Cabot Energy Regulatory News (CAB)

10 Feb 2006 10:30

Egdon Resources PLC10 February 2006 10 February 2006For immediate release EGDON RESOURCES PLC Avington Update Egdon Resources Plc ("Egdon" or "the Company") is pleased to announce that ithas been informed by Star Energy Plc, the Operator, that it intends to begindrilling the Avington-3 appraisal well early next week. The Company has a 20% interest in Avington which is situated in licence PEDL 070in Hampshire. The well is operated by Star with Egdon Resources Plc, Sterling Resources (UK)Ltd, YCI Resources Limited and Northern Petroleum (GB) Limited as partners. For further information please contact: Egdon resources Plc Mark Abbott, Joint Managing Director 01256 702292Andrew Hindle, Joint Managing Director Buchanan Communications Eric Burns 01943 883 990Ben Willey 020 7466 5000 Company Background Egdon is an established, UK-based energy company primarily focused on thehydrocarbon-producing basins of the onshore UK. Egdon also has explorationinterests in the offshore UK and France. Egdon was formed in 1997 by Dr Andrew Hindle and Mark Abbott. In December 2004,Egdon's shares commenced trading on AIM, having been previously traded on Ofexsince July 2000. The Company is developing two major business areas; an oil andgas exploration and production business which has a portfolio of twentyexploration licences containing identified oil and gas prospects ranging fromdiscoveries under appraisal through to higher risk but higher reward "wild cat"exploration prospects; and a gas storage business initially focused on thedevelopment of a salt cavern gas storage facility on the Isle of Portland,Dorset. This information is provided by RNS The company news service from the London Stock Exchange