5 Feb 2010 14:18
5 February 2010
EGDON RESOURCES PLC
("Egdon" or "the Company")
Kirklington-3 drilling operations
The Directors of Egdon Resources plc (AIM:EDR) are pleased to provide an update on operations at the Kirklington well site in its Nottinghamshire licence PEDL203.
The Kirklington oil field was discovered by BP in 1985 with the drilling of the Kirklington-2 well and has two oil bearing intervals in the Sub-Alton Crawshaw and the Chatsworth Grit reservoirs at depths of around 600 metres relative to mean sea level. The Kirklington oil field had been shut-in since 2004 prior to Egdon restarting production on 28 July 2009.
The Kirklington-3 well will be a sidetrack of the existing well and is targeting an area interpreted as containing un-drained oil up-dip to the north and west of the existing well through the drilling of a 300 metre horizontal interval in the primary Chatsworth Grit producing interval.
The BDF28 rig started operations at the Kirklington site on 31 January 2010. The plugging-back of the existing well has now been completed and the drilling of the sidetrack commenced today from a kick-off depth of 510 metres. The well will to be drilled directionally to a total measured depth of approximately 980 metres.
The well is expected to be completed for pumped production using the existing surface production facilities shortly after the rig is released from site. Drilling and completion operations are expected to last a total of 12 days.
Egdon is the operator and holds a 65% interest in the PEDL203 licence. Joint venture partner Terrain Energy Limited holds a 25% interest in the licence and on completion of the on-going farm-in Angus Energy will hold a 10% interest.
Further announcements will be made as operations progress.
For further information please contact:
Egdon Resources plc
Mark Abbott Managing Director 01256 702292
Buchanan Communications
Ben Willey, Miranda Higham 020 7466 5000
Nominated Adviser and Broker - Seymour Pierce
Jonathan Wright, Sarah Jacobs, Richard Redmayne 020 7107 8000
Company Background
Egdon Resources plc 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 Europe.
Egdon holds interests in twenty four 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 has production from the Keddington and Kirklington oil fields in the East Midlands and the Avington oil field in Hampshire. Further oil and gas production is anticipated from Eakring-Dukes Wood, Waddock Cross and Kirkleatham in 2010.
Egdon Resources plc listed on AIM in January 2008, following the demerger of its gas storage business, Portland Gas plc (now renamed Infrastrata plc). The pre-demerged business was formed in 1997 and listed on AIM in December 2004.
www.egdon-resources.com
In accordance with AIM rules - guidance for mining, 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 23 years experience.