent is entitled to keep any shares or cash received from EuroGas, Inc. to that point. On exercise of the option by EuroGas, Regent will assign, and Eurogas will assume, Regent's interest in all of the agreements entered into with the principal shareholder of McCallan with respect to the purchase of the shares of McCallan."