First Day Dealings on AIM

Portland Gas plc
17 January 2008


For Immediate Release                                            17 January 2008



                                Portland Gas plc


                          First Day of Dealing on AIM


Portland Gas plc (AIM : PTG) ('Portland' or the 'Company') the gas storage
project development company today announces the commencement of dealings in its
shares on AIM following completion of the demerger from New Egdon (renamed Egdon
Resources plc) which is also admitted to trading on AIM today.


Seymour Pierce Limited is the Nominated Adviser and Broker and NM Rothschild and
Sons are financial advisors to Portland Gas.


Overview of Portland


Portland's business focuses on the development of gas storage projects in the
United Kingdom and internationally. It currently has two projects in its
portfolio, the first an advanced Project at the Isle of Portland which has been
under development for over 3 years, and the second the Larne Lough project in
Northern Ireland which was announced in July 2007.


The Isle of Portland project is seeking to develop a major gas storage facility,
with the creation of 14 underground storage caverns totaling 1000 mcm (35 bcf)
of natural gas - equating to 1% of the UK's annual demand.


Portland Gas has drilled and successfully appraised the salt sequence at
Portland and is currently progressing through the planning, financing and
tendering for construction processes. The planning application decision is
expected to be made during the first quarter of 2008.


The Company is currently evaluating the potential of a Permian salt sequence in
the Larne area of Northern Ireland to create salt gas storage caverns. The
Company has commenced an Environmental Impact Assessment for the proposed
project and has also acquired a 3D seismic programme during October and November
2007 to define the distribution and thickness of the salt within the area of
interest. It is anticipated that the results of the seismic programme will be
known later in the first quarter 2008.


Portland Gas plc will be led by Andrew Hindle as Chief Executive Officer with
Craig Gouws (Chief Financial Officer), Walter Roberts (Legal and Commercial
Director), Kenneth Ratcliff (Non-Executive Chairman), Mark Abbott (Non-Executive
Director), and Maurice Hazzard (Non-Executive Director) comprising the Board.


Upon admission there will be 67,801,840 ordinary shares in issue.


Commenting on the listing of Portland Gas on AIM, Andrew Hindle, Chief Executive
Officer of Portland said:


'Portland Gas has developed a significant presence in the UK energy industry
over the past 3 years, and our strategy to develop the Portland project has led
to significant shareholder value creation in this time.


'The Company is delighted to be admitted to AIM, following our demerger from
Egdon, and we look forward to developing our portfolio of projects in the UK and
internationally over the coming years in a sector that is rapidly becoming an
important element of UK energy security.'



For further information please contact:


Portland Gas plc                         020 8332 1200
Andrew Hindle Chief Executive Officer
Craig Gouws Chief Financial Officer

Buchanan Communications                  020 7466 5000
Ben Willey
Nicholas Melson
Miranda Higham

Seymour Pierce Limited                   020 7107 8000
Jonathan Wright
Sarah Jacobs


Notes to Editors:


Background to gas storage


Natural gas is an extremely important source of energy, currently contributing
37 per cent of the UK's energy needs. For many years, the UK has relied heavily
on its North Sea gas fields. That resource of secure and sustainable gas flow
has limited the need to provide significant storage volumes since daily and
seasonal demands for gas have been accommodated by the flexibility of supplies
close to shore. This relative luxury is becoming less and less sustainable as
the nation becomes increasingly reliant on less flexible imported gas, the
outcome of which is that in order to maintain control of supply and demand
requirements, the need for a substantial portfolio of natural gas storage
facilities is now a national issue.


Gas storage plays an important role in managing swing demand and mitigating the
need for (expensive) emergency imports. Gas storage facilities can be filled
during times of lower demand to be available during periods of higher demand,
either on a daily basis or seasonally.


Opportunities for a safe and environmentally friendly method of storing gas are
relatively few. One of the safest and most environmentally friendly methods of
storing large quantities of gas is deep underground.


Without the construction of more storage facilities, the UK will have an
ever-increasing shortage in storage capacity as our imports, and indeed demand,
increase.




                      This information is provided by RNS
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