Completion of Acquisition

Egdon Resources PLC
13 March 2007




13 March 2007

For Immediate Release


                         EGDON RESOURCES PLC ('EGDON')

           Completion of the acquisition of the Keddington Oil Field,
                        PEDL005 (Remainder), Onshore UK

Egdon Resources Plc ('Egdon'), the onshore UK focused energy company, is pleased
to announce that it has completed the acquisition from Roc Oil (GB) Limited 
('Roc') of its entire interest in UK Onshore Petroleum Exploration and 
Development Licence PEDL005 (Remainder), which incorporates the Keddington Oil 
Field.

The consideration for the acquisition was £250,000 in cash.

The Keddington Oil Field is located to the east of the town of Louth in the
county of Lincolnshire. Oil production at Keddington is from a sandstone
reservoir of Westphalian (Carboniferous) age at a depth of around 2180 metres.
The field has two production wells; Keddington-1z, which is a pumped well which
was producing around 20 to 30 barrels of oil per day ('bopd') with 50- 60% water
cut, and Keddington-2y which was free-flowing oil at 10-15 bopd along with up to
110,000 cubic feet of gas per day.

The Keddington Oil Field has produced a total of 173,000 barrels of oil to date.
Production to date is believed to represent only a small percentage of the
mapped oil in place, highlighting the potential for further production at
Keddington.

The Keddington Oil Field is currently not in production.  The Keddington-1z well
has been subject to tubing and pump problems in recent years and has been
shut-in since June 2006 waiting on a work-over rig. The Keddington-2y well has
not been put back on production since a pressure survey in March 2006.

Egdon is in the process of mobilising a work-over rig and equipment to site to
re-complete the Keddington-1z well with new tubing, rods and a deeper set pump
to optimise pumped production from this well.  At the same time Egdon will
restore free-flowing production from the Keddington-2y well.  Egdon is also
investigating the potential to utilise the produced gas in a gas engine already
installed at Keddington to generate electricity for use on site, thus reducing
operating costs. Prior to recommencing full-field production, Egdon will also
undertake some improvements to the site access and is renewing all environmental
consents.

Commenting on the transaction, Mark Abbott, Joint Managing Director of Egdon
said:

'We are delighted to have completed the acquisition of the Keddington Oil Field.
The next month will see a work-over of the Keddington-1z well which will add
near-term production and cash-flow in one of Egdon's core areas of the onshore
UK.'


For further information please contact:

Egdon resources Plc

Mark Abbott, Joint Managing Director                    01256 702 292
Andrew Hindle, Joint Managing Director


Buchanan Communications

Eric Burns                        01943 883 990
Ben Willey                        020 7466 5000

Seymour Pierce


Jonathan Wright                  020 7107 8000


Notes to Editors:



Company Background



Egdon is an established, UK-based energy company primarily focused on the
onshore UK. Egdon also has exploration interests in the offshore UK and France.
Egdon's shares are traded on the AIM market.



The Company is developing two distinctive businesses:



•     An oil and gas exploration and production business which has a portfolio
of twenty exploration licences containing identified oil and gas prospects
ranging from discoveries under appraisal through to higher risk but higher
reward 'wild-cat' exploration prospects.



•    A gas storage business initially focused on the development of a major salt
cavern gas storage facility beneath the Isle of Portland, Dorset.



In 2006, Egdon announced plans to demerge the two businesses during 2007.



PEDL005 (Remainder)



The PEDL005 licence is split into two sub-licences; PEDL005 (Remainder), which
is the subject of this acquisition; and PEDL005 (Saltfleetby) which contains the
Saltfleetby Gas Field owned 100% by WINGAS Storage UK Limited ('WINGAS'), and
which is not affected by this acquisition.



In addition to the Keddington Oil Field, PEDL005 (Remainder) also contains the
North Somercotes Prospect which is mapped on 3D seismic data.  Egdon will
re-evaluate this prospect as part of its re-assessment of the potential in the
licence.



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 Joint Managing Director of Egdon Resources Mark Abbott, a Geoscientist with
over 21 years experience.




                      This information is provided by RNS
            The company news service from the London Stock Exchange