Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEDR.L Share News (EDR)

  • There is currently no data for EDR

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Egdon shares jump on government's review of UK shale

Wed, 06th Apr 2022 12:52

(Sharecast News) - Egdon Resources shares jumped on Wednesday morning, as it responded to the UK government's review of shale gas by the British Geological Survey.

The AIM-traded firm holds a "significant portfolio" of shale gas licences, covering an area of 151,742 net acres, with estimated mean volumes of undiscovered gas in place of 37.6 trillion cubic feet.

Its primary focus is the Gainsborough Trough, where the results from the 2019 Springs Road-1 well highlighted a "potentially world-class resource" in the Gainsborough Shale.

"This review is a logical and welcome move by the government," said managing director Mark Abbott.

"Gas heats over 80% of our homes and generates around 40% of our electricity, and will continue to be an important part of our energy mix out to 2050 and beyond.

"UK shale gas could be a strategically important national resource with the potential to reduce the UK's growing reliance on gas imports, whilst reducing gas prices, improving our balance of payments, increasing tax revenues and creating skilled jobs whilst importantly also reducing the carbon footprint of the gas we all use."

At 1230 BST, shares in Egdon Resources were up 12.16% at 4.15p.

More News
18 May 2015 09:08

Union Jack Oil Annual Loss Narrows As It Looks For New UK Projects

Read more
21 Apr 2015 08:35

Egdon Resources Swings To First Half Loss, Production Guidance Cut

Read more
27 Mar 2015 12:25

Egdon excited after Wressle's Penistone tests show evidence of column

Egdon Resources said the results of flow tests at Penistone Flags, its 25% owned Wressle-1 oil and gas discovery near Scunthorpe indicated the presence of an oil column below the gas zone. Perforation tests at Zone 3a in the Penistone Flags produced "good quality oil" at a flow that equated to appro

Read more
27 Mar 2015 08:20

Egdon, Europa, Union Jack Discover More Oil At Wressle Discovery

Read more
23 Mar 2015 12:00

LONDON MIDDAY BRIEFING: RBS Kicks Off Further Stake Sale In Citizens

Read more
23 Mar 2015 11:22

UK WINNERS & LOSERS: Broker Ratings Changes Drive FTSE 100 Movers

Read more
23 Mar 2015 08:17

LONDON MORNING BRIEFING: Shares Open Softly After Friday's Record

Read more
23 Mar 2015 07:34

Europa Oil, Egdon Resources To Plug, Abandon Kiln Lane-1 Well

Read more
16 Mar 2015 15:19

Egdon Resources Says Planning Permission Granted For Biscathorpe-2 Well

Read more
11 Mar 2015 10:55

Alkane Says 2015 Has Started Well, As Gains Offset Revenue Decline

Read more
3 Mar 2015 09:45

Egdon Reports Solid Test Results From Wressle-1 Well In Lincolnshire

Read more
23 Feb 2015 08:33

Europa Oil & Gas Starts Drilling At Kiln Lane In Lincolnshire

Read more
19 Feb 2015 09:12

Egdon, Europa, Union Jack Report "Encouraging" Flow Rate From Wressle

Read more
9 Feb 2015 08:36

Egdon, Europa, Union Jack Achieve Encouraging Flow Rates At Wressle-1

Read more
2 Feb 2015 08:24

UK Oil & Gas Investments Ups Stakes In Two UK Fields In Egdon Deal

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.