On 24 March 2020, Smart Energy announced that its subsidiary Regal Petroleum plc acquired a small operator in Poltava Oblast (Dnieper-Donets Basin). Arkona Gaz-Energiya LLC has a 20-year license (valid until 2037) for exploration and development of the Svystunkivsko-Chervonolutske block. The deal value is estimated at USD 8.63 million which will be paid in three tranches.  The Svystunkivsko-Chervonolutske license covers 97 sq km some 15 km east of the Svyrydivske field developed by Regal. The contract is comprised of two areas. The southern block is almost unexplored with just one well drilled in the north-eastern part. The northern block encompasses the Svystunkivske and Chervonolutske gas/condensate discoveries with combined 2P reserves estimated at 31 Bcf of gas and 0.5 MMbbl of condensate. Four exploratory wells have been drilled in the northern section. The discovered pools belong to clastic reservoirs of the Visean section at a depth ranging from 4,700 m to 5,700 m. Combined 3P reserves of the discoveries are estimated at 21 MMboe.
Regal has agreed to pay US$8.63 MM in 3 tranches to local Arkona Gas-Energy to acquire its 20-yr rights to the 97-sq km, 2-block Svystunkivsko-Chervonolutske unit (+ gas-cond discoveries), located next to Regal's own Svyrydivske licence in Poltava (Dniepr-Donets Basin).