Re Agreement

Egdon Resources PLC
06 April 2005

6th April 2005

For immediate release


                              EGDON RESOURCES PLC

                  EGDON FARMS OUT HEAVY OIL PROJECT IN FRANCE

Egdon Resources Plc ('Egdon' or 'the Company') is pleased to announce that its
wholly owned subsidiary, Egdon Resources (New Ventures) Ltd, has reached
agreement, to farm out 22% of its interest in the St Laurent licence in France
to Masefield Energy Holdings AG ('Masefield'). Egdon's working interest in the
licence will reduce from 42.850% to 33.423% on completion of the agreement which
is subject to French ministry approval.

The St Laurent licence contains the undeveloped Grenade heavy oil accumulation.
A recent independent report by RPS Troy-Ikoda determined that the oil-in-place
within the structure was in the range of 68 to 485 million barrels of oil, with
a Best Estimate of 221 million barrels of oil. The discovery well, Grenade Sur
Adour-1 was drilled by Elf in 1975 and found a 97 metre column of 10 degree
API oil. Although the well did flow on test it was subsequently plugged and 
abandoned in 1988 as non-commercial following intermittent testing between 1976 
and 1985.

In return for the licence interest, Masefield has agreed to fund work designed
to determine the feasibility of producing and marketing the crude from the
Grenade discovery.

The licensees will submit documents to the French Ministry on 7th April 2005 to
renew the licence for a further 3 years beyond the expiry of the first period on
7th August 2005. The less prospective areas within the licence will be
relinquished as part of the renewal, reducing the area under licence to
approximately 650 square kilometers.

Commenting on the agreement, Egdon's Joint Managing Director, Mark Abbott, said
'A number of new technologies have been developed in the past 20 years to
enhance well production rates for heavy oils and their handling at the surface.
The Company decided that the best way of progressing the development of this
potentially significant resource was to bring in a specialist company such as
Masefield with management experience and access to proprietary technology in
such heavy oil operations'.


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:

Masefield Energy Holdings AG is a Swiss registered company with interests via
subsidiary companies in heavy oil projects, including Nautical Petroleum PLC, a
specialist energy company focussed on production of heavy crude oils from
discovered reserves in the United Kingdom Continental Shelf and QPS AG which has
access via Masefield Energy Holdings AG to proprietary heavy oil technologies.

Egdon operates the St Laurent licence. The existing partners are also
participating with Egdon in the farm-out. The new working interests in the St
Laurent licence following completion of the agreement will be:

Egdon Resources (New Ventures) Ltd        33.423%
Sterling Resources (UK) Ltd.              33.423%
Masefield Energy Holdings AG              22.000%
Eagle Energy Limited                      11.154%


Company Background

Egdon is an established, independent UK-based oil and gas exploration company
primarily focused on the hydrocarbon-producing basins of the onshore UK. Egdon
also has exploration interests in the offshore UK and France. The Company
applies advanced level exploration technology to the overlooked potential of
such areas.

Egdon was formed in 1997 by Dr Andrew Hindle and Mark Abbott. In December 2004,
Egdon's shares commenced trading on the Alternative Investment Market, having
been previously traded on Ofex since July 2000. The Company has acquired a
diverse portfolio of nineteen exploration licences containing a significant
number of identified oil and gas prospects. The licences cover a broad risk
spread, ranging from discoveries under appraisal through to higher risk but
higher potential reward prospects.


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