EDR.L Regulatory News (EDR)

20 Aug 2007 12:00

Egdon Resources PLC20 August 2007 Immediate Release 20 August 2007 EGDON RESOURCES PLC ("EGDON" or "THE COMPANY") Avington-3z Production Testing- Preliminary Results Egdon Resources Plc (AIM:EDR), the onshore UK focused energy company, notestoday's announcement by the operator Star Energy plc in relation to productiontesting operations on the Avington-3z well in the onshore UK licence PEDL070,where Egdon holds a 20% interest. Drilling operations at the Avington-3z well, which was drilled to a total depthof 2498 metres, were completed on 11th July 2007. Due to difficulties in installing the planned jet pump completion, the well hasbeen on free-flow production through a 14/64 inch choke since the 10th of Augustsince which time the well has been producing an average of of 470 barrels perday of 38 deg API oil with only minor traces of water. The well will be left on free-flow production until the jet pump is installed inthe near future. Commenting on current operations at Avington Mark Abbott, Joint ManagingDirector of Egdon said: "Although it is still in the early stages of the evaluation of Avington-3z, weare encouraged by the results to date. We await completion and testing of thewell with a jet-pump to give a further indication of the well's true commercialpotential." For further information please contact: Egdon Resources PlcMark Abbott, Joint Managing Director 01256 702 292Andrew Hindle, Joint Managing Director 0208 83321200 Buchanan CommunicationsBen Willey 020 7466 5000Nicholas Melson Seymour PierceJonathan Wright 020 7107 8000 Notes to Editors: Company Background Egdon is an established, UK-based energy company primarily focused on theonshore UK. Egdon also has exploration interests in the offshore UK and France.Egdon's shares are traded on the AIM market. The Company is developing two distinctive businesses: •An oil and gas exploration and production business which has a portfolio of twenty exploration licences containing identified oil and gas prospects ranging from discoveries under appraisal through to higher risk but higher reward "wild-cat" exploration prospects. •A gas storage business initially focused on the development of a major salt cavern gas storage facility on Portland, Dorset. Egdon plans to demerge the two businesses on or soon after 21 December 2007. In accordance with AIM rules - guidance for mining, oil and gas companies, theinformation contained in this announcement has been reviewed and signed off bythe Joint Managing Director of Egdon Resources Mark Abbott, a Geoscientist withover 21 years experience. This information is provided by RNS The company news service from the London Stock Exchange