Egdon Resources plc (AIM:EDR) is pleased to announce that it has reached agreement in respect of a farm-out of an interest in PEDL182 to Union Jack Oil PLC (“Union Jack”, AIM: UJO).

Licence PEDL182 is located in Lincolnshire to the immediate north of PEDL180. In May 2013, Union Jack farmed into the Wressle-1 exploration well and earned an 8.33% interest in PEDL180 and that part of the Wressle-1 discovery determined to extend into PEDL182. Under the terms of this new farm-out, Union Jack will earn an 8.33% interest in the remainder of PEDL182 beyond Wressle in return for paying 12.495% of the cost of a future exploration well to evaluate the Broughton North prospect together with associated back costs of £64,000.

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Egdon Resources plc (AIM:EDR), the UK-based exploration and production company with a primary focus on the hydrocarbon-producing basins of the onshore UK, announces its unaudited interim results for the six months ended 31 January 2016. (Read more…)

Egdon Resources plc (AIM:EDR) announces that its Interim Results for the six months ended 31 January 2016 will be released on Tuesday, 26 April 2016.

An analyst briefing will be held at 9.30am on 26 April 2016 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.

Egdon Resources plc (AIM:EDR) announces the completion of drilling operations at the Laughton-1 conventional exploration well in UK Onshore Licence PEDL209 located in Lincolnshire.

The Laughton-1 well was spudded on 12 February and has reached a total depth of 1,700m in line with the pre-drill prognosis. During drilling, the well recorded hydrocarbon shows from a number of potential reservoir sequences including the Kilburn Sandstone, Chatsworth Grit, Ashover Grit and Kinderscout Grit. The Silkstone Rock primary objective was poorly developed in the well. Analysis of the wireline log data indicates that the hydrocarbon saturations associated with the shows are not sufficiently encouraging to warrant testing.

The well is currently being plugged before the drilling rig is released from contract and in due course the wellsite will be fully restored to its original condition as agricultural land. (Read more…)

Egdon Resources plc (AIM:EDR) is pleased to announce the commencement of drilling operations at the Laughton-1 exploration well in UK Onshore Licence PEDL209 located in Lincolnshire.

The Laughton-1 well was spudded 12 February. The well will target a structural trap at a depth of over 1,500 metres defined on reprocessed two-dimensional seismic data. The Laughton Prospect has multiple conventional Carboniferous sandstone reservoir targets with the primary objective being the Silkstone Rock, an approximately 15 metre thick sandstone interval which is productive in the analogous Corringham Oil Field located five kilometres to the south-east. Two other potential reservoirs, the Kilburn Sandstone and the Wingfield Flags, will also be targeted by the well. The consolidated mean Prospective Resource volume for the three targets, is estimated by Egdon to be 1.3 million barrels of oil. (Read more…)