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. (Read 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. (Read 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 (Read 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.