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Wressle Oil Field: Commencement of Oil Flow

Mon, 1st Feb 2021 07:00

RNS Number : 4593N
Egdon Resources PLC
01 February 2021
 

 

01 February 2021

EGDON RESOURCES PLC

 ("Egdon" or "the Company")

Wressle Oil Field: Commencement of Oil Flow

Egdon Resources plc (AIM: EDR, "Egdon") is pleased to provide an update on operations at the Wressle Oil Field Development ("Wressle") located in North Lincolnshire Licences PEDL180 and PEDL182 where the Company holds a 30% operated interest.

 

Operations to recomplete the well and reperforate the Ashover Grit reservoir interval have been completed safely and successfully as per the previously advised schedule.

 

Following the reperforation and its successful communication with the Ashover Grit reservoir interval free-flow of oil has commenced and the well has been placed on continuous 24 hour test production. The well is currently in the normal clean-up phase as the well is carefully brought on-stream.

 

The Company will provide a further detailed update when flow rates have stabilised on completion of clean-up.

 

Produced oil from Wressle will be transported by road tanker to the Phillips 66 Humber refinery and sold under Egdon's existing oil sales contract.

 

Recent photographs and video footage of the Wressle site can be found on Egdon's Twitter feed @EgdonResources.

 

 

For further information please contact:

Egdon Resources plc

Mark Abbott, Martin Durham 01256 702 292

 

Buchanan

Ben Romney, Chris Judd 020 7466 5000

 

Nominated Adviser & Joint Broker - WH Ireland Limited

Chris Hardie, Lydia Zychowska 020 7220 1666

Joint Broker - VSA Capital Limited

Andrew Monk (Corporate Broking) 020 3005 5000

Andrew Raca (Corporate Finance)

 

Notes to Editors:

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

Egdon holds interests in 41 licences in the UK and has an active programme of exploration, appraisal and development within its portfolio of oil and gas assets. Egdon is an approved operator in the UK. Egdon was formed in 1997 and listed on AIM in December 2004.

Wressle

The Wressle-1 well was drilled in 2014 and tested in 2015. The Wressle-1 well has flowed oil and gas from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags. This totalled 710 barrels of oil equivalent per day from all zones. In September 2016 a Competent Person's Report made independent estimates of Reserves and Contingent and Prospective oil and gas Resources for the Wressle discovery of 2.15 million stock tank barrels classified as discovered (2P+2C).

Qualified Person Review

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, this release has been reviewed by Mark Abbott, Managing Director of Egdon, who is a geoscientist with over 30 years' experience and is a member of the Petroleum Exploration Society of Great Britain and a Fellow of the Geological Society. Mr Abbott has consented to the inclusion of the technical information in this release in the form and context in which it appears.

Evaluation of hydrocarbon volumes 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).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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UPDSDSESFEFSELF
Date   Source Headline
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

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