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18 Dec 2009 07:00
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Immediate Release |
18 December 2009 |
EGDON RESOURCES PLC
("Egdon" or "the Company")
Update on Drilling Plans
The Directors of Egdon Resources plc (AIM:EDR) today provide an update on planned drilling operations on its East Midlands Properties.
As previously reported the Dukes Wood-1 well in Nottinghamshire licence PEDL118 was planned to commence prior to year end. However, delays in release of the rig from the previous operator has led to a short delay and the rig will now mobilise to the Dukes Wood well site during the first week of the New Year.
In addition, the Company is pleased to announce that it has entered into a second contract with British Drilling and Freezing Limited for the drilling of two further wells at the Kirklington and Keddington oil fields in licences PEDL203 and PEDL005(Remainder) respectively. The Kirklington-3 well will be a sidetrack of the existing Kirklington-2 production well and will target previously un-drained areas of the field. This well will be drilled immediately following completion of operations at Dukes Wood. It is then intended to move the rig to drill the Keddington-3 well which will be drilled as a sidetrack of Keddington-2y, again to access un-drained areas of the field and increase overall production levels.
Further announcements will be made as appropriate as this three well drilling programme progresses.
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. 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.
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