Completion of drilling - Burton on the Wolds -1

RNS Number : 7547V

Infrastrata PLC

30 October 2014

 



30 October 2014                                                                        For immediate release

InfraStrata plc

("InfraStrata" or the "Company")

Completion of drilling operations - Burton on the Wolds-1 exploration well (PEDL201)

InfraStrata plc (AIM:INFA), the independent petroleum exploration and gas storage company, notes that Egdon Resources plc ("Egdon") has released an RNS providing an update in respect of the conventional Burton on the Wolds-1 exploration well. Corfe Energy Limited, a company in which InfraStrata has a 40% shareholding, holds a 12.5% interest in the well (InfraStrata net 5%).

Egdon's RNS contained the following information:

"Egdon Resources plc (AIM:EDR) announces the completion of drilling operations at the Burton on the Wolds-1 conventional exploration well in UK Onshore Licence PEDL201 in Leicestershire. 

The Burton on the Wolds-1 well was spudded on 18 October 2014 and reached a total depth of 1086 metres on 28 October 2014. The well penetrated only thin sands in the primary reservoir objective, the Rempstone Sandstone group, while the deeper secondary objective was encountered as non-reservoir rock. 

Electric wireline logs have now been acquired in the well. Although weak hydrocarbon shows were observed while drilling through the Rempstone sands, interpretation of the log data indicates the thin sands to be water bearing. 

The well is currently being plugged before the drilling rig is released from contract and, in due course, the well-site will be restored to its original condition as agricultural land.

The interests in Licence PEDL201 and the Burton on the Wolds-1 well are:

Egdon Resources U.K. Limited                      32.50% (Operator)

Celtique Energie Petroleum Limited               32.50%

Terrain Energy Limited                                   12.50%

Corfe Energy Limited                                      12.50%

Union Jack Oil plc                                          10.00%

Egdon will now use information gained from Burton on the Wolds-1 to evaluate the remaining prospectivity of the acreage held under licence PEDL201."

For further information please contact:

InfraStrata plc

Andrew Hindle, Chief Executive Officer                                                             020 8332 1200

Stewart McGarrity, Finance Director

Financial PR - Buchanan

Richard Darby/Gabriella Clinkard/Anna Michniewicz                                           020 7466 5000

Nominated Advisor and Broker - Arden Partners plc

Chris Hardie                                                                                                     020 7614 5917

Notes to Editors:

Background on InfraStrata plc

InfraStrata is an independent petroleum exploration and gas storage company. The Company is focused on two areas in the UK, in Dorset, England and Antrim, Northern Ireland.

Further information is available on the Company's website www.infrastrata.co.uk.

 

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