Egdon Resources PLC
14 December 2005
14 December 2005
For immediate release
EGDON RESOURCES PLC
Operations Update
Egdon Resources Plc ('Egdon' or 'the Company') is pleased to advise that the
BDF28 drilling rig has completed drilling operations at Waddock Cross-3 in
Dorset and is now mobilising to the Kirkleatham-4 wellsite in Cleveland where
drilling operations are expected to commence on or around Thursday 15 December.
At Waddock Cross-3, a 695 metre horizontal section was drilled and completed
with pre-drilled tubing through the Bridport Sandstone reservoir. The well was
drilled to a total depth of 1510 metres (661.5 metres true vertical depth). The
wellsite is now being prepared for an extended well test (EWT) using a pump-jack
(nodding donkey) which is expected to commence later in December. Initial
results are expected to be known during January.
The Kirkleatham-4 well will target the Kirkleatham prospect which is located
beneath and to the west of the town of Redcar in Cleveland. The structure was
originally tested by two wells in the mid 1940s, with testing producing
sub-commercial gas-flows in both wells from Permian age Zechstein carbonates.
Seismic data shows the potential to apply modern drilling and completion
techniques up-dip of both wells. The Kirkleatham-4 exploration well will test
for the presence of an effective gas reservoir in this up-dip area of the
structure. Kirkleatham-4 will be drilled as a vertical well to a prognosed
depth of 900 m and is anticipated to take 15 days to drill.
For further information please contact:
Egdon Resources Plc 01256 702292
Mark Abbott, Joint Managing Director
Andrew Hindle, Joint Managing Director
Buchanan Communications 020 7466 5000
Eric Burns
Ben Willey
Notes to the Editors:
Kirkleatham-4 is located in the PEDL068 licence (Kirkleatham-4, Westerdale-1) in
the Cleveland Basin where the Company holds a 20% working interest but is
carried for 10% of the first well, Kirkleatham-4, and also holds an option to
increase its interest to 25%. The Waddock Cross-3 well was drilled within the
PL090 in the Wessex Basin where the Company holds a 45% working interest.
Company Background
Egdon is an established, UK-based energy company primarily focused on the
hydrocarbon-producing basins of the onshore UK. Egdon also has exploration
interests in the offshore UK and France.
Egdon was formed in 1997 by Dr Andrew Hindle and Mark Abbott. In December 2004,
Egdon's shares commenced trading on AIM, having been previously traded on Ofex
since July 2000. The Company is developing two major business areas; 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; and a gas storage business initially focused on the
development of a salt cavern gas storage facility on the Isle of Portland,
Dorset.
This information is provided by RNS
The company news service from the London Stock Exchange
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