Preliminary Results of the Wressle-1 Exploration Well

2 September 2014

Egdon Resources plc (AIM:EDR) is pleased to announce the preliminary results from drilling of the Wressle-1 conventional exploration well located to the East of Scunthorpe. 

The Wressle-1 well was spudded on 18 July 2014 and on 23 August 2014 reached a total depth (TD) of 2240 metres measured depth (MD) (1814 metres true vertical depth below OS datum (TVDSS)).  Elevated mud gas readings were observed over large parts of the interval from the top of the Penistone Flags reservoir target (1831.5 metres MD) to TD.

The well was logged using measurement whilst drilling (MWD) logging tools run on the drill string.  Preliminary petrophysical evaluation of the log data has indicated the presence of potential hydrocarbon pay in three main intervals;

  • Penistone Flags – up to 19.8 metres measured thickness (15.9 metres vertical thickness)
  • Wingfield Flags – up to 5.64 metres measured thickness (5.1 metres vertical thickness)
  • Ashover Grit – up to 6.1 metres measured thickness (5.8 metres vertical thickness)

The well is currently being completed with a 4 ½” liner to enable selective and sequential testing of these intervals as part of an extended well test, for which planning consent has already been received.  These test operations, which will be designed to determine the flow rates, hydrocarbon type and hence commerciality of the Wressle-1 well, will be undertaken using a work-over rig and are expected to commence during October 2014.

Further updates will be given as these operations progress.

The interests in the Wressle-1 well are:

Egdon Resources U.K. Limited 25.00% (Operator)
Celtique Energie Petroleum Limited 33.33%
Europa Oil & Gas Limited 33.34%
Union Jack Oil plc 8.33%

Commenting on the results Mark Abbott, Managing Director of Egdon said:

“We are very encouraged by the preliminary evaluation of Wressle-1- our first exploration well in the East Midlands Basin – with interpretation of potential hydrocarbon pay of over 30 metres thickness (measured) in three discrete reservoir intervals. Our attention now moves to designing and delivering a testing programme for these intervals to determine the potential for a commercial discovery and we look forward to updating shareholders once these operations commence.”