	bell petroleum bpsio regal to form plan bell petroleum services inc said it agreed to begin talks with regal international inc to form a plan of reorganization under which bell would become a subsidiary of regal the plan would be subject to bankruptcy court approval due to bell s status as a debtor in possesion under chapter the company s expect to file a plan by the end of may this agreement terminates litigation between the companies concerning previous attempts at a plan of reorganization bell is also free to continue talks with any third parties interested in an uisition it said reuter 
