Egdon Resources PLC Licence Extension on PEDL143 "A24" Prospect (5450J)
August 20 2019 - 1:00AM
UK Regulatory
TIDMEDR
RNS Number : 5450J
Egdon Resources PLC
20 August 2019
20 August 2019
EGDON RESOURCES PLC
("Egdon" or "the Company")
Licence Extension on PEDL143 "A24" Prospect
Egdon Resources plc notes the announcement made this morning by
UK Oil & Gas PLC ("UKOG") concerning a two year extension of
PEDL143 in the Weald Basin where Egdon has an 18.4% interest:
The UKOG release stated;
"UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that the Oil and Gas Authority ("OGA") has granted a two-year
extension to the initial term of the Company's operated PEDL143
licence (UKOG 67.5%, northern Weald, "A24" prospect). The initial
term will now end on 30 September 2022.
PEDL143 "A24" Prospect
The licence lies immediately to the west of the Company's Horse
Hill licences (UKOG 85.635%) and contains the significant "A24"
Portland and Kimmeridge oil prospect, a direct geological
look-alike to the Company's Horse Hill oil field, situated on-trend
some 8km to the east. Several smaller prospects of similar size to
the nearby Brockham Portland oil field have also been identified.
Multiple potential new drilling sites outside the nearby Area of
Outstanding Natural Beauty are under evaluation and drilling is now
scheduled to follow directly after the completion of the Company's
9-well 2019/2020 drilling programme, subject to the grant of
necessary regulatory approvals."
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/ Rick Thompson (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)
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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