Keddington-5 Development Well Suspended for Future Production Testing

8 February 2016

Egdon Resources plc (AIM:EDR) is pleased to provide an operational update on the Keddington-5 (KD5) development well. KD5 was spudded on the 20 January 2016 and on 1 February 2016 reached total depth (TD) of 2,433 metres measured depth, (2,201 metres true vertical depth below Ordnance Survey Datum).

During the course of drilling, elevated gas readings – indicative of the presence of hydrocarbons were recorded from a gross interval of 141 metres, containing 62 metres of net sand.

KD5 development well has been suspended with a completion string that will enable production flow testing of the reservoir with a traditional beam pump in due course.

The Keddington Field interests are as follows:

Egdon Resources U.K. Limited 45% (Operator)
Terrain Energy Limited 35%
Nautical Petroleum Limited* 10%
Union Jack Oil plc 10%

*Nautical Petroleum Ltd is a 100% wholly owned subsidiary of Cairn Energy PLC


Commenting on the completion of operations at Keddington-5, Mark Abbott, Managing Director of Egdon, said:

“We are pleased to report the conclusion of the KD5 drilling operation which was drilled and completed within budget. Following release of the drilling rig and reinstatement of surface facilities, the well will be tested to establish the potential production.”