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Egdon Resources Regulatory News (EDR)



Regulatory News for Egdon Resources (EDR)


Share Price: 4.50Bid: 4.30Ask: 4.70Change: 0.00 (0.00%)No Movement on Egdon Resources
Spread: 0.40Spread as %: 9.30%Open: 4.50High: 4.50Low: 4.50Yesterday’s Close: 4.50





PEDL 143 Transfer of Operatorship

Thu, 14th Mar 2019 07:00

RNS Number : 8092S
Egdon Resources PLC
14 March 2019

14 March 2019

EGDON RESOURCES PLC

("Egdon" or "the Company")

PEDL 143 Transfer of Operatorship

Egdon Resources plc notes the announcement made this morning by Europa Oil & Gas (Holdings) plc, ("Europa") on behalf of the operator of the Holmwood Licence PEDL143 (in which Egdon holds an 18.4% interest) that it is in the process of transferring its operatorship of UK onshore licence PEDL143 to UK Oil & Gas Investments plc ('UKOG').

The Europa release stated;

"Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that it is in the process of transferring its operatorship of UK onshore licence PEDL 143 ('the Licence') to UK Oil & Gas Investments plc ('UKOG'). Europa will continue to hold a 20% interest in the Licence, which is located in the Weald Basin, Surrey, alongside UKOG (40%), Egdon Resources plc (18.4%), Angus Energy plc (12.5%), Union Jack Oil plc (7.5%) and Altwood Petroleum (1.6%).

The decision to transfer operatorship of PEDL 143 is based on Europa's focus on its high impact portfolio of exploration licences in Atlantic Ireland, its existing producing assets onshore UK, and the Company's pursuit of new ventures in its chosen areas of focus, specifically the Atlantic seaboard, North Africa and NW Europe.

With its operational activities centred on the Weald Basin, the Company believes UKOG's direct experience with, and technical knowledge of the Portland and Kimmeridge plays at the nearby Horse Hill discovery, will help inform a forward plan for the Licence.

The transfer of PEDL143 operatorship to UKOG is subject to Oil and Gas Authority consent."

For further information please contact:

Egdon Resources plc

Mark Abbott, Martin Durham 01256 702 292

Buchanan

Ben Romney, Chris Judd 020 7466 5000

Nominated Adviser and Broker - Cantor Fitzgerald Europe

David Porter/Nick Tulloch (Corporate Finance) 020 7894 7000

Caspar Shand Kydd (Sales)

Joint Broker - VSA Capital Limited

Andrew Monk (Corporate Broking) 020 3005 5000

Andrew Raca (Corporate Finance)

Notes to Editors:

Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company focused on onshore exploration and production in the hydrocarbon-producing basins of the UK.

Egdon holds interests in 44 licences in the UK and has an active programme of exploration, appraisal and development within its portfolio of oil and gas assets. Egdon is an approved operator in the UK.

Egdon was formed in 1997 and listed on AIM in December 2004.

Qualified Person Review

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, this release has been reviewed by Mark Abbott, Managing Director of Egdon, who is a geoscientist with over 30 years' experience and is a member of the Petroleum Exploration Society of Great Britain and a Fellow of the Geological Society. Mr Abbott has consented to the inclusion of the technical information in this release in the form and context in which it appears.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCCKNDDCBKDBND


Related Shares:
(EDR)




DateSourceHeadlineCategory
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04-Jun-19 07:00RNSOpen Offer ResultsCompany Announcement - General
03-Jun-19 12:30RNSResult of General MeetingResults and Trading Reports
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15-Apr-19 07:00RNSBoard ChangesExecutive Changes
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28-Mar-19 07:00RNSSprings Road-1 Reaches Total DepthCompany Announcement - General
14-Mar-19 07:00RNSPEDL 143 Transfer of OperatorshipCompany Announcement - General
11-Mar-19 07:00RNSSprings Road-1 Operational UpdateCompany Announcement - General
04-Mar-19 07:00RNSOperations UpdateResults and Trading Reports
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06-Dec-18 13:50RNSCorrection: Results of Annual General MeetingResults and Trading Reports
06-Dec-18 13:33RNSResults of Annual General MeetingResults and Trading Reports
06-Dec-18 11:30RNSBiscathorpe UpdateCompany Announcement - General
03-Dec-18 07:00RNSCeres Production UpdateResults and Trading Reports
28-Nov-18 16:15RNSWressle Planning Consent RefusedCompany Announcement - General
22-Nov-18 07:00RNSWressle Recommended for Approval by PlannersCompany Announcement - General
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