Egdon Resources plc (AIM: EDR, “Egdon”) is pleased to provide an update on the Biscathorpe Project in Lincolnshire Licence PEDL253 where the Company holds a 44.75% operated economic interest.
- Economic modelling indicates a financially robust project even in the current oil price environment
- The principal Westphalian target has an estimated un-risked gross NPV(10) of £55.6 million
- Break-even full-cycle economics estimated to be (NPV(10)) US$18.07 per barrel of oil
- A 57 metre oil bearing section in the Dinantian Carbonate of Biscathrope-2 represents a secondary target with potentially significant commercial upside
- Future identified drill targets are accessible via a side-track of the suspended Biscathorpe-2 well.
Egdon Resources plc (AIM: EDR, “Egdon”) is pleased to provide an update on the Wressle development in North Lincolnshire Licences PEDL180 and PEDL182 where the Company holds a 30% operated interest.
Given recent events in the oil and gas markets, Egdon has updated its economic model for the Wressle project.
This work demonstrates that the project is economically robust in the current low oil price environment with an estimated project break-even oil price of $17.62 per barrel. (more…)
Egdon Resources plc (AIM:EDR, “Egdon” or “the Operator”) notes the announcement made this morning by Union Jack Oil plc (“UJO” or “the Company”) on their acquisition of an additional 35% interest in the producing Keddington Oilfield PEDL005(R) and a 15% Interest in PEDL339 from Terrain Energy Limited. (“Terrain”). (more…)
Egdon Resources plc (AIM:EDR) is pleased to provide an update on production for the first half of the Company’s 2019-2020 financial year (“H1 2020” or “the Period”) which ended on 31 January 2020.
Further to our announcement of 20 January 2020, Egdon Resources plc (AIM:EDR) is pleased to announce the signature of a Farm-In Agreement with Shell U.K. Limited (“Shell”) in relation to UK offshore licences P1929 and P2304 (“the Licences”) which contain the Resolution and Endeavour gas discoveries respectively.
Egdon Resources plc (AIM:EDR) is pleased to report that the Planning Inspectorate has today upheld our appeal and granted planning consent for the development of the Wressle Oil Field in North Lincolnshire licences PEDL180 and PEDL182.