Egdon Resources plc (AIM:EDR), the exploration and production company focused on the UK and Europe notes that the department for Business Enterprise and Regulatory Reform (“DBERR”) yesterday announced the offer of 93 Petroleum Exploration and Development Licences (“PEDL’s”) as part of the 13th Landward Licensing Round which closed on 6th February 2008.
The management of Egdon are pleased to announce that the Company has been offered six licences covering eight blocks or part blocks in the round. These licences are located in the East Midlands and Wessex Basin and expand the Company’s acreage and opportunity base within our core areas of activity.
The Company will provide further details in relation to these PEDL’s once documentation is received from DBERR over the coming weeks.
Two further applications by the Company are also subject to further discussion with DBERR.
Commenting on the offers, Managing Director of Egdon, Mark Abbott said
“We are delighted to have been awarded a high percentage of those blocks applied for in what has been a very competitive licensing round. The blocks offered provide significant opportunities for growth and are excellent additions to the Egdon UK portfolio of interests. As an established operator with a strong licence holding we are also encouraged by the level of interest shown in the onshore UK”