Wressle-1 Commencement of Extended Well Test

18 June 2015

Egdon Resources plc (AIM:EDR) is pleased to announce the commencement of an Extended Well Test (“EWT”) at the Wressle-1 oil and gas discovery in licence PEDL180, located to the east of Scunthorpe, where Egdon operates with a 25% interest.

During initial testing, the Wressle-1 well produced oil and gas from three discrete reservoir intervals, the Ashover Grit, the Wingfield Flags, and the Penistone Flags as previously reported.  At the end of those test operations, a completion was installed in the well to cater for a subsequent pumped EWT over the oil productive zones in the Ashover Grit and the Penistone Flags.

Surface facilities and other equipment required  for the EWT including  a beam pump (“nodding donkey”), down-hole pump, and pump rods have now been installed.

The EWT will focus first on the Ashover Grit , which will be tested  for up to 28 days to determine production rates under pumped conditions. During February this zone flowed 80 barrels of oil per day (“bopd”) and 47 thousand cubic feet of gas per day during a 16 hour main flow period.  The oil is of good quality with a gravity of 39-40° API.

The Ashover Grit will then be isolated and the oil leg in the Penistone Flags tested for up to 28 days, again to determine production rates under pumped conditions

We will inform shareholders of progress at key points during the EWT, with the first update anticipated to be the results of the pumped testing of of the Ashover Grit.

Commenting on the commencement of the EWT at Wressle, Mark Abbott Managing Director of Egdon Resources said;

“The earlier  testing of the Wressle-1 discovery in Q1 2015 was very successful with combined production rates of 710 barrels of oil equivalent per day from the four zones tested.

We now look forward to the results of this EWT programme which will provide further valuable information on the Ashover Grit and Penistone Flags reservoirs and enable us to determine commerciality and optimise potential field development and monetisation options for the Wressle discovery.”