AGM Results & Trading Update

Egdon Resources PLC
31 January 2005


For immediate release                                    31 January 2005






                              EGDON RESOURCES PLC

                        Results of AGM and Trading Update



Egdon Resources Plc ('Egdon' or 'the Company'), the independent UK focused oil
and gas exploration company, is pleased to announce that at its Annual General
Meeting held at the offices of Norton Rose, Camomile Street, London, EC3A 7AN at
12.00 p.m. today, all resolutions put before the meeting were duly passed.



At the meeting Egdon's Chairman, Philip Stephens made the following statement:



'Following the successful Institutional Placing and flotation on AIM in December
2004, the Company is looking forward to an active drilling campaign across its
extensive portfolio of UK and French licences.



'In Dorset at the Waddock Cross oil accumulation, a 3D seismic survey is due to
commence in late February to define the detailed locations of further planned
wells.  A planning application for two horizontal appraisal wells at the field
are due to be submitted within the next few weeks with drilling anticipated in
the second half of 2005, conditional upon the granting of planning consent.



'In the Cleveland Basin in Yorkshire, a seismic programme is planned during
April on PEDL071 over the Fraisthorpe gas prospect in which the Company has a
50% operated interest.  This prospect target is the same producing reservoir as
the prolific Southern Gas Basin.



'The recent farmout of interest in the planned Westerdale and Kirkleatham wells
by Sterling Resources to Hereward Ventures should result in these wells being
drilled as planned during the second half of the year.  Egdon has a 20%
interest, with a 5% option, in these gas prospects located in North Yorkshire.



'The Avington-3 appraisal well is scheduled to be drilled in April or May, on
the conclusion of the Pentex Management Limited sale.



'Technical evaluations are progressing on all other licenses including the seven
licences gained from the 12th UK Onshore Round.'



'During 2005 we look forward to building further shareholder value by adding to
our booked reserves.'



For further information please contact:


Egdon Resources Plc                                            01256 702292
Mark Abbott, Joint Managing Director
Andrew Hindle, Joint Managing Director

Seymour Pierce Limited                                         020 7107 8000
Jonathan Wright
Jeremy Porter

Buchanan Communications                                        020 7466 5000
Eric Burns
Ben Willey



Notes to the Editors:



Egdon is an established, independent UK-based oil and gas exploration company
primarily focused on the hydrocarbon-producing basins of the onshore UK. Egdon
also has exploration interests in the offshore UK and France. The Company
applies advanced level exploration technology to the overlooked potential of
such areas. Egdon was formed in 1997 by Dr Andrew Hindle and Mark Abbott and its
Ordinary Shares began trading on the OFEX market in July 2000 before being
listed on AIM in December 2004. The Company has acquired a diverse portfolio of
nineteen exploration licences containing a significant number of identified oil
and gas prospects. The licences cover a broad risk spread, ranging from
discoveries under appraisal through to higher risk but higher potential reward
prospects.



Company Background



Egdon has focused geographically on the onshore UK as the Directors believe that
the area is underexplored, having had relatively low levels of exploration
activity since the mid 1980s when a major phase of seismic prospecting and, to a
lesser extent, drilling was curtailed by a drop in oil prices and changes to the
UK fiscal regime with the removal of Petroleum Revenue Tax ('PRT') relief. By
the mid-1990s, the majority of the exploration areas had been relinquished,
enabling Egdon to acquire its extensive portfolio of UK interests, largely
through applications to the Department of Trade and Industry in the Eighth to
Twelfth Landward Licensing Rounds. Egdon has successfully been awarded an
interest in all of its applications over the past six years. As a consequence of
its UK geographic focus, Egdon has been able to secure and maintain Enterprise
Investment Scheme ('EIS') and Venture Capital Trust ('VCT') tax status thus
affording qualifying investors significant UK tax breaks.




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