Egdon Resources plc (AIM:EDR) is pleased to announce the completion of the Farm-out Agreement with Total E&P UK Limited in respect of UK Onshore Petroleum Exploration and Development Licences PEDL139 and PEDL140.
As a consequence of the various agreements between the parties, Egdon will receive $600,000 (ca. £365,000) in cash following completion.
The interests in PEDL139/140 are:
|Total E&P UK Limited||: 40.0%|
|GP Energy Limited (a subsidiary of Dart Energy Europe Limited)||: 17.5%|
|Egdon Resources U.K. Limited||: 14.5%|
|Island Gas Limited||: 14.5%|
|eCORP Oil & Gas UK Limited||: 13.5%|