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There has been a significant restructuring of Egdon’s portfolio in France, with the sale of Egdon Resources (New Ventures) Ltd to eCORP and completion of the acquisition of EnCore’s French subsidiary. Egdon now holds interests in four onshore licences, is awaiting the award of a fifth and has back-in options on two permits and a pending application.
The French Parliament passed a law in May 2011 banning the use of hydraulic fracturing.
In addition to potential drilling on the Mairy Permit the key focus of activity for Egdon in the next 18 months will be on the St Laurent and Pontenx permits.
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St Laurent
(33.423% Egdon Operated Interest) |
- Located in the Aquitaine Basin of South-West France
- Contains multi-TCF Audignon gas prospect (896 bcf Net Egdon Best Estimate Prospective Resources)
- Seeking to farm-out to de-risk prospect ahead of drilling
- Seismic acquisition planned for 2012
- Contains the Grenade heavy oil accumulation – Net Egdon 2.06 mmbo Best Estimate Contingent Resources
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Pontenx
(40% Egdon Operated Interest) |
- Located in the Parentis Basin South-West France to the south of the Parentis Oil Field, the largest in France
- Contains the abandoned Mimizan Nord field which produced 3.5 mmbls of 12 API oil
- Three additional undeveloped oil discoveries identified in Cretaceous age carbonate sequences
- 3D Seismic planned for 2012
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Mairy
(50% Egdon Interest) |
- Located in the Paris Basin of Northern France
- Contains Triassic age oil prospects including Le Petit Pierere which produced oil from the Rhaetic sandstone reservoir
- Contains non-conventional oil-shale potential in Jurassic age (Lower Liassic) shales
- Exploration well now planned for 2012 - farmout well
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Nimes
(100% Egdon Operated Interest) |
- Located in the South-East basin of Southern France
- Potential for conventional oil and gas prospects in Tertiary and Cretaceous plays
- Permit evaluation ongoing - likely relinquishment
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Donzacq Application
(33.423% Egdon Operated Interest) |
- Located in the Aquitaine Basin of South-West France adjacent to St Laurent
- Awaiting award
- Contains the Bastennes-Gaujacq Prospect (c. 300 bcf Net Egdon Best Estimate Prospective Resources)
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Gex, Navacelles and Gex Sud Application Options
(eCORP operated) |
- Egdon has back in options of 6% (Gex and Gex Sud Application) and 9% (Navacelles)
- Egdon contracted to undertake exploration work on behalf of eCORP
- Gex contains Triassic and Jurassic conventional reservoir targets
- Gravity survey completed over main prospects
- Navacelles contains Cretaceous and Jurassic carbonate prospects
- Drilling expected 2013-14 on Gex and Navacelles
- Gex Sud (awaiting award) contains Triassic and Jurassic conventional reservoir targets
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