Settlement Proceeds Received

RNS Number : 1301X

Egdon Resources PLC

26 August 2020

 

  26 August 2020

EGDON RESOURCES PLC

 ("Egdon" or "the Company")

Settlement Proceeds received from Humber Oil & Gas Limited

Egdon Resources plc (AIM: EDR, "Egdon") is pleased to advise that the proceeds from the confidential settlement agreement between Egdon Resources U.K. Limited (acting on behalf of the PEDL253 joint venture partners) and Humber Oil & Gas Limited as announced on 24 June 2020 have been received.

The joint parties to PEDL253 have therefore resolved the dispute arising under the JOA and look forward to co-operating in the future in the development of the licence.

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  020 7220 1666

Lydia Zychowska

Joint Broker - VSA Capital Limited

Andrew Monk (Corporate Broking)  020 3005 5000

Andrew Raca (Corporate Finance)

Notes to Editors:

About Egdon

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 44 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.

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.

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.

 

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