Egdon Resources plc (AIM:EDR) notes the release made today by Europa Oil and Gas (Holdings) plc (“Europa”) advising commencement of 2D seismic acquisition in UK Onshore Licence PEDL 181 in which Egdon holds a 25% interest.
PEDL 181 covers an area of 540 square kilometres in East Lincolnshire, a region with a proven hydrocarbon system. Several leads have been identified on PEDL 181 following a recent technical evaluation. Four leads in the southern part of the licence are to be the focus of the current work which will comprise the acquisition of 78 line kilometres of 2D seismic data and the reprocessing of 150 square kilometres of existing 3D seismic data over a mapped structural high trend, the Caistor anticline.
Egdon looks forward to receiving the results of the 2D seismic acquisition programme together with the reprocessed 3D dataset and using them to further define the prospectivity of the PEDL 181 licence and determine the future work programme.
Licence partners in PEDL 181 are:
|Europa Oil & Gas Limited (Operator)||50%|
|Egdon Resources U.K. Limited||25%|
|Celtique Energie Petroleum Ltd.||25%|