2019

Results of Annual General Meeting

The Directors of Egdon Resources plc are pleased to announce that at the Annual General Meeting held at the offices of Norton Rose Fulbright on 19 December 2019, all resolutions put before shareholders at the meeting were duly passedView or Download Voting Results and Proxy AppointmentsAt the meeting, Managing Director Mark Abbott presented a review of the business. The presentation will be available and can be accessed from the Company's website: www.egdon-resources.com.

December 20, 2019

Grant of Licence Extensions: P1929 and P2304

Egdon Resources plc (AIM:EDR) is pleased to advise that the Oil and Gas Authority (“OGA”) has granted licence extensions to UK offshore licences P1929 and P2304. Egdon’s subsidiary, Egdon Resources U.K. Limited (‘ERUK’), is the operator and currently holds a 100% interest in both licences.The OGA has granted a six month extension to both P1929 and P2304 (“The Licences”) to 31 May 2020 with obligations as follows:

  1. By 31 January 2020, demonstrate to the OGA’s satisfaction that a farm-in agreement has been fully executed which provides for funding of the licence work programme; and
  2. By 31 March 2020, demonstrate to the OGA’s satisfaction that the Licensee is on track to deliver a future programme of 3D seismic data acquisition across both Licences.

We anticipate further engagement with the OGA during the period of the licence extension to agree the nature and timing of the forward work programme and to reach agreement on the duration of a further licence extension to accommodate these activities.P1929 contains the Resolution gas discovery where a Competent Persons Report by Schlumberger Oilfield UK PLC (April 2019) reported estimates of mean Contingent Gas Resources of 231 billion cubic feet of gas (“bcf”) with a P90 to P10 range of 100 to 389 bcf, attributable to the Zechstein reservoir in the 1966 gas discovery made by Total in well 41/18-2. P2304 contains an extension of the Resolution discovery and the Endeavour gas discovery which Egdon estimates contains mean Contingent Resources of 18 bcf, with a P90 to P10 range of 10 to 28 bcf.Today’s news follows from our announcement of 4 November 2019, advising that ERUK had signed an exclusivity agreement (the “Agreement”) in respect of Licence P1929 and P2304 with a large internationally recognised exploration and production company (the “Counterparty”).Despite entry into the Agreement, no assurance can be provided that a commercial transaction will ultimately be concluded with the Counterparty. The Company will provide further updates in respect of these matters in due course.Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased to have secured extensions from the OGA for both P1929 and P2304 which contain the Resolution and Endeavour gas discoveries, key conventional projects for Egdon.  This follows on from our recent announcement of securing an Exclusivity Agreement with a large internationally recognised exploration and production company as our preferred partner for Resolution and Endeavour. Today’s news represents further positive progress for these projects and results from the proactive and constructive engagement  between Egdon, the Counterparty and the OGA.  Having secured the licence extensions, our focus now turns to finalising a farmout agreement and we look forward to updating shareholders on progress in this regard in the New Year.”

November 27, 2019

Results for the year ended 31 July 2019

Egdon Resources plc (AIM: EDR), a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, today announces its audited Results for the year ended 31 July 2019 (“the Period”).View or Download Results for the year ended 31 July 2019View or Download Annual Report 2019View or Download Form of Proxy 2019

November 19, 2019

Wressle Development Public Inquiry Concluded

Egdon Resources plc (AIM:EDR) is pleased to provide an update on the Wressle Development Public Inquiry.The Wressle Development Public Inquiry concluded yesterday, having commenced on 5 November 2019 in Scunthorpe, Lincolnshire. The inquiry lasted just three days, including a site visit, instead of the planned six days. As previously announced North Lincolnshire Council presented no evidence against the appeal. An application for costs has also been submitted.With a general election underway and resultant Planning Inspectorate purdah we expect a verdict on our appeal after 12 December 2019 but probably before the end of the year.Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:“We presented a very strong case, supported by detailed evidence and agree with the conclusions of the Council’s own professional planning officer. This was reinforced by an expert third party review undertaken on behalf of the Council, who recommended our revised application for approval ahead of the November 2018 decision.”

November 8, 2019

Government Moratorium on Hydraulic Fracturing for shale-gas

Egdon Resources plc (AIM:EDR) notes the announcement by government that it will introduce a temporary moratorium on hydraulic fracturing for shale gas.Over the last 6 years Egdon has built a significant acreage position in UK unconventional resources focused on the Gainsborough Trough in Eastern England. The results from the Springs Road-1 well drilled earlier this year, have shown the potential for a world class gas resource in this basin, with analysis indicating gas in place of 640 billion cubic feet of gas per square mile. Each basin and site is different and the Gainsborough Trough is characterised by its simple structure and limited faulting.We note the comment made by Oil and Gas Authority (OGA) Director of Regulation Tom Wheeler who stated that “the OGA believes that further detailed geomechanical analysis would be needed before we could evaluate with confidence whether hydraulic fracturing could resume in the Fylde, or elsewhere, consistent with the Government’s policy aims”. Egdon along with the rest of the industry is fully committed to working closely with the OGA and other regulators to demonstrate that we can operate safely and in an environmentally responsible manner, and we are confident of doing so.We also reiterate the comments of Ken Cronin, Chief Executive of UK Onshore Oil and Gas, the industry body in his response to the announcement; “Since shale gas exploration commenced in England we have confirmed a world-class resource. Flow testing and core sampling across Lancashire and North Nottinghamshire show that our high-quality indigenous gas can reach the surface, leaving the UK with no excuse to continue importing overseas gas that generates double the emissions and provides British workers, businesses and communities with no economic benefit.“As the Committee on Climate Change has stated, there will be a significant need for natural gas in 2050, approximately 70% of our current consumption, to meet our future demand for hydrogen.“The Committee also reiterated in their Net Zero report something any climate change conscious Government should pay heed to: it is essential that we do not simply offshore our emissions – and environmental responsibilities – to other countries.”Mark Abbott, Managing Director of Egdon said;Whilst growth of our unconventional resources asset base has formed an important and successful part of Egdon’s strategy over recent years, it should be remembered that Egdon also has a broad range of conventional oil and gas assets within its diverse portfolio. We expect numerous catalysts across the conventional portfolio in the coming months, including further positive developments relating to today’s announcement of entering an exclusivity agreement with respect to a farmout of the offshore Resolution and Endeavour gas discoveries with a large internationally recognised exploration and production company. We will now take some time to review the detail of the OGA report and the government announcement of a temporary moratorium and its implications for our business before reporting to shareholders in due course. My immediate focus is on presenting our case to the Planning Inspector at the Public Inquiry for the Wressle oil field development which commences tomorrow (5 November 2019) in Scunthorpe and is scheduled to last up to six days.

November 4, 2019

P1929 and P2304 Farm-out Exclusivity Agreement

Egdon Resources plc (AIM:EDR) is pleased to provide an update on the farm-out process in relation to the Resolution and Endeavour gas discoveries in UK offshore licences P1929 and P2304 respectively. Egdon subsidiary, Egdon Resources U.K. Limited (‘ERUK’), is the operator and currently holds a 100% interest in both licences.Following an extensive farm-out process, the Company can announce that ERUK has signed an exclusivity agreement (the “Agreement”) in respect of Licence P1929 and P2304 with a large internationally recognised exploration and production company (the “Counterparty”). Exclusivity has been granted to the Counterparty subject to a definitive farm out agreement or other definitive legal agreement(s) being entered into by 19 January 2020 and completion occurring by 19 April 2020.Given the exclusivity arrangement, discussions and negotiations with other parties have been suspended and the data room closed while the Agreement is in place.In April 2019 we announced the results of a Competent Person’s Report (“CPR”) prepared by Schlumberger Oilfield UK PLC in relation to the Resolution gas discovery. Schlumberger has made independent estimates of mean Contingent Gas Resources of 231 billion cubic feet of gas (“bcf”) with a P90 to P10 range of 100 to 389 bcf, that can be attributed to the Zechstein reservoir in the 1966 gas discovery made by Total in well 41/18-2 (UK)Egdon has previously submitted a request to the Oil and Gas Authority (“OGA”) for an extension to P1929 and P2304 both of which otherwise expire at the end of November 2019 and are hopeful of receiving confirmation from the OGA in respect of these extensions in the near future.Despite entry into the Agreement, no assurance can be provided that a commercial transaction will ultimately be concluded with the Counterparty. The Company will provide further updates in respect of these matters in due course.Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:“We are delighted to have agreed exclusivity with a large internationally recognised exploration and production company as our preferred partner for Resolution and Endeavour. In our view, the calibre of the proposed partner reflects the upside potential associated with these assets and validates our strategy to add them to our portfolio.  This represents a major step forward for these projects and results from the significant work undertaken by the team over a prolonged period. We look forward to working closely with the Counterparty to progress negotiations and due diligence and will of course update shareholders on progress in due course.”

November 4, 2019

Operations Update

Egdon Resources plc (AIM:EDR) is pleased to provide an update on production and operations following the end of the Company’s 2018-2019 financial (“FY2019”) on 31 July 2019. The Company’s preliminary results are scheduled to be announced on 19 November 2019.ProductionEgdon’s net production from the Ceres gas field and the Keddington and Fiskerton Airfield oil fields during FY2019 period was 66,364 barrels of oil equivalent (“boe”), at an average of 182 boe per day (“boepd”) (FY2018 12,691 boe, 70 boepd), in line with previously stated guidance. Production recommenced from the Ceres well in late October 2018 following installation of a new flow meter driving a significant increase in production over the previous financial year.Egdon will provide production guidance for the financial year ending 31 July 2020 (“FY2020”) with the preliminary results, but initial guidance for the first half of the financial year is c. 170-180 boepd with Mercury gas backout volumes receivable by Ceres partners ceasing at the end of December 2019.OperationsLicence extensionsEarlier this year Egdon applied for and received a number of onshore licence extensions from the Oil and Gas Authority as follows:

  • Continuation of the Second Term of PEDL180 and PEDL182 to August 2021.
  • Initial Terms were extended for PEDL143 (to September 2022), PEDL306 (to July 2024), PEDL334 (to July 2024).
  • Retention Area licence durations were extended for PEDL191 (to June 2023), PEDL201 (to June 2024) PEDL202 (to June 2023) and PEDL209 (to June 2023).
  • PEDL181 was converted to 14th Round terms and passed into the production period.

Springs Road-1On 12 September 2019, Egdon announced the results of the core analysis with combined Bowland shale gas in place of 640 bcf/square mile (“the resource density”). This is more than three times Egdon’s previous external estimates of the mean resource density for the entire Bowland Shale section in PEDL139/140 as reported by ERCE in 2014.The results from this extensive modern dataset demonstrate that the Bowland Shale of the Gainsborough Trough, where Egdon currently holds 82,000 net acres (128 square miles), compares favourably with some of the best US commercial shale plays and is potentially world class.The company looks forward to sharing further data on the well as it becomes available, particularly on the secondary target, the tight gas sands of the Millstone Grit.BiscathorpeFurther detailed technical analysis of the data from the Biscathorpe-2 well reported in July 2019 has upgraded the well results. The results of a revised petrophysical analysis and detailed geochemical analysis of drill cutting samples undertaken by Applied Petroleum Technology (UK) Limited (“APT”) confirmed the likely presence of a 35 metre column, of good quality oil, within the Dinantian interval. This, along with the elevated gas readings and oil shows over an extended interval in the well, are indicative of proximity to an effective petroleum system and validate the potential that exists within the PEDL253 licence area.Subsequent to our last update substantial progress has been made, including the reprocessing of 85 square kilometres of the existing 3D seismic data. The results of the interpretation of these data will be reported on in due course and will inform the next steps for the project which could include a side track of the suspended Biscathorpe-2 well that would target reservoirs in the Westphalian and Dinantian. Any future drilling would require additional consents including planning permission.WressleThe Wressle oil development has the potential to add 150 bopd to the Company’s production. Egdon’s extensively revised development proposals for the Wressle oil discovery were refused planning consent in November 2018, with that refusal appealed in February 2019.The public inquiry in respect of Egdon’s appeal against this refusal will be held between 5 and 13 November 2019. Egdon’s case will be presented by a QC supported by expert witnesses. The timing of the public inquiry has resulted in the company delaying its preliminary results announcement to 19 November 2019.As advised in July 2019, North Lincolnshire Council will no longer present evidence at the public inquiry having withdrawn its case in respect of this appeal following agreement of acceptable planning conditions during August 2019. A decision is expected around the turn of the year. Should approval be forthcoming Egdon will need to discharge all conditions prior to commencing operations and would hope to have first production some six months after a decision.

October 1, 2019

Springs Road Update – Resource Density in Bowland Shales

Egdon Resources plc is pleased to note the announcement made this morning by IGas Energy plc (“IGas”) of its First Half 2019 Results and associated presentation which provides further details of results from the analysis of whole core from the Springs Road-1 (“SR 01”) well on licence PEDL140, in which Egdon holds a 14.5% interest.The IGas release states;“ We mobilised the equipment to our Springs Road development in North Nottinghamshire in early January 2019 and spudded the well on 22 January 2019. In mid-February 2019, we encountered shales on prognosis, at c.2,200 metres depth and drilled through a significant hydrocarbon bearing shale sequence, including the upper and lower Bowland Shale.The well sought to assess three target zones: the Bowland Shale; the Millstone Grit and the Arundian Shale. All three targets were encountered, with 429 metres of hydrocarbon bearing shales encountered within the primary target, the Bowland Shale.IGas acquired 147 metres of core within the Bowland Shale, the first extensive core sample from this basin, which has subsequently been analysed by Stratum Reservoir (formerly Weatherford Labs) in their laboratories in both the UK and the USA.The results from the core analysis are extremely positive and confirm that a significant hydrocarbon resource is present in the Gainsborough Trough. Following further detailed analysis, the core results are as follows:SR-01 Upper BowlandSR-01 Lower BowlandOrganic content3.2% (0-8.4%)2.5% (0-6.6%)Maturity (Ro)c. 1.17%c.1.29%Shale thickness179m305mApprox. depth2,109-2,288m2,288-2,593mClay content43%22%Matrix porosity4.8% (1-11%)3.0% (1-9%)Natural fracturingYesYesEstimated GIIP bcf/Sq mile* (Adsorbed and free)*231409*volumetric estimates based on SR-01 data only, no regional data has been incorporated and as such does not account for thickness variations and reservoir heterogeneity within the basin. Secondary (Millstone Grit) and tertiary (Arundian shale) targets excluded.”A presentation including slides on Springs Road -1 core data analysis will be available later today at IGas’ website http://www.igasplc.com/Commenting on these results, Mark Abbott, Managing Director of Egdon Resources plc, said:“We continue to be encouraged by the results from Springs Road-1, particularly the combined Bowland shale gas in place of 640 bcf/square mile (“the resource density”).  This is more than three times Egdon’s previous external estimates of the mean resource density for the entire Bowland Shale section in PEDL139/140 as reported by ERCE in 2014.The results from this extensive modern dataset demonstrate that the Bowland Shale of the Gainsborough Trough, where Egdon currently holds 82,000 net acres (128 square miles), compares favourably with some of the best US commercial shale plays and is potentially world class.   We look forward to sharing further data on the well as it become available, particularly on the secondary target, the tight gas sands of the Millstone Grit”

September 12, 2019

PEDL143 Update

Egdon Resources plc notes the announcement made this morning by UK Oil & Gas PLC (“UKOG”) concerning a two year extension of PEDL143 in the Weald Basin where Egdon has an 18.4% interest:The UKOG release stated;“UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Oil and Gas Authority (“OGA”) has granted a two-year extension to the initial term of the Company’s operated PEDL143 licence (UKOG 67.5%, northern Weald, “A24” prospect). The initial term will now end on 30 September 2022.PEDL143 “A24” ProspectThe licence lies immediately to the west of the Company’s Horse Hill licences (UKOG 85.635%) and contains the significant “A24” Portland and Kimmeridge oil prospect, a direct geological look-alike to the Company’s Horse Hill oil field, situated on-trend some 8km to the east. Several smaller prospects of similar size to the nearby Brockham Portland oil field have also been identified. Multiple potential new drilling sites outside the nearby Area of Outstanding Natural Beauty are under evaluation and drilling is now scheduled to follow directly after the completion of the Company’s 9-well 2019/2020 drilling programme, subject to the grant of necessary regulatory approvals.”

August 20, 2019

Wressle Planning Appeal Update

Egdon Resources plc (AIM: EDR) notes the movement in its share price and the speculation surrounding the Wressle Oil Field. As notified on 29 April 2019, the planning inquiry to hear the Company's appeal against the refusal of planning consent for the development of the Wressle Oil Field by North Lincolnshire Council's Planning Committee is scheduled to commence on 5 November 2019.The Company has been advised that following a closed meeting held by North Lincolnshire Council (“NLC”) on 17 July 2019, a decision has been made that NLC will not be presenting evidence at the Public Inquiry and will withdraw its case in respect of this appeal subject to the agreement of acceptable planning conditions.While the Company considers this to be a very positive development, we still need to obtain planning permission via appeal and the Company remains focused on presenting its case for the Wressle development to the independent professional Planning Inspector in November.

July 29, 2019

Biscathorpe-2 Well Results Update

Egdon Resources plc (AIM:EDR) is pleased to provide a positive update in respect of the Biscathorpe-2 exploration well drilled in Petroleum Exploration and Development Licence PEDL253, located in Lincolnshire, where Egdon holds a 35.8% interest. The Biscathorpe-2 well is located within the proven hydrocarbon fairway of the Humber Basin, on trend with the Saltfleetby gasfield and the Keddington oilfield which produces oil from a Carboniferous Westphalian aged sandstone reservoir (“Westphalian”) and which was the principal target in the Biscathorpe-2 well. The initial well results were reported on 20 February 2019. During drilling elevated gas readings were recorded from the Westphalian and below this over the total 157 metre Dinantian Limestone interval (“Dinantian”) along with the presence of oil shows (pale white blue cut fluorescence) in both Westphalian and Dinantian cuttings samples. The Biscathorpe-2 well was suspended to allow the option for a future side-track to be made following the re-processing and re-mapping of up to 85 square kilometres of existing 3D seismic data.Since reporting the initial well results, further detailed technical analyses of the data from the Biscathorpe-2 well have been undertaken, including an updated petrophysical evaluation by both Egdon and Union Jack’s petrophysical consultants which focussed specifically on the Dinantian. These petrophysical analyses indicated hydrocarbon saturations of greater than 50% within the upper parts of the Dinantian.Union Jack, Montrose Industries Limited, and Egdon Resources plc, also appointed independent geotechnical consultants, Applied Petroleum Technology (UK) Limited (“APT”), to perform a detailed geochemical analysis of drill cutting samples taken from 20 intervals in the Biscathorpe-2 well, comprising five from the Westphalian and 15 from the Dinantian. The objective of the APT analysis was to provide geochemical evidence for the presence of live hydrocarbons together with an estimate of the likely oil quality (the “APT Report”).The APT Report has confirmed the occurrence of hydrocarbons in the Westphalian and Dinantian cutting samples analysed from the Biscathorpe-2 well. The APT Report also confirmed that the data supports the existence of a significant column of good quality oil ( high API gravity), within the Dinantian, validated by the presence of a full suite of gases ranging from methane to pentane (C1 to C5 and nC5) recorded during drilling, all indicative of a working petroleum system in close proximity to the Biscathorpe-2 well.A sample of oil from the nearby producing Keddington oilfield to the east of PEDL253, was analysed as a benchmark for comparison with the hydrocarbons extracted by APT from the Biscathorpe-2 cutting samples.The key results contained in the APT Report are summarised below:

  • Good quality hydrocarbon extracts were obtained from the Westphalian and Dinantian cuttings samples
  • All hydrocarbons extracted appear to be non-biodegraded
  • The hydrocarbons extracted are comparable to those extracted from a known oil-bearing Westphalian interval (Keddington oilfield)
  • APT confirmed the likely presence of a live oil column in the top of the Dinantian interval from approximately 1,980 metres to 2,015 metres (35 metres), with likely residual oil below
  • Data evaluated at the base of the analysed section, and wellsite gas readings, are also suggestive of possible additional hydrocarbon pay below 2,133 metres
  • API gravity results in the Biscathorpe-2 well intervals were as follows:

Westphalian interval35⁰ APIDinantian interval33-34⁰ APIThe results of the APT Report together with re-processed 3D seismic data will be integrated to inform the direction of any potential future side-track of the Biscathorpe-2 well that would target the Westphalian and Dinantian.Commenting on these positive results Mark Abbott, Managing Director of Egdon, said:“The results of the revised petrophysical analysis and the APT Report have upgraded the Biscathorpe-2 well result, confirming the likely presence of a 35 metre column, of good quality oil, within the Dinantian interval.  This along with the elevated gas readings and oil shows over an extended interval in the well are indicative of proximity to an effective petroleum system and validate the potential that exists within the PEDL253 licence area.The primary target reservoir at Biscathorpe, the Basal Westphalian sandstone, was likely absent at the Biscathorpe-2 location and remains untested by the well. Further technical work is planned, including the reprocessing of the existing 3D seismic data, prior to deciding the next steps for the project which could include a side-track of the suspended Biscathorpe-2 well. “We look forward to updating shareholders further once the results of the 3D reprocessing are finalised.”

July 15, 2019

Springs Road-1 SR-01 Shale Exploration Well Results

Egdon Resources plc is pleased to note the announcement made this morning by IGas Energy plc (“IGas”) which summarises the results from the analysis of whole core from the Springs Road-1 (“SR‑01”) well on licence PEDL140, in which Egdon holds a 14.5% interest.The IGas release states;“IGas is delighted to announce highly encouraging core analysis results from its SR-01 exploration well at Springs Road in North Nottinghamshire. The well is a significant step forward in the development of shale gas in the East Midlands. The Springs Road well was drilled as a vertical, cored exploration well in PEDL140 in North Nottinghamshire in the centre of the Gainsborough Trough basin.  The well sought to assess three target zones: the Bowland Shale; the Millstone Grit and the Arundian Shale.  All three targets were encountered, with 429m of hydrocarbon bearing shales encountered within the primary target, the Bowland Shale.  IGas acquired 147 metres of core within the Bowland Shale, the first extensive core sample from this basin, which has subsequently been analysed by Stratum Reservoir (formerly Weatherford Labs) in their laboratories in both the UK and the USA. The results from core analysis are extremely positive and confirm that a significant hydrocarbon resource is present in the Gainsborough Trough.     

  • Total Organic Carbon (TOC): 2 – 7 %, average of c. 3 %
  • Thermal maturity (Tmax): Average of 464°C (wet gas to dry gas window)
  • Total Porosity: 2 – 9 %, average of 4 %
  • Gas Content: 24 – 131 scf/ton, average of 71 scf/ton
  • Average Clay Content: c.30 wt.%

The key characteristics of the Bowland Shale in SR-01 compare favourably to commercial shale operations observed in North America such as the Permian and the Marcellus. The core results indicate a mature, organic rich source rock with good porosity confirming favourable gas resource density.  In particular, the low clay content is encouraging and an indication that hydraulic fracturing of the rock should be effective.The analysis conducted will help delineate the resource potential and help refine the subsequent appraisal programme.  IGas, working with its joint venture partners, will now consider the attributes of the data set in order to commence planning for both the appraisal programme and pilot development within the Gainsborough Trough, including redefining the basin model. We intend to make a further announcement and full technical presentation of the results, including comparison with analogous US shale plays in the third quarter of 2019.Commenting IGas CEO, Stephen Bowler, said “This positive dataset is highly promising and materially advances our understanding of the hydrocarbon resources contained within the shales in the Gainsborough trough where IGas holds a large acreage position.  We were particularly pleased with operational performance during drilling leading to the well costs coming in c.20% under budget.The independent Committee on Climate Change recently reported that by 2050 we will still require some 70% of the gas we currently consume but unless we develop our domestic resources, we will need to import 86% of that gas from overseas.  These results demonstrate that within the East Midlands we potentially have the resources to produce gas, creating jobs and tax revenues whilst reducing our greenhouse gas emissions.”Commenting on these results, Mark Abbott, Managing Director of Egdon Resources plc, said:“The results from this extensive modern core dataset demonstrate that the Bowland Shale of the Gainsborough Trough, where Egdon holds 82,000 net acres, compares favourably with some of the best US commercial shale operations and is potentially world class.  We echo IGas’ satisfaction at the speed and cost of drilling which bodes well for future operations.   We look forward to providing investors with a more detailed update during the third quarter of 2019 once these results have been fully assessed and integrated. ”

June 27, 2019

Correction

Egdon (AIM:EDR) wishes to correct the announcement that it made on 4June 2019 in respect of the Results of Open Offer of 43,330,803 Open Offer Shares (RNS number 0038B).In the tabulation of Directors’ Participation in the Open Offer Mr Walter Roberts is incorrectly reported to have subscribed for 97,375 Open Offer Shares. As his application from his nominee account was not received in time, no Open Offer Shares were allotted to him and his holding therefore remains at 974,129 shares being 0.32% of the enlarged share capital of the Company.

June 5, 2019

Results of Open Offer

Egdon Resources plc (AIM:EDR), announces the results of its underwritten Open Offer of 43,330,803 Shares, which was announced on 15 May 2019 and closed for acceptances, in accordance with its terms, at 11.00 a.m. on 31 May 2019.The Company announces that it has received valid acceptances and excess applications from Qualifying Shareholders for a total of 31,200,612 Open Offer Shares, amounting to 72.01 per cent., pursuant to the terms of the Open Offer.The valid acceptances included the irrevocable commitment to take up (or procure the taking up) of Open Offer Shares from Petrichor Holdings Coöperatief U.A., (“Petrichor”) and Premier Oil plc (“Premier”) (respectively the “Petrichor Committed Shares” and the “Premier Committed Shares” and together the “Excluded Shares”).Pursuant to the Underwriting Agreement, Petrichor has agreed to subscribe for the remaining 12,130,191 Open Offer Shares (the “Underwritten Shares”), being the total number of Open Offer Shares less the Excluded Shares and Open Offer Shares taken up by Qualifying Shareholders, on a fully underwritten basis in exchange for the payment of an underwriting commission of an amount equal to 4 per cent. of the total Issue Price of 23,801,611 Underwritten Shares.Details of the interest of Petrichor, following the Open Offer, in the ordinary share capital of the Company are set out in the table below:As at date of the circularOn AdmissionName Number of Existing Ordinary Shares held% interest of Existing Issued Share CapitalNumber of Open Offer Shares taken up by Petrichor pursuant to the Underwriting Agreement and the UndertakingNumber of Ordinary Shares held% interest in the Enlarged Issued Share CapitalPetrichor77,969,44829.9925,125,098103,094,54633.99At the General Meeting held on 3 June 2019 Shareholders voted to approve the waiver granted by the Panel on Takeovers and Mergers of any requirement under Rule 9 of The City Code on Takeovers and Mergers for Petrichor to make a general offer to shareholders of the Company as a result of the issue of Ordinary Shares to Petrichor pursuant to the Open Offer and Underwriting Agreement, as more fully described in the Circular, sent to Shareholders on 15 May 2019.The net proceeds from the Open Offer (being approximately £1.982 million, after costs of approximately £0.185 million) will be used in the Company’s exploration and appraisal work programme as follows:

  • progress the Gainsborough Trough Shale-Gas assets;
  • progress the Resolution Gas Discovery; and
  • for general working capital purposes.

Directors' Participations in the Open Offer Following the admission of the Open Offer Shares to trading on AIM ("Admission"), the holdings of the Directors in the enlarged issued share capital of the Company will be as follows:RoleNumber of Ordinary Shares currently heldNumber of Open Offer Shares subscribed forHolding following AdmissionPercentage holding of Enlarged Share CapitalPhilip StephensNon-Executive Chairman112,88918,814131,7030.04Mark AbbottManaging Director8,089,3871,303,2309,392,6173.10Martin DurhamTechnical Director----Tim DaviesNon-Executive Director----Ken RatcliffNon-Executive Director169,74327,989197,7320.07Walter RobertsNon-Executive Director and Company Secretary974,12997,3751,071,5040.35Admission to Trading on AIM and Total Voting RightsApplication has been made for the 43,330,803 Open Offer Shares, which will rank pari passu with the Company's issued Ordinary Shares, to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Open Offer Shares will commence at 8.00 a.m. on 6 June 2019.Following the issue of the Open Offer Shares, the Company will have 303,315,625 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 303,315,625 Ordinary Shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.Capitalised terms used but not otherwise defined in this announcement bear the meanings ascribed to them in the circular of the Company dated 15 May 2019.Mark Abbott, Managing Director of Egdon, commented:“We are pleased to have received such a positive response from our existing shareholders to the Open Offer and are encouraged by the  participation of Premier and grateful for the continued support of Petrichor as a long-term major shareholder. Having raised gross proceeds of £2.17 million from the Open Offer, Egdon is now capitalised to deliver on our strategy with a near-term focus  on the Company’s exploration and appraisal work programme  in the Gainsborough Trough, the Resolution Gas Discovery and in progressing the planning appeal for the Wressle Development later in 2019.”

June 4, 2019

Result of General Meeting

Egdon Resources plc are pleased to announce that at the General Meeting of the Company held earlier today in London, the Resolution put to Shareholders was duly passed.

June 3, 2019

Open Offer GM and Production Announcement

View or Download Open Offer GM and Production AnnouncementView or Download Egdon Resources Circular The following is an extract from the Circular available abovePage 51 Part V Additional Information Section 9 Documents on DisplayItemStatusThis Page9.1 this document and accompanying Notice of GMLink9.2 the Memorandum and Articles of Association of the CompanyLink9.3 the annual report and accounts of the Company for the two years ended 31 July 2018 and 31 July 2017Link9.4 Certificate of Incorporation of HEYCOLink9.5 Articles of Association of PetrichorAvailable at Egdon Office9.6 the Directors’ service agreements and letters of appointment referred to in paragraph 3 aboveLink9.7 the material contracts referred to in paragraph 14 of Part 1 aboveRelationship Agreement Underwriting Agreement This Page9.8 the regulatory news service announcements referred to in paragraph 7 of Part 1Link9.9 the irrevocable undertakings referred to in paragraph 6 of Part 1PremierPetrichorLinks9.10 the consent letters referred to in paragraph 7 fromVSA CFEHEYCO PremierPetrichor

May 15, 2019

Wressle Planning Inquiry Date

Egdon Resources plc (AIM: EDR) advises that the Planning Inspectorate has now set the start date of the planning inquiry to hear the Company’s appeal against the refusal of planning consent for the development of the Wressle oil field by North Lincolnshire Council’s Planning Committee on 28 November 2018. The public inquiry will commence on 5 November 2019 with the hearing expected to last up to six days at a venue which has yet to be confirmed. The Planning Inspector will be Mr. Phillip Ware.Mark Abbott, Managing Director of Egdon Resources plc, said:“We look forward to a QC presenting our case for the planning merits of the Wressle development to an independent professional Planning Inspector away from the influence of local politics. We believe that we have a very strong case, supported by detailed evidence and agree with the conclusions of the Council’s own professional planning officer, as reinforced by an expert third party review undertaken on behalf of the Council, who recommended our revised application for approval ahead of the November 2018 decision.”

April 29, 2019

Board Changes

Egdon Resources plc (AIM: EDR) is pleased to announce the appointment of Tim Davies as a Non-Executive Director of the Company with immediate effect. Tim replaces Andrew Lodge who steps down after over seven years on the Board.Tim has over twenty years of experience in the Oil and Gas Sector, with global experience of running major exploration projects. He has held a number of senior positions at Premier Oil plc (“Premier”) and currently holds the position of Group Exploration Manager, a role in which he has driven acquisition and divestment activity to optimise the Premier portfolio. Prior to joining Premier Oil, Tim spent seven years working on global new ventures for ConocoPhillips and Hess. A Fellow of the Geological Society, Tim holds a BSc Hons in Geology and a PhD from Cardiff University.Philip Stephens, Chairman, commented:“I would firstly like to thank Andrew Lodge for his valuable contribution and positive impact during his time on the Egdon board and wish him well in his retirement.  I am delighted to welcome Tim Davies to the board and look forward to utilising his extensive experience and knowledge as our Company enters an exciting stage of development.”Aim Disclosures:Tim Davies, aged 49, currently holds no other directorships and has held none over the last five years. There is no further information required to be disclosed in respect of Tim Davies pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

April 15, 2019

Competent Person’s Report on the Resolution Gas Discovery

Egdon Resources plc (AIM:EDR) is pleased to announce the results of a Competent Person’s Report (“CPR”) prepared by Schlumberger Oilfield UK PLC (“Competent Person”) in relation to the Resolution gas discovery of which Egdon is operator and holds a 100.00% interest in Licence P1929. Schlumberger has made independent estimates of Contingent Gas Resources that can be attributed to the Zechstein reservoir in the 1966 gas discovery made by Total in well 41/18-2 (UK).View or Download Full Press ReleaseSchlumberger Oilfield - Competent Person's Report - Summary Letter

April 9, 2019

Interim Results for the Six Months Ended 31 January 2019

Egdon Resources plc (AIM: EDR), a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, today announces its unaudited results for the six months ended 31 January 2019 (“the Period”).View or Download Full Interim Results Press Release

April 9, 2019

Springs Road-1 Reaches Total Depth

Egdon Resources plc is pleased to report the main points from the announcement made this morning by IGas Energy plc (“IGas”) as they concern the Springs Road-1­ (“SR-01”) well on license PEDL140, in which Egdon holds 14.5% interest:

  • The Springs Road-1 well has reached a total depth of 3,500 metres after encountering all three pre-drill targets – the Bowland Shale, the Millstone Grit and the Arundian Shales.
  • A hydrocarbon bearing shale sequence of over 250 metres was encountered within the upper and lower Bowland Shale (as announced on 11 March 2019). In addition, significant gas indications were observed within the Millstone Grit sequence, deeper parts of the lower Bowland Shale and the Arundian shale.
  • The cores and wireline logs will now undergo a suite of analysis, the first results of which should be available in the second quarter of 2019 and which will give us further insight into the resource potential and shale characterisation that will be utilised for future appraisal and development of the wider East Midlands area.
  • The Springs Road drilling performance has been very encouraging with improved rates of penetration leading to better than anticipated drilling performance and lower costs.

Commenting on the announcement Mark Abbott, Managing Director of Egdon Resources plc, said:“These results from the Springs Road-1 well are highly encouraging, having encountered all three pre-drill objectives and demonstrating the presence of a significant sequence of hydrocarbon bearing shales. We await with anticipation the results of the detailed core and wireline log analysis which will provide additional insight into the resource potential of the Gainsborough Trough where Egdon holds interests in 82,000 net acres. We look forward to updating shareholders in due course.”

March 28, 2019

PEDL 143 Transfer of Operatorship

Egdon Resources plc notes the announcement made this morning by Europa Oil & Gas (Holdings) plc, (“Europa”) on behalf of the operator of the Holmwood Licence PEDL143 (in which Egdon holds an 18.4% interest) that it is in the process of transferring its operatorship of UK onshore licence PEDL143 to UK Oil & Gas Investments plc (‘UKOG’).The Europa release stated;“Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that it is in the process of transferring its operatorship of UK onshore licence PEDL 143 (‘the Licence’) to UK Oil & Gas Investments plc (‘UKOG’). Europa will continue to hold a 20% interest in the Licence, which is located in the Weald Basin, Surrey, alongside UKOG (40%), Egdon Resources plc (18.4%), Angus Energy plc (12.5%), Union Jack Oil plc (7.5%) and Altwood Petroleum (1.6%).The decision to transfer operatorship of PEDL 143 is based on Europa’s focus on its high impact portfolio of exploration licences in Atlantic Ireland, its existing producing assets onshore UK, and the Company’s pursuit of new ventures in its chosen areas of focus, specifically the Atlantic seaboard, North Africa and NW Europe. With its operational activities centred on the Weald Basin, the Company believes UKOG’s direct experience with, and technical knowledge of the Portland and Kimmeridge plays at the nearby Horse Hill discovery, will help inform a forward plan for the Licence. The transfer of PEDL143 operatorship to UKOG is subject to Oil and Gas Authority consent.”

March 14, 2019

Springs Road-1 Operational Update – Over 250 metre Hydrocarbon Bearing Shale Sequence Encountered

Egdon Resources plc is pleased to note the announcement made this morning by IGas Energy plc (“IGas”) which summarises the results from the initial phase of drilling operations at the Springs Road­1 (“SR-01”) well on license PEDL140, in which Egdon holds 14.5% interest.The IGas release stated;“IGas is pleased to announce an update regarding the SR-01 well at Springs Road in North Nottinghamshire.Further to our announcement on 15 February 2019, we have now encountered a hydrocarbon bearing shale sequence of over 250 metres, including the upper and lower Bowland Shale. Significant gas indications were observed throughout the shale section and additionally within sands in the Millstone Grit sequence.   A video showing some recovered core from the well effervescing gas when immersed in water can be viewed here: https://youtu.be/dnZDrTLWiyQ and on the website at www.igasplc.comWe have now completed this phase of data acquisition which included the recovery of approximately 150m of shale core and an extensive wireline logging program across the Millstone Grit, and Upper and Lower Bowland Shale. Petrophysical and core analysis is currently being conducted, which will give us further insight into the resource potential and shale characterisation that will be utilised for future appraisal and development of the wider East Midlands area. We will give a further update following the completion of the majority of the analysis in Q2.Having encountered both primary and secondary targets on prognosis we are now drilling into the tertiary target, to prove up the potential for multiple hydrocarbon bearing horizons within the Gainsborough Trough.The rate of drilling at Springs Road has been quicker than anticipated, building on our learnings and operating efficiencies from Tinker Lane.The analysis of the Tinker Lane core samples is still ongoing.Commenting, Stephen Bowler, CEO said:“I am delighted to report that we have recovered high quality hydrocarbon bearing cores at our Springs Road site. The data gathered to date shows that there are significant prospective resources in our East Midlands acreage and is another important step for the UK onshore industry. There is the potential for the gas beneath our feet to contribute materially to the UK energy needs. Gas is important for our energy requirements, not least because over 80% of the homes across the county are heated by gas. These results come at a time when we are importing more and more gas from overseas and could stimulate investment in the East Midlands basin as well as improving the country’s balance of payments.”Commenting on the announcement Mark Abbott, Managing Director of Egdon Resources plc, said:“These initial results from the Springs Road-1 well are highly encouraging for both PEDL140 and the wider potential of Egdon’s extensive licence portfolio in the East Midlands. We now look forward to the results from the drilling of the deeper sequences in the Springs Road-1 well over the coming weeks and the detailed analysis of the core and log data acquired to date in the coming months. However, these positive results from Springs Road-1 when added to those from Tinker Lane-1 appear to validate our strategic focus on the Gainsborough Trough where the Company holds interests in 82,000 net acres.It is clear from these and other recent results that UK onshore gas has the potential to reduce the UK’s increasing dependency on gas imports over the coming decades, with both economic and environmental benefits to the country.”Link to Gainsborough Trough page

March 11, 2019

Operations Update

Egdon Resources plc (AIM:EDR) is pleased to provide an update on operations following the end of the first half of the Company’s 2018-2019 financial year (“H1 2019”) which ended on 31 January 2019. The Company’s half year results are scheduled to be announced on 9 April 2019.ProductionProduction from the Ceres gas field and the Keddington and Fiskerton Airfield oil fields during the H1 2019 period was 30,026 barrels of oil equivalent (“boe”), at an average of 164 boe per day (“boepd”) (H1 2018 17,962 boe, 98 boepd), in line with previously stated guidance.Production recommenced from the Ceres well in late October 2018 following installation of a new flow meter. Egdon’s gas sales from Ceres since restart over the period from November 2018 to January 2019 has averaged £234,000 per month.Egdon’s total production during January 2019 was 238 boepd, demonstrating the impact of the increased Ceres gas flow.OperationsSprings Road-1As reported on 15 February 2019 drilling operations at Springs Road-1 in the Gainsborough Trough shale play are progressing faster than expected (EDR 14.5% carried). The operator IGas advised that the well has encountered shales including the Bowland Shale on prognosis, at c.2,200 m, and that the coring operation is underway. We are encouraged by the operational performance and provisional descriptions of the Bowland Shale and look forward to IGas Energy plc providing updates as the results from the drilling and coring operations become available.We also note the preliminary gas concentrations that have been reported from the Millstone Grit sequence in the Tinker Lane-1 well which are highly encouraging for the potential gas resource play in the Gainsborough Trough, where Egdon has a significant acreage position in addition to Springs Road.BiscathorpeAs reported on 20 February 2019 preliminary analysis of the Biscathorpe-2 well (38.5% operated interest) indicates that the Basal Westphalian Sandstone target was encountered high to prognosis and was poorly developed at the Biscathorpe-2 location. The Biscathorpe “play” has therefore not been properly tested by the well and potential remains elsewhere on the prospect.The open-hole section has now been sealed with cement plugs and the well suspended to retain the option for a potential future side-track which would require additional consents including planning permission. This will be considered once the new well data is integrated into an updated subsurface model. The drilling rig and ancillary equipment are in the final stages of being demobilised from site.ResolutionWe are in third-party discussions relating to the introduction of an industry partner to fund the planned 3D seismic and appraisal drilling on the Resolution Gas Discovery and hope to be in a position to update shareholders in the coming period. Correspondingly, we are also in discussions with contractors in relation to a potential autumn 2019 3D seismic survey over Resolution. We also anticipate providing an updated resource assessment following completion of an independent competent persons report (CPR).WressleOn 1 February 2019, we submitted to the Planning Inspectorate an appeal against the refusal of planning consent for the development of the Wressle oil field. We have received a swift response to confirm validation of the appeal from the Planning Inspectorate and look forward to confirmation of the inquiry date in due course.On 24 January 2019, we were advised that the Planning Inspector had upheld our appeal to extend the existing planning consent for the Wressle site until 24 January 2020. This provides the required time for the appeal of the development refusal to be concluded.Commenting on current operations Mark Abbott, Managing Director of Egdon Resources plc, said:“I am pleased to report the positive impact of Ceres on our production and cash flow during the period and we look forward to continuing strong production from the field for the rest of the financial year and beyond.We are eagerly anticipating the results from Springs Road-1 where progress to date has been significantly ahead of scheduleandprovisional descriptions of the Bowland Shale, which was encountered on prognosis, are promising. We also note the encouraging preliminary gas concentrations reported from Tinker Lane-1 which are highly positive for the Gainsborough Trough shale play. We will now take some time to integrate the results of the Biscathorpe-2 well into our subsurface models before deciding on how best to progress further exploration on this large prospect.We will also be focussed on obtaining a positive outcome from the Wressle planning inquiry.”

March 3, 2019

Completion of drilling operations Biscathorpe-2

Egdon Resources plc (AIM:EDR) announces the completion of drilling and logging operations at the Biscathorpe-2 exploration well in Petroleum Exploration and Development Licence PEDL253 located in Lincolnshire, where Egdon holds a 35.80% interest.The Biscathorpe-2 well has been drilled to a total depth (TD) of 2,133 metres within the Dinantian Limestone. Logging operations were delayed as the wireline tools were unable to get to TD due to hole conditions and a pipe-conveyed solution had to be mobilised and deployed.Preliminary analysis indicates that the primary objective, the Basal Westphalian Sandstone which was encountered high to prognosis, was poorly developed at the Biscathorpe-2 location and was not thickened with respect to Biscathorpe-1 as expected in the pre-drill model. The Biscathorpe “play” has thus not been properly tested by the well with the results of the well indicating that the Basal Westphalian Sandstone has potential to be more thickly developed to the north and north-east of Biscathorpe-2 location away from what appears to be a more extensive than expected palaeo-high.The well recorded elevated gas readings and oil shows supported by calculated oil saturations in the Dinantian Carbonate over an interval of 99 m indicating proximity to an effective petroleum system. The formation has very low porosity and would not make an effective reservoir. A number of porous sandstone reservoir intervals were encountered in the shallower Westphalian sequence but all were interpreted as water wet.The forward plan is to seal the open-hole section with cement and to suspend the well in order retain the option for a potential future side-track. This will be considered once the new well data is integrated into an updated subsurface model. Any further drilling operation would require additional consents including planning permission.Mark Abbott, Managing Director of Egdon Resources plc, said:“Although the Biscathorpe-2 well did not encounter the thickened Basal Westphalian Sandstone as predicted, we are encouraged by the presence of shows in the underlying Dinantian Limestone which demonstrates a functioning petroleum system and we will now take some time to incorporate the results of the well into our prospect model before deciding on the future strategy for further evaluating the Biscathorpe Prospect.Elsewhere within our portfolio we are encouraged by the rapid progress being made in the drilling of Springs Road-1 where the operator, IGas, has recently advised that they were commencing coring operations in the Bowland Shale.During the coming week we also expect to provide shareholders with a wider operational update ahead of our Interim Results for the six months ended 31 January 2019, which are to be released in April.”

February 20, 2019

Springs Road Update

Egdon Resources plc notes the announcement made by IGas Energy plc (“IGas”) responding to the press article in “The Sun” newspaper which contains details of the highly encouraging results from the Tinker Lane-1 well drilled on the southern margin of the Gainsborough Trough. The announcement also provided an update on the Springs Road-1 well on license PEDL140, in which Egdon holds 14.5% interest. The IGas release stated;“We note the press article today in relation to our Tinker Lane exploration site in North Nottinghamshire.The preliminary tests on shale samples from within the Millstone Grit Group at Tinker Lane are encouraging for the potential gas resources in the Gainsborough Trough basin. The analysis of these samples is still subject to further testing and validation. As previously stated, the well, which is part of a wider exploration programme in the basin, has been plugged and abandoned and preparations are being made to fully restore the site.Drilling operations at Springs Road-1 are progressing well. We have encountered shales on prognosis, at c.2,200 m, including the Bowland Shale horizon and coring will commence imminently. The rate of drilling at Springs Road has been quicker than anticipated, building on our learnings and operating efficiencies from Tinker Lane and augurs well for the future.”Mark Abbott, Managing Director of Egdon Resources plc, said:“Although preliminary, these results are highly encouraging for the Gainsborough Trough shale play and we look forward with anticipation to the results from Springs Road-1 where progress to date has been significantly ahead of schedule”Sun Articlehttps://www.thesun.co.uk/news/8432323/theresa-may-fracking-30-years-gas/

February 15, 2019

Wressle Planning Appeal

Egdon Resources plc (AIM:EDR) is pleased to advise that on 1 February 2019 it submitted to the Planning Inspectorate an appeal against the refusal of planning consent for the development of the Wressle oil field by North Lincolnshire Council’s (the “Council”) Planning Committee on 28 November 2018.The appeal will now be validated by the Planning Inspectorate and a bespoke timetable advised for the appeal process which will lead to a planning inquiry in due course.Mark Abbott, Managing Director of Egdon Resources plc, said:“We look forward to a Planning Inspector considering at a public inquiry our appeal against the refusal in November 2018 of our revised development proposals for the Wressle oil field. We strongly believe that the new proposals for the development of the Wressle oil field comprehensively addressed the reasons highlighted by the Planning Inspector in his dismissal of our original appeals in January 2018. This position was supported by the recommendation for approval given by the Council’s Planning Officer as reinforced by an expert third party review undertaken on behalf of the Council.”

February 5, 2019

Grant of Options

Egdon Resources plc (AIM:EDR) announces that as part of a periodic incentive review it has granted options to the following Directors.DirectorNumber of Options grantedExercise Price (pence)Vesting DateExercisable UntilMark Abbott1,210,1917.85p1 January 20201 January 2030Martin Durham955,4147.85p1 January 20201 January 2030The options were set at an exercise price of 7.85p being the average closing mid-price for the five trading days ended 22 January 2019.Following the grant of the options on 24 January 2019, the interests of the Directors in the share capital of the Company are as follows:DirectorTotal number of Options held over Ordinary SharesNumber of Ordinary Shares heldMark Abbott3,153,2978,089,387Martin Durham2,387,9510 In addition, the Company has granted options to employees on the same basis as Directors. The total number of options granted to Directors and employees of the Company is 4,526,561 (Representing 1.74% of the Company’s issued share capital).The information set out below is in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.1.Details of the person discharging managerial responsibilities/person closely associateda)NameMark Abbott2.Reason for the notificationa)Position / statusManaging Directorb)Initial notification / amendmentInitial Notification3.Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameEgdon Resources plcb)LEI213800WWGH4S9GYSPL774.Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducteda)Description of the financial instrument, type of instrumentOrdinary Shares of 1 pence per share valueIdentification codeGB00B28YML29b)Nature of the transactionGrant of Optionsc)Price(s) and volume(s)Price(s)Volume(s)7.85 pence1,210,191d)Aggregated information— Aggregated volume1,210,191 Ordinary Shares of 1 pence per share value— Price117.85 pence per sharee)Date of the transaction24 January 2019f)Place of the transactionOutside a trading venue1.Details of the person discharging managerial responsibilities/person closely associateda)NameMartin Durham2.Reason for the notificationa)Position / statusTechnical Directorb)Initial notification / amendmentInitial Notification3.Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitora)NameEgdon Resources plcb)LEI213800WWGH4S9GYSPL774.Details of the transaction(s) section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducteda)Description of the financial instrument, type of instrumentOrdinary Shares of 1 pence per share valueIdentification codeGB00B28YML29b)Nature of the transactionGrant of Optionsc)Price(s) and volume(s)Price(s)Volume(s)7.85 pence955,414d)Aggregated information— Aggregated volume955,414Ordinary Shares of 1 pence per share value— Price117.85 pence per sharee)Date of the transaction24 January 2019f)Place of the transactionOutside a trading venue

January 25, 2019

Wressle: Extension of Existing Planning Consent Approved on Appeal

Egdon Resources plc (AIM:EDR) is pleased to advise that its application to extend the existing planning consent for the Wressle site by a year, was approved by the Planning Inspector on appeal yesterday. The original application was refused by North Lincolnshire Council’s (the “Council”) Planning Committee on 1 August 2018, despite having been recommended for approval by the Council’s Planning Officer.This extension to the existing planning consent to 24 January 2020 should allow the required time for the determination of an appeal against the refusal on 28 November 2018 by the Council’s Planning Committee of the Company’s application for the development of the Wressle oil field.Mark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased and encouraged that the Inspector supported our position in relation to this appeal. We look forward to a Planning Inspector considering at a public inquiry our appeal against the refusal in November 2018 of our revised development proposals for the Wressle oil field.  We strongly believe that the new proposals for the development of the Wressle oil field comprehensively addressed the reasons highlighted by the Planning Inspector in his dismissal of our original appeals in January 2018. This position was supported by the recommendation for approval given by the Council’s Planning Officer as reinforced by an expert third party review undertaken on behalf of the Council. We plan to submit the appeal documentation in relation to this in the coming week.” Wressle:The Wressle-1 well was drilled in 2014 and tested in 2015. Egdon Resources has a 30.00% operated interest in the field. The Wressle-1 well has flowed oil and gas from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags. This totalled 710 barrels of oil equivalent per day from all zones. In September 2016 a Competent Person’s Report made independent estimates of Reserves and Contingent and Prospective oil and gas Resources for the Wressle discovery of 2.15 million stock tank barrels classified as discovered (2P+2C). Further information can be found at our Wressle Oil and Gas Discovery page https://www.egdon-resources.com/home/project-sites/wressle/

January 25, 2019

Commencement of drilling operations at Springs Road

Egdon Resources plc (AIM:EDR) notes the following announcement made today by IGas Energy plc (“IGas”) on behalf of the operator of the Springs Road Licence PEDL140, in which Egdon holds 14.5% interest:“IGas is pleased to announce the spud of the Springs Road-1 exploration well at Misson Springs, in North Nottinghamshire.This is the second well that forms part of an integrated exploration and appraisal programme to better define the basin and is located in the central basin area.This exploratory well is a vertical well targeting the Bowland Shale geological formation..”Mark Abbott, Managing Director of Egdon Resources plc, said:“We are delighted that the Springs Road-1 well has now been spudded. This is a key well for Egdon as it will provide the first modern data on the shale and tight gas targets in the Gainsborough Trough - a core area for Egdon - where we have assembled a portfolio comprising 82,000 net acres withan estimated 20 TCF of net undiscovered Gas Initially In Place (“GIIP”).”

January 22, 2019

Board Changes

Egdon Resources plc (AIM:EDR) announces that Jerry Field is to step down from his role as Technical Director of Egdon with immediate effect following his retirement from the Company.Coincident with Jerry’s departure we are pleased to announce that he will be replaced on the Board with immediate effect by Martin John Durham, Egdon’s Exploration Director, who joined the company in September 2014.Martin, aged 62, graduated from the University of Wales in 1978 with a Bachelor of Science Degree in Geology and also holds a Master of Science Degree in Petroleum Geology from Imperial College, London University (1982). Martin has significant industry experience gained through companies including Louisiana Land and Exploration Inc, LASMO Plc, Eni and Northern Petroleum Plc. During this time he has held senior technical and management roles for exploration and field development projects. Martin was a founding director of Union Jack Oil Plc a position he held until his appointment to Egdon in September 2014. Martin is a Fellow of the Geological Society of London and in 2012 he was awarded Honorary Life Membership of the Petroleum Exploration Society of Great Britain (PESGB). Martin currently holds the role of PESGB President.Martin has no direct or indirect interest in ordinary shares in the Company. Martin holds share options in the Company comprising 659,341 shares at 22.75 pence per share and 773,196 shares at 9.7 pence per share. He is currently a director of Egdon Resources U.K. Limited, a subsidiary of the Company and was previously a director of Union Jack Oil Plc between September 2012 to September 2014. He has held no other directorships or partnerships in the last five years.This announcement sets out all of the disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies.Commenting on the changes, Philip Stephens, the Chairman of Egdon said:“Jerry has been a valued member of the Board and executive team since 2011, helping to develop and build the Company’s conventional and unconventional resources acreage position. He was at the forefront of the technical evaluation of our assets resulting in, amongst many other achievements, the Wressle oil discovery and a farmed-out appraisal well at Biscathorpe. We thank Jerry for his significant contribution to the Company and wish him a long and happy retirement”.We welcome Martin to the Board as an executive director and look forward to continuation of his strong contribution to Egdon’s business as we enter a more operational period with the drilling of wells at Biscathorpe-2 and Springs Road-1.“

January 9, 2019

Commencement of drilling operations at Biscathorpe

Egdon Resources plc (AIM:EDR) is pleased to announce the commencement of drilling operations at the Biscathorpe-2 exploration well on licence PEDL253 in Lincolnshire. The Biscathorpe-2 well was spudded today at 12:30 hours.The well will be drilled to a total depth of about 2,100 metres below ground level and is expected to take around 30 days to complete. Biscathorpe-2 will target a combined structural/stratigraphic trap at a depth of over 1,800 metres below Mean Sea Level defined on reprocessed three-dimensional seismic data. The targeted Basal Westphalian sandstone reservoir is expected to thicken at the well location to the north of the crest of the structural high which was drilled by the Biscathorpe-1 well (BP, 1987) which found a 1.2m thick, oil saturated section of the sandstone reservoir. Egdon’s AGM Presentation of 6 December 2018https://www.egdon-resources.com/wp-content/uploads/2018/12/2018-12-06-EDR-AGM-Presentation-Final.pdfprovides further details on the Biscathorpe Prospect, including a cross section and a comparison with the geology of the Reepham field some 20km south west of Biscathorpe, just to the west of our Fiskerton Airfield producing oil field. At the Reepham oilfield, the Basal Westphalian sandstone reservoir thickens dramatically off a ‘structural high’ over a very short distance and a similar development of the target reservoir is expected at Biscathorpe-2.The chance of success for Biscathorpe-2 is estimated as 40% and the range of Prospective Resources (as estimated by Egdon) is tabulated below.P90P50P10MeanOil in Place (mmbo)7.5229.50142.0056.00Prospective Resources (mmbo)1.847.3035.3014.00Net to Egdon 35.8% interest (mmbo) 5.0Following several previously reported farm out transactions by Egdon and Montrose Industries Limited, the current licence interests and expected paying interests* for the well are listed below:Egdon Resources U.K. Limited (Operator) 35.80% (23.29% share of well cost*)Montrose Industries Limited 22.20% (13.34% share of well cost*)Union Jack Oil Plc 22.00% (37.17% share of well cost*)Humber Oil & Gas Limited 20.00 % (26.25% share of well cost*)(*at the current estimated well cost)For clarity, the operations at the Biscathorpe-2 wellsite will not, either now or in the future, involve the process of High Volume Hydraulic Fracturing for shale gas.Mark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased to report the start of drilling at Biscathorpe-2, one of the largest remaining un‑appraised oil prospects onshore UK. In addition to the defined structural closure, stratigraphic trapping - if present - could lead to significant upside for oil resources. We look forward to updating shareholders with the preliminary results from the well in early-February. “

January 7, 2019

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