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Egdon Resources Reports First Monthly Production From Ceres Gas Field

Mon, 03rd Dec 2018 09:07

LONDON (Alliance News) - Egdon Resources PLC on Monday reported its first full month of production from the Ceres gas field, located in the southern North Sea, following the installation of a new flowmeter.

Egdon shares were trading up 14% on Monday at 7.70 pence each.

Egdon holds a 10% interest in the Spirit Energy-operated Ceres field.

The oil & gas exploration company said net gas production during November averaged 1.16 million cubic feet per day. As a result Egdon expects net gas sales for November to be in excess of GBP235,000.

"We are pleased to report this production update from Ceres which represents a material step up in both production and cash flow for Egdon," said Managing Director Mark Abbott.

"The production from Ceres defines our strategy of maintaining a balanced portfolio of conventional production whilst also progressing our conventional exploration activity and our material unconventional acreage position," added Abbott.

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Egdon Resources Plc Completion Of Acquisition -2-

+------------------------------+-------------+--------+----------------------+ | 47/9c | SNS | Venture | 5% | Egdon Resources | | | | | | Europe Limited | +--------------+---------------+-------------+--------+--------

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Egdon Resources Plc Completion Of Acquisition

TIDMEDR TIDMEO. RNS Number : 0585Q Egdon Resources PLC 28 July 2010 ? 28 July 2010 For Immediate Release EGDON RESOURCES PLC ("Egdon" or "the Company") Completion of the Acquisition of Certain UK

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Egdon Resources Reports First Monthly Production From Ceres Gas Field

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