Egdon Resources plc (AIM:EDR) is pleased to announce the completion of the Farm-out Agreement with Total E&P UK Limited in respect of UK Onshore Petroleum Exploration and Development Licences PEDL139 and PEDL140.
As a consequence of the various agreements between the parties, Egdon will receive $600,000 (ca. £365,000) in cash following completion.
The interests in PEDL139/140 are:
| Total E&P UK Limited | : 40.0% |
| GP Energy Limited (a subsidiary of Dart Energy Europe Limited) | : 17.5% |
| Egdon Resources U.K. Limited | : 14.5% |
| Island Gas Limited | : 14.5% |
| eCORP Oil & Gas UK Limited | : 13.5% |