Egdon Resources plc (AIM: EDR, “Egdon”), an established UK-based exploration and production company focused on onshore exploration and production in the hydrocarbon-producing basins of the UK, wishes to provide an update on the planned proppant squeeze operation at its Wressle Oil Field Development (“Wressle”) located in North Lincolnshire, covered by Licences PEDL180 and PEDL182 where the Company holds a 30% operated interest
Egdon has been advised by its contractor, Schlumberger Oilfield UK Plc, that the proppant squeeze operations at Wressle have been pushed back by two to four weeks. The revised date is due to the contractor’s equipment being held on a job over-run in continental Europe. This is compounded by tighter import legislation and visa requirements which are beyond Egdon, and the contractor’s control. The contractor has provided assurance to Egdon that its amended timeline will be adhered to.
Mark Abbott, Managing Director of Egdon, commented:
“Whilst delays are a function of current business dislocations, we do not regard this as a material event in terms of ongoing progress at Wressle. We are confident that operations will soon be underway, and I look forward to updating the market in due course”.