 The company hopes to eventually extract 300 tonnes of gold and 1600 tonnes of silver from the area but the project is currently on hold.Regal Petroleum, founded by Timiș in November 1996, was listed on the London Alternative Investment Market and owned some oil and gas resources in Romania and Ukraine.However, it became famous after the September 2003 acquisition of 60% of an oilfield located in Kavala, Greece.