Further to the announcement of 14 July 2015, Egdon Resources plc (AIM:EDR) is pleased to announce that all the required authorisations have been received in respect of separate farm-outs of Licence PEDL005(Remainder) (“PEDL005(R)”) to Terrain Energy Limited (“Terrain”) and Union Jack Oil plc (“Union Jack”). The licence, located in Lincolnshire, contains the Keddington producing oil field, part of the Louth oil prospect, and the North Somercotes gas prospect.
Following completion of the Acquisition the interests in PEDL005(R) are now:
|Keddington Field||PEDL005(R) Excluding Keddington|
|Egdon Resources U.K. Limited||45% (Operator)||65% (Operator)|
|Terrain Energy Limited||35%||15%|
|Nautical Petroleum Limited||10%||10%|
|Union Jack Oil plc||10%||10%|