The Resolution gas discovery on licence P1929 is an early North Sea discovery made by Total in 1966.
Egdon was awarded Licence P1929 containing the Resolution discovery -then called the A Prospect -in April 2013 covering offshore blocks 41/18 and 41/19 located adjacent to the North Yorkshire coast. The licence, awarded as a result of 26th UK Seaward Licensing Round, is a Traditional Licence with Egdon Resources U.K. Limited currently holding a 30% non -operated interest having farmed out to Shell.
- In April 2019 we announced the results of a Competent Person’s Report (“CPR”) prepared by Schlumberger Oilfield UK PLC in relation to the Resolution gas discovery. Schlumberger has made independent estimates of mean Contingent Gas Resources of 231bcf that can be attributed to the Zechstein reservoir in the 1966 gas discovery made by Total in well 41/18-2 (UK). Dynamic reservoir modelling indicates the potential for gas flow rates between 17-22 MMscfd per well.
- The later Endeavour discovery tested gas at rates of 14.9 MMscfd (41/24-1) to 34.3 MMscfd (41/24-3) is a potential satellite development to Resolution with mean Prospective Resources of 18 bcf gas (Egdon’s estimate).
- In addition, exploration upside exists in the underlying Carboniferous (tight gas).
on 20 January 2020 we announced a Farm-In Agreement with Shell U.K. Limited. Shell has acquired a 70% working interest in Licences P1929 and P2304, and has been appointed as the licence operator