Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video 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

Operations Update

16 May 2006 10:33

Egdon Resources PLC16 May 2006 16 May 2006 For immediate release EGDON RESOURCES PLC Portland-1 Operations Update Egdon Resources Plc (AIM : EDR), the onshore UK focused energy company, todayprovides an update on its gas storage project on the Isle of Portland in Dorset. Portland Gas Limited ('the Company'), a wholly owned subsidiary of EgdonResources Plc, is drilling the Portland-1 borehole on the Isle of Portland,Dorset to confirm that a halite sequence (called 'S7' by the Company), within aTriassic salt sequence ('Saliferous Beds') of the Wessex Basin, is suitable forthe creation of caverns to store natural gas. As previously reported, the top of the Saliferous Beds was encountered at adepth of 2139 metres. Following the setting of a 7 inch steel liner in the hole,coring of the sequence, using a wireline retrievable 4.2 metre core barrelwithin a 'PQ' coring string, commenced on 14 April 2006 at a depth of 2149metres. On 26 April, after cutting core number 32 at a depth of 2260.98 metres, the 'PQ'string jammed in the hole and whilst trying to pull it free the pipe parted at adepth of 1086 metres. During subsequent 'fishing' operations to retrieve the 'PQ' string that remained in the hole, the rig had mechanical problems whichfurther delayed the operations. The 'PQ' pipe was partially recovered to a depthof 2107 metres. On 12 May the decision was made to sidetrack the well at a depthof 2040 metres, drill the new hole section to 2250 metres (with the sidetrackedwell path programmed to be approximately 10 metres to the northwest of theoriginal hole at this depth) and then resume coring using a conventional 18metre core barrel on the end of drilling pipe. At 06:00 hours today the window in the 7 inch steel liner had been cut anddrilling operations will resume within the next 24 hours. It is anticipated thatcoring will re-start within the next 3 days. The top of the S7 sequence was encountered at a depth of 2235 metres (to beconfirmed by wireline logging after the Saliferous Beds has been drilled). Corehas been recovered in the well to a depth of 2256.68 metres. To date, 117.68metres of the Saliferous Beds have been confirmed, of which 21.68 metres areinterpreted as the S7 sequence. The S7 is expected to be approximately 180metres thick at Portland-1. Core samples from the section already drilled have been taken to laboratories inGermany to enable the Company to start a series of tests to confirm thesuitability of the Saliferous Beds on the Isle of Portland for the developmentof a gas storage facility and, if so, to optimise the design of the storagecaverns. The results of these tests are anticipated at the end of July 2006. Ifpositive, this will result in a planning application being submitted inSeptember or October 2006. For further information please contact: Egdon resources Plc Andrew Hindle, Joint Managing Director 01256 702 292 Mark Abbott, Joint Managing Director Buchanan Communications Eric Burns 01943 883 990 Ben 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's shares are traded on the AIMmarket. The Company is developing two major business areas: An oil and gas exploration and production business which has a portfolio oftwenty exploration licences containing identified oil and gas prospects rangingfrom discoveries under appraisal through to higher risk but higher reward "wild-cat" exploration prospects. A gas storage business initially focused on the prospective development of amajor salt cavern gas storage facility beneath the Isle of Portland, Dorset. 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 Dr Andrew Hindle, a CharteredGeologist with over 22 years experience. This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
1st Nov 20167:00 amRNSIndependent Gas in Place Estimates
26th Oct 20167:00 amRNSUK Onshore Licence Interest Acquisitions
18th Oct 20167:00 amRNSNotification of Results
7th Oct 20163:25 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
6th Oct 201610:15 amRNSSprings Road Planning Adjournment
3rd Oct 20167:00 amRNSUK 14th Onshore Licensing Round Final Awards
26th Sep 20167:00 amRNSCPR on Wressle-1 and Broughton North Prospect
26th Aug 20162:35 pmRNSExercise of options
22nd Aug 20167:00 amRNSAcquisition of additional interest in PEDL068
15th Aug 201612:49 pmRNSHargreave Hale TR1
15th Jul 20167:00 amRNSNotification of Major Shareholding
4th Jul 20167:00 amRNSUK Licence Changes
27th Jun 20167:05 amRNSExtension of Licence PEDL143
13th Jun 20167:00 amRNSFarm-out of Interest in PEDL182
24th May 20164:35 pmRNSPrice Monitoring Extension
26th Apr 20167:00 amRNSInterim Results
4th Apr 20167:00 amRNSNotification of Interim Results
14th Mar 20161:00 pmRNSCompletion of drilling - Laughton-1 exploration
15th Feb 20167:00 amRNSCommencement drilling operations Laughton-1 Well
8th Feb 20167:00 amRNSKeddington-5 Development Well
26th Jan 20167:00 amRNSFarm-out of Interest in the Laughton-1 Well
18th Jan 20167:00 amRNSCommencement of Drilling Keddington-5 Well
5th Jan 20161:41 pmRNSDirectors Share Dealing
4th Jan 20161:53 pmRNSDirectorate Changes
17th Dec 20153:32 pmRNSDirectors Share Dealing
17th Dec 20151:25 pmRNSUK 14th Onshore O&G Licensing Round 2nd Tranche
3rd Dec 201512:23 pmRNSResults of AGM
30th Nov 201510:18 amRNSHolding(s) in Company
16th Nov 20158:00 amRNSGrant of Options
3rd Nov 20157:00 amRNSFinal Results for the Year Ended 31 July 2015
22nd Oct 20157:00 amRNSWressle Oil and Gas Discovery: Update
14th Oct 201510:37 amRNSNotice of Results
23rd Sep 20153:08 pmRNSFavourable Holmwood Planning Decision
21st Sep 20157:00 amRNSCompletion of Farm-out of Interests in PEDL005(R)
4th Sep 20158:20 amRNSWressle-1 Update and Forward Plan
18th Aug 20152:35 pmRNSEgdon to be offered blocks in 14th Onshore Round
7th Aug 20153:31 pmRNSFavourable Holmwood Planning Inspectorate Decision
21st Jul 20157:00 amRNSWressle-1 EWT Update
14th Jul 20157:00 amRNSFarm-out of Interests in Licence PEDL005(R)
29th Jun 20157:00 amRNSFarm-out of PEDL143 Holmwood Prospect
22nd Jun 201511:09 amRNSHolding(s) in Company
22nd Jun 20157:00 amRNSFarm-out of further Interest in PEDL253
18th Jun 20157:00 amRNSWressle-1 Commencement of Extended Well Test
5th Jun 20157:00 amRNSPEDL241 - Acquisition of Additional Interest
21st Apr 20157:00 amRNSInterim Results
1st Apr 20154:05 pmRNSNotification of interim results
27th Mar 20157:00 amRNSWressle-1 Testing Update Second Penistone Flags
23rd Mar 20157:01 amRNSCompletion of drilling at Kiln Lane-1
16th Mar 20153:00 pmRNSPlanning Permission Granted for Biscathorpe-2 well
3rd Mar 20157:00 amRNSUpdate on Wressle-1 Well Testing

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.