30 Oct 2014 15:20
30 October 2014 For immediate release
InfraStrata plc
("InfraStrata" or the "Company")
Completion of drilling operations - Burton on the Wolds-1 exploration well (PEDL201)
InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, notes that Egdon Resources plc ("Egdon") has released an RNS providing an update in respect of the conventional Burton on the Wolds-1 exploration well. Corfe Energy Limited, a company in which InfraStrata has a 40% shareholding, holds a 12.5% interest in the well (InfraStrata net 5%).
Egdon's RNS contained the following information:
"Egdon Resources plc (AIM:EDR) announces the completion of drilling operations at the Burton on the Wolds-1 conventional exploration well in UK Onshore Licence PEDL201 in Leicestershire.
The Burton on the Wolds-1 well was spudded on 18 October 2014 and reached a total depth of 1086 metres on 28 October 2014. The well penetrated only thin sands in the primary reservoir objective, the Rempstone Sandstone group, while the deeper secondary objective was encountered as non-reservoir rock.
Electric wireline logs have now been acquired in the well. Although weak hydrocarbon shows were observed while drilling through the Rempstone sands, interpretation of the log data indicates the thin sands to be water bearing.
The well is currently being plugged before the drilling rig is released from contract and, in due course, the well-site will be restored to its original condition as agricultural land.
The interests in Licence PEDL201 and the Burton on the Wolds-1 well are:
Egdon Resources U.K. Limited 32.50% (Operator)
Celtique Energie Petroleum Limited 32.50%
Terrain Energy Limited 12.50%
Corfe Energy Limited 12.50%
Union Jack Oil plc 10.00%
Egdon will now use information gained from Burton on the Wolds-1 to evaluate the remaining prospectivity of the acreage held under licence PEDL201."
For further information please contact:
InfraStrata plc
Andrew Hindle, Chief Executive Officer 020 8332 1200
Stewart McGarrity, Finance Director
Financial PR - Buchanan
Richard Darby/Gabriella Clinkard/Anna Michniewicz 020 7466 5000
Nominated Advisor and Broker - Arden Partners plc
Chris Hardie 020 7614 5917
Notes to Editors:
Background on InfraStrata plc
InfraStrata is an independent petroleum exploration and gas storage company. The Company is focused on two areas in the UK, in Dorset, England and Antrim, Northern Ireland.
Further information is available on the Company's website www.infrastrata.co.uk.