Egdon Resources PLC PEDL 143 Transfer of Operatorship (8092S)
March 14 2019 - 2:01AM
UK Regulatory
TIDMEDR
RNS Number : 8092S
Egdon Resources PLC
14 March 2019
14 March 2019
EGDON RESOURCES PLC
("Egdon" or "the Company")
PEDL 143 Transfer of Operatorship
Egdon Resources plc notes the announcement made this morning by
Europa Oil & Gas (Holdings) plc, ("Europa") on behalf of the
operator of the Holmwood Licence PEDL143 (in which Egdon holds an
18.4% interest) that it is in the process of transferring its
operatorship of UK onshore licence PEDL143 to UK Oil & Gas
Investments plc ('UKOG').
The Europa release stated;
"Europa Oil & Gas (Holdings) plc, the UK and Ireland focused
oil and gas exploration, development and production company, is
pleased to announce that it is in the process of transferring its
operatorship of UK onshore licence PEDL 143 ('the Licence') to UK
Oil & Gas Investments plc ('UKOG'). Europa will continue to
hold a 20% interest in the Licence, which is located in the Weald
Basin, Surrey, alongside UKOG (40%), Egdon Resources plc (18.4%),
Angus Energy plc (12.5%), Union Jack Oil plc (7.5%) and Altwood
Petroleum (1.6%).
The decision to transfer operatorship of PEDL 143 is based on
Europa's focus on its high impact portfolio of exploration licences
in Atlantic Ireland, its existing producing assets onshore UK, and
the Company's pursuit of new ventures in its chosen areas of focus,
specifically the Atlantic seaboard, North Africa and NW Europe.
With its operational activities centred on the Weald Basin, the
Company believes UKOG's direct experience with, and technical
knowledge of the Portland and Kimmeridge plays at the nearby Horse
Hill discovery, will help inform a forward plan for the
Licence.
The transfer of PEDL143 operatorship to UKOG is subject to Oil
and Gas Authority consent."
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 and Broker - Cantor Fitzgerald Europe
David Porter/Nick Tulloch (Corporate Finance) 020 7894 7000
Caspar Shand Kydd (Sales)
Joint Broker - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
Notes to Editors:
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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