Egdon is pleased to announce the following developments:

• Subscription agreed to raise approximately £3m (gross), by the issue of 22,222,222 Ordinary Shares at 13.5p per share to HEYCO International, Inc. (“HEYCO International”), with shares expected to be admitted to trading on AIM on 11 November 2016.
• HEYCO International is an existing shareholder of Egdon and is a wholly owned subsidiary of HEYCO Energy Group, Inc., a company with significant experience in unconventional exploration and production.
  • Open Offer to be made as soon as practicable to all Qualifying Shareholders to raise up to a further £2.06m (gross) by the issue of up to 15,227,843 shares at 13.5p per share.

Mark Abbott, Managing Director of Egdon, commented:

“We are delighted to have strengthened our balance sheet by securing this strategic funding from HEYCO International, an existing shareholder with extensive knowledge and experience of exploration and production of unconventional hydrocarbons.   We are pleased that George Yates, the highly respected President of HEYCO International, has provided such positive support for our business model.”

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Egdon Resources plc (AIM: EDR), a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, today announces its audited results for the year ended 31 July 2016. (more…)

Egdon Resources plc (AIM:EDR) is pleased to announce the results of an independent assessment prepared by ERC Equipoise Ltd (“ERCE” or “Competent Person”) in relation to certain UK Onshore Licences in which Egdon holds an interest. (more…)

Egdon Resources plc (AIM:EDR) is pleased to announce the acquisition of additional interests in two 14^th Round licences in the Company’s East Midlands core area.

Egdon will materially increase its interests in two of its recently announced Egdon operated 14^th Round awards, PEDL334 and PEDL306 via an assignment of interests from Celtique Energie Petroleum Limited (“Celtique”) at no cost.  These transactions will add a total of 14,428 net acres (58 km²) to Egdon’s licence holdings.

East Midlands – Humber Basin (more…)

Egdon Resources plc (AIM:EDR) announces that its Preliminary Results for the year ended 31 July 2016 will be announced on Tuesday, 1 November 2016.

An analyst meeting will be held at 9.30am on 1 November 2016 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.

View or Download TR1 – Notification of Major Interest in Shares

Egdon Resources plc (AIM:EDR) notes the announcement made after market close yesterday by operator IGas Energy plc (“IGas”) in relation to the decision of Nottinghamshire County Council’s Planning and Licensing Committee in respect of the Springs Road planning application. Egdon holds a 14.5% interest in PEDL140 where the proposed wells are located.

The IGas statement reads as follows;

“IGas Energy plc (“IGas”), one of the leading producers of hydrocarbons onshore Britain, notes that Nottinghamshire County Council has deferred its decision on the IGas planning application for exploration at Springs Road in order to consider a late legal representation. The meeting is now expected to reconvene on 15 November 2016.”

Egdon Resources plc (AIM:EDR) is pleased to confirm that the Oil & Gas Authority has formally issued the Company with nine new Petroleum Exploration and Development Licences (“PEDLs”) arising from the UK 14th Onshore Oil and Gas Licensing Round as previously advised. The new licences, covering a total of 18 UK National Grid blocks and part blocks with a total area of approximately 1,141 square kilometres (281,979 acres), were originally offered in two tranches in 2015.

The licences are located in the East Midlands Petroleum Province and the Cleveland Basin as detailed below and expand the Company’s acreage and opportunity base within these two core areas providing a mix of new conventional and unconventional resource opportunities.

East Midlands – Gainsborough Trough (more…)

Egdon Resources plc (AIM:EDR) is pleased to announce the results of a Competent Person’s Report (“CPR”) prepared by ERC Equipoise Ltd (“ERCE” or “Competent Person”) in relation to UK Onshore (Lincolnshire) licences PEDL180 and PEDL182 in both of which Egdon is operator and holds a 25.00% interest. ERCE has made independent estimates of Reserves and Contingent and Prospective oil and gas Resources that can be ascribed to the 2014 Wressle-1 discovery and the Broughton North Prospect within the licences.

ERCE’s letter to Egdon’s Board of Directors summarising the findings of the CPR has been published on the Company’s website (www.egdon-resources.com).

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As a result of the exercise of share options by an employee, Egdon Resources plc (AIM:EDR) has today issued 77,457 New Ordinary Shares of 1p each. Following this the Company’s issued ordinary share capital will be 221,423,268 ordinary shares.

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