REG - Egdon Resources PLC - Cloughton Gas in Place Update

Egdon ResourcesAnnouncement

11/09/2023 07:00

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RNS Number : 9224L  Egdon Resources PLC  11 September 2023

11 September 2023

EGDON RESOURCES PLC

("Egdon" or "the Company")

Cloughton Gas in Place Update

Egdon Resources plc (AIM:EDR), the UK Energy Company, notes the press release
made this morning by Europa Oil and Gas (Holdings) plc ("Europa") in relation
to the Cloughton gas discovery in PEDL343 where Egdon holds a 40% interest.
The release from Europa stated the following:

"Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused
oil and gas exploration, development, and production company, is pleased to
announce that it has completed a preliminary audit of the Cloughton gas in
place volumes which has resulted in a Pmean GIIP of 192 BCF and a range as
detailed in the following table.

 Cloughton   P90  P50  Pmean  P10
 GIIP - BCF  118  184  192    274

Note, it is only statistically correct to sum the Pmean volumes.

The discovery well at PEDL 343 (Cloughton) (in which Europa has a 40%
interest) flowed good quality sweet gas at rates of up to 40,000 scf/day on
natural flow and the Company believes that that a well could flow at 6
mmscf/day using the correct completion techniques."

 

For further information please contact:

Egdon Resources plc

Mark Abbott, Martin
Durham
01256 702 292

 

Buchanan

Ben Romney, Barry
Archer
020 7466 5000

 

Nominated Adviser & Joint Broker - WH Ireland
Limited

Antonio Bossi, Chris Hardie, James
Bavister
020 7220 1666

 

Joint Broker & Financial Advisors - VSA Capital Limited

Andrew Monk, Andrew
Raca
020 3005 5000

 

 

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.

About Egdon

 

Egdon Resources plc (LSE: EDR) is an established UK-based energy company
focused on onshore exploration and production in the UK.

Egdon holds interests in 33 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.

 

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