Egdon Resources plc (AIM:EDR) is pleased to announce the completion of the acquisition of a 3D seismic survey to the south and east of Dorchester in the County of Dorset, onshore U.K.
The survey, which covers parts of Petroleum Exploration and Production Licence PEDL237 and Production Licence PL090, was acquired by Tesla Exploration International Ltd. and comprised the acquisition of a total of 2,631 vibroseis source points covering an area of approximately 68.5 square kilometres.
The survey was designed to provide detailed structural data over a number of leads and prospects at various reservoir levels including the Sherwood Sandstone, the primary reservoir at the nearby Wytch Farm oilfield. The main focus of the survey was over the area of the Casterbridge and Broadmayne structures where, based on previous 2D seismic data, Egdon evaluated combined gross Best Estimate Prospective Resources of around 50 million barrels of oil.
The acquired data will now be processed by a specialist contractor to generate a 3D image of the geological structure of the area to enable the licence group to identify locations for possible future exploration drilling.
The Licence Interests in PL090 (excluding Waddock Cross) and PEDL237 are;
|Egdon Resources U.K. Limited (Operator)||38.7500%|
|First Oil Expro Limited||22.6042%|
|Aurora Exploration Limited||16.1458%|
|Corfe Energy Limited||12.5000%|
|Dorset Exploration Limited (wholly owned by Egdon)||10.0000%|
Commenting on the survey Jerry Field, Exploration Director of Egdon said:
“I would like to thank all the personnel of Tesla Exploration for their professionalism and commitment in undertaking the survey in an efficient, safe and considerate manner.
We look forward to receipt of the final processed data volume early in 2014 which will enable us to develop our future exploration plans on this highly prospective oil trend to the west of Wytch Farm, Western Europe’s largest onshore oilfield.
After a period of limited activity by Egdon in Dorset, the recently announced commencement of production at Waddock Cross and this seismic survey illustrate our commitment to exploring the Wessex Basin, an area which has the potential to drive near-term shareholder value.”