The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEDR.L Regulatory 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

Award of Offshore Licence

4 Apr 2013 09:36

RNS Number : 5607B
Egdon Resources PLC
04 April 2013
 



 

 

4 April 2013

EGDON RESOURCES PLC

("Egdon" or "the Company")

 

Award of Offshore Licence

 

Egdon Resources plc (AIM:EDR) is pleased to announce the award by the Department of Energy & Climate Change of a licence covering offshore blocks 41/18 and 41/19 located adjacent to the North Yorkshire coast. The licence, awarded as a result of 26th UK Seaward Licensing Round, will be a Traditional Licence with Egdon Resources U.K. Limited holding 100% interest and Operatorship.

Only one well has previously been drilled in the licence area. The 41/18-1 (A339/1-2) well was drilled by Total in 1966 and was one of the earliest wells to discover hydrocarbons in the North Sea. Following acidisation, the well tested gas at rates of up to 2.5 million cubic feet of gas per day from fractured Upper Permian "Hauptdolomit" carbonates. Egdon's preliminary evaluation indicates the potential for the drilled structure to contain substantial Prospective Resources in the range of 40 to 272 billion cubic feet of gas ("bcf"), with a mid-case of 150 bcf.

Egdon intends to re-evaluate this gas discovery through a work programme which will include the acquisition, reprocessing and interpretation of existing 2D seismic data over the blocks together with detailed analysis of the previous well results and regional geological evaluation. Contingent upon confirmation of the size of the prospect and the potential resource, Egdon intends to seek consent to drill a well from an onshore location to appraise the discovery made by the original 1966 well.

Commenting on the licence award Mark Abbott, Managing Director of Egdon said:

 

"We are delighted to have been awarded this 26th Round licence over these high potential blocks in one of our focus areas. We believe that our proposed approach of appraising and potentially developing this prospect via an onshore to offshore well could unlock the value in one of the earliest North Sea gas discoveries and we look forward to commencing our detailed technical evaluation."

 

 

For further information please contact:

 

Egdon Resources plc

Mark Abbott, Jerry Field 01256 702292

 

Buchanan

Richard Darby, Gabriella Clinkard, Tom Hufton 020 7466 5000

 

Nominated Adviser and Broker - Cantor Fitzgerald Europe

David Porter, Rick Thompson (Corporate Finance) 020 7107 8000

Richard Redmayne (Corporate Broking)

 

Notes to Editors:

 

Egdon Resources plc

 

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

 

Egdon currently holds interests in twenty nine licences in the UK and France and has an active programme of exploration, appraisal and development within its balanced portfolio of oil and gas assets. Egdon is an approved operator in both the UK and France.

 

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

 

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained in this announcement has been reviewed and signed off by the Managing Director of Egdon Resources plc Mark Abbott, a Geoscientist with over 26 years' experience.

 

Evaluation of potential recoverable hydrocarbons has been assessed in accordance with 2007 Petroleum Resources Management System prepared by the Oil and Gas Reserves Committee of the Society of Petroleum Engineers (SPE) and reviewed and jointly sponsored by the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Evaluation Engineers (SPEE).

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCLIFVTSEISIIV
Date   Source Headline
26th Apr 20227:00 amRNSInterim Results
22nd Apr 20227:00 amRNSNotice of Interim Results
14th Apr 20227:00 amRNSTotal Voting Rights
13th Apr 20227:00 amRNSSubmission of Biscathorpe Planning Appeal
6th Apr 20222:00 pmRNSPrice Monitoring Extension
6th Apr 20227:00 amRNSGovernment Announcement on Shale Gas
14th Mar 202212:46 pmRNSNorth Kelsey Planning Update
10th Mar 20227:00 amRNSGrant of Options
8th Mar 20224:41 pmRNSSecond Price Monitoring Extn
8th Mar 20224:35 pmRNSPrice Monitoring Extension
8th Mar 20222:05 pmRNSSecond Price Monitoring Extn
8th Mar 20222:00 pmRNSPrice Monitoring Extension
8th Mar 202211:06 amRNSSecond Price Monitoring Extn
8th Mar 202211:00 amRNSPrice Monitoring Extension
18th Feb 20224:41 pmRNSSecond Price Monitoring Extn
18th Feb 20224:36 pmRNSPrice Monitoring Extension
17th Feb 20224:41 pmRNSSecond Price Monitoring Extn
17th Feb 20224:35 pmRNSPrice Monitoring Extension
31st Jan 202211:30 amRNSNotification of Major Holdings
25th Jan 20227:00 amRNSBiscathorpe Planning Appeal Update
19th Jan 202211:06 amRNSSecond Price Monitoring Extn
19th Jan 202211:00 amRNSPrice Monitoring Extension
19th Jan 20227:00 amRNSWressle – Downhole Pressure Data Analysis
16th Dec 202112:00 pmRNSResults of Annual General Meeting
16th Dec 20217:00 amRNSPre-AGM Financial and Operational Update
3rd Nov 20217:00 amRNSPreliminary Results
1st Nov 20214:23 pmRNSBiscathorpe Planning Consent Refused
19th Oct 202111:05 amRNSSecond Price Monitoring Extn
19th Oct 202111:00 amRNSPrice Monitoring Extension
21st Sep 20217:00 amRNSOperational Update
24th Aug 20217:00 amRNSWressle Update
29th Jul 20217:00 amRNSWressle Operational Update
20th Jul 202110:40 amRNSResults of General Meeting
19th Jul 20217:00 amRNSBiscathorpe Update
13th Jul 202110:21 amRNSNotification of Major Holdings
30th Jun 20217:00 amRNSEquity Fundraising
29th Jun 20213:00 pmRNSWressle Update
26th May 20217:00 amRNSWressle Update – Oil Storage Consent
18th May 202111:00 amRNSPrice Monitoring Extension
18th May 20219:00 amRNSPrice Monitoring Extension
18th May 20217:00 amRNSWressle Development Update
27th Apr 202110:39 amRNSNotification of Major Holdings
27th Apr 20217:00 amRNSInterim Results
20th Apr 20213:02 pmRNSNotice of Results
1st Mar 20217:00 amRNSBiscathorpe Project Update
5th Feb 20211:07 pmRNSResults of AGM
1st Feb 20217:00 amRNSWressle Oil Field: Commencement of Oil Flow
22nd Jan 202111:28 amRNSResults of General Meeting
11th Jan 20217:00 amRNSWressle Operations Update
6th Jan 20217:00 amRNSConvertible loan notes and notice of GM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

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.