KIEV, Feb. 3 - Britain's Regal Petroleum Plc. may file a suit with a European court to demand compensation from Ukraine for losses caused by cancellation of the company's license to develop two gas condensate fields.

Regal Executive director Rex Gaisford told reported Friday the Ukrainian court ruling damaged the reputation of Regal Petroleum and led to significant financial losses. He said that the company's lawyers are currently working on the suit in London, Interfax-Ukraine reported.