EDR.L Regulatory News (EDR)

27 Nov 2007 09:49

Egdon Resources PLC27 November 2007 27 November 2007 For Immediate Release EGDON RESOURCES PLC ("EGDON" or "the Company") Commencement of drilling operations at 42/27a-3 well Egdon Resources Plc (AIM:EDR) is pleased to announce the commencement ofdrilling operations at the 42/27a-3 exploration well located in RWE Dea UKLimited operated licence P.1054 which covers block 42/27a. Egdon holds a 10%interest in the well. Drilling operations commenced at 16.36 hours on the 21 November 2007. The 42/27a-3 well is located some 20 kilometres east-south-east of Flamborough Head.The well will test the Tees Prospect, a Lower Permian Leman Sandstone structuralclosure mapped on proprietary 3D seismic data. The well will be drilled to aplanned total depth of around 3210 metres and will take around 54 days to drill. For further information please contact: Egdon Resources PlcMark Abbott, Joint Managing Director 01256 702 292Andrew Hindle, Joint Managing Director 0208 332 1200 Buchanan CommunicationsBen Willey 020 7466 5000Nicholas Melson Seymour PierceJonathan Wright 020 7107 8000 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 has developed two distinctive businesses; an oil and gas explorationand production business which has a portfolio of twenty exploration licences,and a gas storage business initially focused on the development of a major saltcavern gas storage facility on Portland, Dorset. Egdon plans to demerge the two businesses in January 2008. 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