Rosia Montana, 5 iunie 2005

 Stimati jurnalisti,

 Ziarul londonez 'Sunday Times' a publicat azi un important articol despre
Frank Vasile Timis, patronul companiei Regal Petroleum, care este investigat
in cadrul unei anchete impotriva crimei organizate. Articolul arata de
asemenea legatura dintre Timis si proiectul minier de la Rosia Montana.

 Poate fi accesat la:,,2095-1641179,00.html

 Speram ca informatiile vor fi de interest,

 Cu stima,

 Eugen David
Alburnus Maior
Rosia Montana, 5. June 2005

Dear Members of the press,

 The London-based 'Sunday Times' today features an main article on Frank
Vasile Timis, Regal Petroleums's boss, being investigated in an
organized-crime inquiry. Amongst others, the article also highlights the
link between Timis and the Rosia Montana gold mine development.

 It can be accessed on:,,2095-1641179,00.html

 We hope that the information is of interest and remain,

Yours sincerely,

 Eugen David
President Alburnus Maior
Strada Berk, Nr.361 Rosia Montana Judetul Alba
Tel/Fax: 0258 859 328 Mobil 0740 280 309


 The Sunday Times - Business,,2095-1641179,00.html

 June 05, 2005

 Regal boss named in Romanian organised-crime inquiry Paul Durman and Louise
Armitstead  REGAL PETROLEUM, the AIM-listed oil company reeling after a run
of bad news about the quality of its assets, is facing a fresh crisis. It
has emerged that chairman Frank Timis is under investigation by prosecutors
attached to Romania's supreme court, the High Court of Cassation and
Justice, as part of the country's crackdown on organised crime and drugs.

 Last week Regal's share price closed at 70½p, down from a high of 510p just
a few weeks ago. The company was forced to slash estimates of its
recoverable oil reserves in Greece by 70% while announcing a large increase
in losses to $13.7m (£7.5m).

 A month ago, Timis, who has two heroin convictions, was forced to admit
that the Greek field he had said could be holding up to a billion barrels of
oil was probably worthless. That came just weeks after Regal had tapped
investors for £45m.

 Documents seen by The Sunday Times show there is a continuing investigation
into Timis's business activities in Romania, where Regal has its main gas
interests. Romania is cracking down on corruption ahead of its bid to join
the European Union in 2007. Romania's Ministry for Public Affairs confirmed
the investigation.

 Timis is the subject of further inquiries under way in the Military Court
of Appeal in Bucharest and in the regional Court of Appeal in Alba-Iulia.

 The existence of the investigations into Timis's activities was
acknowledged in response to a freedom-of-information request submitted by
Alburnus Maior, the Romanian lobby group campaigning to stop a mine
development at Rosia Montana. This project, owned by a Canadian company
called Gabriel Resources, was responsible for establishing Timis's
reputation as a successful mining entrepreneur.

 Separately, in a confidential CV from 2004 seen by The Sunday Times, Timis
names the British government as a "strategic shareholder" in another of his
companies called the Africa Diamond Corporation. Timis said the company,
which has extensive assets in Sierra Leone, "may currently sustain a
valuation of over $750m". Africa Diamond Corporation is understood to be the
forerunner of the recently listed Sierra Leone Diamond Company in which
Timis owns a large stake.

 A spokesman for the Department for International Development told The
Sunday Times on Friday that it had not heard of the company.

 Sierra Leone Diamond Company is preparing to move out of the London offices
it shares with Regal and European Goldfields. Mike Jones of Canaccord
Capital Europe, the company's adviser said: "The company is making all the a
ppropriate steps to limit the fall-out of any comparisons with Regal. The
company is moving offices and restructuring the board."

 The unusual CV gives a colourful account of Timis's life and career. "The
early beginnings were not easy for Frank, and his story of a desperate
flight into the unknown and triumphant return takes some beating," it says -
a reference to his escape from Ceaucescu's Romania at the age of 16.

 "These days Frank is happy to wave the flag for the country in which he was
born," the CV continues, citing a large number of charitable activities,
including providing balls and transport to the Rosia Montana football team,
paying for the fireworks display on Romanian National Day, and financing the
building of the St Vasile monastery in Baia Borsa, "the land of his
ancestors". Timis's first name is Vasile. The CV also boasts Timis is "one
of the most successful entrepreneurial dealings (sic) with governments in
Australia, Canada, West Africa and South East Europe" and that "his business
contacts (in Romania) provide a valuable entrée to securing additional gas
sales contracts and gaining further development opportunities for Regal

 Timis also claims to have helped the Romanian Democratic party write new
mining laws in the late 1990s - laws of which he is one of the principal

 He claims to be "an important and active supporter of Romanian integration
into Nato and the European community. He was one of the main financial
sponsors of the Nato reunion in Bucharest in 2002".

 Timis did not respond to a request for comment.

"Let me know, that at least, she will try
Then she'll be a true love of mine"

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