Commencement of 2D seismic acquisition on PEDL 181

RNS Number : 3230A

Egdon Resources PLC

19 March 2013

 



For immediate release

19 March 2013

EGDON RESOURCES PLC

("Egdon" or "the Company")

Commencement of 2D seismic acquisition on PEDL 181, East Lincolnshire

Egdon Resources plc (AIM:EDR) notes the release made today by Europa Oil and Gas (Holdings) plc ("Europa") advising commencement of 2D seismic acquisition in UK Onshore Licence  PEDL 181 in which Egdon holds a 25% interest.

PEDL 181 covers an area of 540 square kilometres in East Lincolnshire, a region with a proven hydrocarbon system. Several leads have been identified on PEDL 181 following a recent technical evaluation.  Four leads in the southern part of the licence are to be the focus of the current work which will comprise the acquisition of 78 line kilometres of 2D seismic data and the reprocessing of 150 square kilometres of existing 3D seismic data over a mapped structural high trend, the Caistor anticline.

Egdon looks forward to receiving the results of the 2D seismic acquisition programme together with the reprocessed 3D dataset and using them to further define the prospectivity of the PEDL 181 licence and determine the future work programme.

Licence partners in PEDL 181 are:

Europa Oil & Gas Limited (Operator)                         50%

Egdon Resources U.K. Limited                                    25%

Celtique Energie Petroleum Ltd.                                 25%

For further information please contact:

Egdon Resources plc

Mark Abbott                                                                                                  01256 702292

Buchanan

Richard Darby, Gabriella Clinkard, Tom Hufton                              020 7466 5000

Nominated Adviser and Broker - Cantor Fitzgerald Europe

David Porter, Rick Thompson (Corporate Finance)                        020 7107 8000

Richard Redmayne (Corporate Broking)

Notes to Editors:

Egdon Resources plc

Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company primarily focused on onshore exploration and production in the hydrocarbon-producing basins of the UK and France. 

Egdon currently holds interests in twenty nine licences in the UK and France and has an active programme of exploration, appraisal and development within its balanced portfolio of oil and gas assets.  Egdon is an approved operator in both the UK and France.

Egdon was formed in 1997 and listed on AIM in December 2004.

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained in this announcement has been reviewed and signed off by the Managing Director of Egdon Resources plc Mark Abbott, a Geoscientist with over 26 years' experience.

 

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