2022

Please find via the link below an announcement relating to a recommended cash acquisition of Egdon Resources plc by Petrichor Partners, LP to to be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006

‍

Egdon Resources plc (AIM:EDR), the UK  focused energy company, is pleased to announce that it will provide a live presentation relating to the company’s Interim Results via the Investor Meet Company platform on 24th Apr 2023 at 10:00am BST.

‍

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.

‍

Investors can sign up to Investor Meet Company for free and add to meet EGDON RESOURCES PLC via:

‍

https://www.investormeetcompany.com/egdon-resources-plc/register-investor

‍

Investors who already follow EGDON RESOURCES PLC on the Investor Meet Company platform will automatically be invited.

‍

Ahead of the release of the Company’s interim results on 24 April 2023, Egdon Resources plc (AIM:EDR), the UK Energy Company, is pleased to provide a summary trading update in relation to the six months period ending 31 January 2023 (the “Interim Period”).

• Production for the Interim Period was up by 27% to 46,465 barrels of oil equivalent (“boe”) equating to a rate of 253 boe per day (“boepd”), ahead of full-year guidance of 225-245 boepd (H1 2022: 36,714 boe and 200 boepd)

• Unaudited revenue for the Interim Period was up 46% to £3.725 million (H1 2022: £2.551 million)

• As at 31 January 2023 the Company had cash and cash equivalents of £5.524 million (H1 2022: 2.084 million) and net current assets of £7.334 million (H1 2022: 1.165 million)

The Company is continuing to make good progress across its conventional assets and particularly in relation to the near-term operational objectives set out in the 2022 annual report. Production continues to be strong, particularly from Wressle, where Egdon has also progressed with the gas utilisation and monetisation scheme through the installation of the micro-turbines – which will eliminate routine on site diesel generation - and where work is ongoing on the gas to wire project. The Company is progressing towards submitting planning and permitting for further development at Wressle and finalising a programme of drilling in our exploration and development/redevelopment projects for 2023-24.  Egdon is also making good progress on a potentially material renewable energy, green hydrogen and energy storage project.

Commenting on the trading update, Mark Abbott, Managing Director of Egdon, said:

“We continue to generate material revenues from the strong performance of our UK producing assets.  This has led to a strengthening of the balance sheet to support the planned 2023-24 operational programme.

With the business in good health, I look forward to providing shareholders with a more detailed update on the Company’s financial and operational performance on the 24th April.”

‍

Egdon Resources plc (AIM:EDR) the UK Energy Company is pleased to provide an update on operations at the Wressle oil field following the Community Liaison Group (“CLG”) meeting held during the evening of 15 March 2023.

‍

At the meeting the following information was shared with members of the CLG:

Operations

‍

• The Wressle-1 well has continued to flow oil and associated gas at production rates above forecast expectations made ahead of the successful Proppant Squeeze operation, conducted in August 2021

• Total production from Wressle has now exceeded 390,000 barrels of oil

• No water has been produced to date

• Three microturbines were connected during January and February and are now fully operational

• An extended period of fine tuning and testing of the microturbines to determine the impact on production is currently ongoing

• The Environment Agency continues to monitor Egdon’s production operation through regular visits to the Wressle site, the most recent being on 22 February 2023, with no issues identified by the Regulator

• There have been no accidents or spillages since the start of production on the Wressle site in January 2021

• Groundwater and surface water monitoring has continued and latest results up to end December 2022 have been published on Egdon’s newly revamped community website www.egdon-community.com/active-sites

‍

Forward Plan

‍

• During the second half of 2022 Egdon reprocessed the 3D seismic data over the field

• The new data has been interpreted and mapped with the objective of identifying reservoir targets for drilling an additional well or wells at the earliest opportunity, subject to receipt of regulatory approval

• The next new well or wells will likely be drilled from the existing Wressle wellsite

• A new Competent Person’s Report has been commissioned incorporating the new field interpretation and production performance data.  This will consider all oil and gas bearing formations at Wressle.

‍

Community Fund

‍

• The Wressle Community Fund has been operating since early 2022

• In August 2022, the operation of the fund was transferred to Broughton Community and Sports Association (BCSA) which runs the fund to meet the needs of local charities and community groups

• Groups which are outside the remit of the BCSA can still apply directly to Egdon for funding from a smaller pot which is retained to meet these needs

• The Wressle partners are making £100,000 a year available to local groups though these two funding pots

• The first of three windows per year for the Wressle Community Grant closed on 31 December 2022 with 12 applications received amounting to £42,029.60

• The Wressle partners provided additional funding of c. £5,500 to allow all eligible applications to be granted.

‍

In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, at 28 February 2023 the total number of Ordinary shares of 1p of the Company in issue is 543,983,031.

‍

The above figure may be used by 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 Disclosure Guidance and Transparency Rules.

‍

The Company does not hold any shares in Treasury.

‍

‍

Egdon Resources plc (AIM:EDR) is pleased to advise that further to the announcement of 20 December 2022 it has completed the acquisition of the entire issued share capital of Aurora Production (UK)Limited (“Aurora Production”) from Aurora Petroleum Limited (the “Vendor”).

‍

Aurora Production is a private company, which holds an 18.75% interest in the Edgon operated licence PL090 which contains the Waddock Cross oil field and an 8.33% interest in the IGas operated licence PEDL070which contains the Avington oil field.

‍

Egdon’s interest in the Waddock Cross oil field (PL090)increases to 73.75% and to 56.04% in the remaining parts of PL090 (excluding the Waddock Cross oil field). Waddock Cross is currently shut-in.  Independent reservoir modelling has shown that a new horizontal well on the field could yield commercial oil production (500-800 bopd). Given the significant mean in-place oil volume of c. 57 million barrels, this asset has been high graded by Egdon for redevelopment.

‍

Egdon has increased its holding in the Avington oil field to 36.33%.  Avington remains shut-in, with work ongoing to redevelop the field during H1 2023.

‍

Egdon estimates that the transaction adds approximately 0.614 million barrels of Best Estimate Contingent and Prospective Resources of oil to its resource inventory.

‍

The consideration for this acquisition is the assumption by Egdon of all ongoing liabilities on these licences, including all abandonment liabilities, from the commercial date of the transaction, which is 30 September2022.

‍

As part of the transaction Egdon has received a cash sum from the Vendor of £0.288 million, less the interim period costs, which reflects the current estimate in relation to the abandonment liabilities. Aurora Production has also granted Net Profit Interests to the Vendor of 10% on each of the licence interests.  In the event that profitable production is established, the Vendor will be reimbursed the £0.288 million.

‍

Aurora Production also has accumulated upstream ringfenced tax losses of ca. £90 million that should be available to offset tax on future profits.

‍

Commenting on the acquisition, Mark Abbott, Managing Director of Egdon said:

‍

“We are pleased to have completed this acquisition, which builds on our existing interests in the Waddock Cross and Avington oil fields. Both assets have active plans in place to rejuvenate oil production.  The acquisition therefore adds potential for near-term incremental production, adds to our resource base and delivers substantial tax losses that may be utilised to offset future taxes.”

‍

Egdon Resources plc (AIM:EDR), the UK Energy Company, is pleased to advise that it has entered into a Farmout Option Agreement (the “Agreement”) with York Energy (UK) Holdings Limited (“York”) relating to onshore Production Licence PL081 (the “Licence”) in North Yorkshire.

‍

The Licence contains the Weaverthorpe Prospect (“Weaverthorpe”). Weaverthorpe is a relatively shallow Bunter Sandstone (Triassic) prospect located immediately up-dip of interpreted gas pay in the Fordon-2 well (drilled by BP in 1974). Egdon’s initial evaluation indicates an estimated Mean prospective gas resource of 58 billion cubic feet.

‍

Under the terms of the Agreement Egdon has a period of six months from 3 February 2023 to elect to farm into the Licence (the “Option”). During the Option period, Egdon will undertake additional technical and operational work to de-risk the opportunity, including reprocessing of the vintage 2D seismic data and integration of this with the existing 3D seismic data which defines the western part of the prospect.

‍

As consideration for the grant of the Option, Egdon will pay 100% of the 2023 licence fees.

‍

Should Egdon exercise the Option, it will earn a 70% interest in the Licence and assume operatorship. As consideration Egdon will pay 100% of the costs associated with the planning, drilling, logging, and either short term testing and completion or plugging and abandonment of a well to test the Weaverthorpe Prospect.

‍

In addition, on exercise of the Option, Egdon will pay York a cash sum of £100,000, less any licence fees that were paid by Egdon for 2023.

‍

York has an agreement with the current operator, Third Energy UK Gas Limited (“Third”), entitling it to be assigned the entire legal and beneficial interest in PL081. Egdon will pay 100% of the costs associated with the transfer of the Licence from Third to York and to Egdon (Such transfer being subject to NSTA approval.)

‍

Commenting on the Agreement Mark Abbott, Managing Director of Egdon, said:

‍

“This farmout option for the Weaverthorpe Prospect represents a significant opportunity for Egdon to increase its exposure to a potentially material gas resource at a time when the UK’s reliance on imported energy has come into sharp focus.  

‍

The deal structure secures the opportunity at low cost whilst we undertake additional technical due diligence through the application of modern seismic processing technology.  

‍

We look forward to updating shareholders on this exciting opportunity over the coming period.”

‍

Egdon Resources plc (AIM: EDR) the UK Energy business is pleased to announce that at the Annual General Meeting held at 11.30 hours today all the resolutions proposed in the notice of the meeting were duly passed.

‍

A business update presentation was made immediately following the AGM and is now available on the Company's website www.egdon-resources.com

‍

The detailed voting results and proxy appointments arein the link below:

Revenue

The Company’s revenue continue to be strong with unaudited revenue for the five-month period from August to December 2022 of £3.08 million (2021: £2.07 million).

‍

Operations

Progress is being made across Egdon’s entire portfolio of assets, highlights include:

‍

Wressle

·        Cumulative oil production of more than 341,100 barrels to 12 January 2023, with no water

·        Current daily production rate of approximately 825-850 barrels of oil per day (“bopd”), however, a daily rate of in excess of 1,000 bopd was achieved in late December 2022, following a four day shut-down

·        Three microturbines have been delivered to site and installation and commissioning is ongoing

·        The microturbines will generate all site electricity and are expected to enable up to a 20% uplift in oil production

·        3D seismic reprocessing completed and new field interpretation being finalised to confirm final target locations for future appraisal and development drilling

·        New Competent Persons Report to be commissioned incorporating the new field interpretation and exceptional production performance

·        Planning and permitting process for Penistone Flags development has commenced

·        Drilling of a Penistone Flags development well is planned for H2 2023, subject to receipt of regulatory and planning consents

·        Progressing gas to wire, and gas export options to generate further revenue streams and to eliminate gas incineration at Wressle

‍

Keddington

·        Reprocessing of existing 3D seismic data currently being finalised to inform final sub-surface location for a side-track well to target around 160,000 barrels of incremental oil production

·        Planning consent and permits in place to enable drilling during H2 2023

Avington

·        All planning conditions have been discharged and the operator is planning to restart production during H1 2023

·        Egdon will increase its interest in the field to 36.33% on completion of the acquisition of Aurora Production Limited

Waddock Cross

·        Egdon will increase its interest in the field to 73.75% on completion of the acquisition of Aurora Production Limited

·        Planned redevelopment of the Waddock Cross oil field

·        The Company is progressing planning and permitting to secure consents for drilling with the target of H1 2024

‍

Biscathorpe

·        A Planning Hearing was held on 11 October 2022 and the Inspector’s decision is awaited

·        Preparations for drilling in H2 2023 would follow from a successful planning appeal

‍

North Kelsey

·        Egdon submitted a planning appeal in August 2022 and we have been informed that the appeal will be held as a Hearing with the detailed timing awaited from the Planning Inspectorate  

‍

Resolution and Endeavour (P1929 and P2304)

·        Shell has completed its withdrawal from the P1929 licence and Egdon is now operator with a 100% interest

·        P2034(Endeavour) was surrendered in November 2022

·        The nearby, analogous Pensacola Prospect has discovered gas and a testing programme is underway

‍

Updated Corporate Presentation

An updated corporate presentation, including updates as detailed above, will be made following the AGM and will be available on the Company's website at www.egdon-resources.com

‍

Mark Abbott, Managing Director of Egdon, commented:

‍

“Egdon continues to generate strong revenues from its UK producing assets with Wressle being the standout asset, performing ahead of expectations. We anticipate a further uplift in production at Wressle in the near future once the microturbines are fully commissioned and operational. We are actively progressing planning and permitting for the development of the Penistone Flags reservoir, which along with the associated gas to grid project will result in a further material uplift in production and revenues.

‍

Elsewhere, we are progressing our plans for a drilling campaign during the next 12 to 24months designed to further increase our production and revenue and funded from the material cash flow being generated from our existing production.”

‍

Egdon Resources plc advises that updated and corrected documentation has been produced in respect of the Annual General Meeting (“AGM”) of the Company to be held on Tuesday 17 January 2023 at 11.30 a.m. at the offices of Norton Rose Fulbright, 3 More London Riverside, London SE1 2AQ, United Kingdom.

‍

Notice of availability of these documents has been sent to members and these documents are available on the Company’s website at www.egdon-resources.com.

‍

Any proxies already submitted will remain valid for the AGM unless superseded by a new proxy.

‍

Egdon Resources plc (AIM:EDR) is pleased to announce that it has signed a conditional agreement to acquire the entire issued share capital of Aurora Production (UK) Limited (“Aurora Production”) from Aurora Petroleum Limited (the “Vendor”). Aurora Production is a private company, which holds an 18.75% interest in the Edgon operated licence PL090 which contains the Waddock Cross oil field and an 8.33% interest in the IGas operated licence PEDL070 which contains the Avington oil field.

‍

The consideration for this acquisition will be the assumption by Egdon of all ongoing liabilities on these licences, including all abandonment liabilities.  However, as part of the transaction Egdon shall receive a cash sum from the Vendor of £0.288 million which reflects the current estimates in relation to these liabilities.  Aurora Production will at the completion of the transaction grant Net Profit Interests to the Vendor of 10% on each of the licence interests which, in the event that profitable production is established, will result in the Vendor being reimbursed the sum it gave Egdon to cover the abandonment liabilities for such licence.

‍

Aurora Production has accumulated upstream ring fenced tax losses of ca.£90 million that should be available to offset tax on future profits. The commercial date of the transaction will be 30 September 2022. The transaction is subject to approval of the change of control by NSTA and the other licensees.

‍

Egdon has an existing 55% operated interest in the Waddock Cross oilfield (PL090) which will increase to 73.75% on completion. In addition, Egdon will increase its interest in the remaining part of PL090 (excluding the Waddock Cross oil field) from 42.50% to 56.04%. Waddock Cross is currently shut-in.  Independent reservoir modelling has shown that a new horizontal well on the field could yield commercial oil production (500-800 bopd). Given the significant mean in-place oil volume of c.57 million barrels, this asset has been high graded by Egdon for redevelopment.

‍

Egdon will increase its holding in the Avington oil field from 28.00% to 36.33%.  Avington remains shut-in but planning consent to restart production was granted on appeal in December 2021. The forward plan is to redevelop the field during 2023 with longer term plans to include establishing on site water handling facilities.

‍

Egdon estimates that the transaction covering both licences will add approximately 0.614 million barrels of Best Estimate Contingent and Prospective Resources of oil to its resource inventory.

‍

Commenting on the acquisition, Mark Abbott, Managing Director of Egdon said:

‍

“This acquisition builds on our existing interests in the shut-in Waddock Cross and Avington oil fields. Both assets have active plans in place to rejuvenate oil production.  The acquisition therefore adds potential for near-term incremental production, adds to our resource base and delivers substantial tax losses that may be utilised to offset future taxes.”

‍

Egdon Resources plc advises that the Annual General Meeting (“AGM”) of the Company scheduled to be held on Tuesday 13December 2022 at 11.30 a.m. is to be postponed and will now be held on Tuesday17 January 2023 at 11.30 a.m. at the offices of Norton Rose Fulbright,3 More London Riverside, London SE1 2AQ, United Kingdom.

The original notice of the AGM was sent to Shareholders on 17 November 2022. Since then the RMT union has announced a series of 48-hour rail strikes for 13-14 and 16-17 December and 6-7January 2023. The AGM has to be held before the end of January 2023 and your Board believes that it is in the best interests of all stakeholders that this flexibility should be used to postpone the AGM to a date which is, at least at the moment, not scheduled to be affected by any such strike action.

A detailed notice for the postponement and rescheduled AGM, along with a revised Form of Proxy is being sent to members and these documents will be available on the Company’s website at www.egdon-resources.com.

Save for the new date for holding the AGM, the date when the Register of Members will close and the date by which proxies need to be lodged, all details of the earlier notice of 17 November 2022 remain unchanged.

Proxies already submitted will remain valid for the new date of the AGM unless superseded by a new proxy.

The Board regrets any inconvenience caused.

‍

Egdon Resources plc is pleased to announce that its 2022 Annual Report and Accounts and AGM Documentation are now available on its website at www.egdon-resources.com.To access the documents, select Shareholder under the Investors dropdown list or alternatively, use the following link at www.egdon-resources.com/investors-2/shareholder-communication.  

‍

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 preliminary results for the year ended 31 July 2022.

‍

Operational and Corporate Highlights

Egdon net production during the period increased by 160% to 84,894 barrels of oil equivalent (“boe”) equating to 233 boe per day (“boepd”) (2021: 32,686 boe, 90boepd).

Wressle production has significantly exceeded forecast expectations with average gross production during the period of 656 barrels of oil per day (“bopd”) at rates constrained by the EA Permit limits for gas disposal and with zero water production to date.

The Ceres gas field is providing a late life renaissance due to the high gas price and low operating costs.

Following the refusal of planning permission in November 2021 for the drilling of aside-track well, testing and long-term production at the Biscathorpe project, an appeal was submitted in April 2022.

On 8 March 2022 a revised incentive package was put in place for all employees through the issue of new share options and the cancellation of all historical share options.

On 14 March 2022, planning permission was refused to extend the existing consents to drill the North Kelsey-1 exploration well and an appeal was submitted in April 2022.

On 5 April 2022, the Government announced that it had commissioned the British Geological Survey to advise on the latest scientific evidence around shale-gas extraction.  Report delivered to BEIS on5 July 2022.

During April 2022, Shell advised Egdon of its intention to withdraw from licencesP1929 and P2304, containing the Resolution and Endeavour gas discoveries. Egdon applied to the NSTA for an extension of time to complete the 3D seismic programme.

Egdon has assumed the operatorship of PEDL343, increased its equity to 40% and agreed an extension to 20 March 2024. PEDL343 contains the Cloughton gas discovery.  

LicencesPEDL202 and PEDL130 were relinquished during the period.

‍

Financial Performance

Oil and gas revenues increased by over 530% during the period to £6.91 million (2021: £1.09 million) as a result of significantly increased production and strengthening commodity prices.

Earnings before interest, tax, depreciation, amortisation, asset impairments, impairment reversals and write-downs were £4.67 million (2021: loss of £0.72 million).

Post tax profit for the period of £3.30 million including£1.40 million of impairment reversals, £1.80 million of impairments and £0.15million of write-downs and pre-licence costs (2021: loss of £1.68 million including £0.48 million of write-downs, pre-licence costs and impairments).

Basic earnings per share of 0.64p (2021: loss per share of0.51p). Diluted earnings per share of 0.57p (2021: loss per share of 0.51p).

Net current assets of £4.90 million (31 July 2021: £0.14) of which cash and cash equivalents were £4.80 million (31 July 2021: £1.96million).

The Company has no borrowings following the repayment of a£1 million loan during May 2022.

Subsequent Events

On 8 August 2022 the North Kelsey Planning appeal documentation was submitted.

On 8 September 2022 the Government announced the lifting of the moratorium on hydraulic fracturing for shale-gas.

Egdon was advised in October 2022 that the NSTA had consented to Egdon’s request for a twelve-month extension to the P1929 licence obligation to acquire the 3D seismic. Egdon will now engage with the NSTA to confirm the detailed expectation in relation to this and subsequent timelines. Should the 3D survey not be acquired by April 2023, P1929 will determine in May 2023. Licence P2304 will be relinquished.

A hearing was held on 11 October 2022 in relation to the Biscathorpe planning appeal and we now await the Planning Inspector’s decision.

On 27 October 2022 the Government reintroduced the moratorium on hydraulic fracturing for shale-gas.

Coincident with the release of its Preliminary Results, the Company has updated its corporate identity and released a new website (https://www.egdon-resources.com/).

Outlook

Post-period-end production and revenues have continued to be strong with unaudited August to October 2022 revenues of £2.07million.

The key operational focus for the coming period will be:

Maintaining and enhancing the strong production performance at Wressle whilst progressing both the gas monetisation and Penistone Flags development as priorities.

To add reserves, production and revenues through the drill-bit in both our exploration and development/re-development projects.

To progress energy storage, hydrogen and renewable generation projects.

Audiocast

The Company will host a live audiocast of the Results Presentation via the Investor Meet Company at 10:00am on 8 November. Investors can sign up to Investor Meet Company for free and add to meet EGDON RESOURCESPLC via: https://www.investormeetcompany.com/egdon-resources-plc/register-investor

‍

Commenting on the Results Egdon’s Chairman, Philip Stephens said;

“Egdon has been transformed over the past year through growing revenues and with a significantly improved outlook and operating environment.  

The highlight has been the outstanding performance of the Wressle oil field which along with production from our existing fields and high oil and gas prices has resulted in a strong financial performance.

Despite the reintroduction of the moratorium on shale-gas by the Sunak led government, we will continue to make the case for the strategic importance that shale-gas could make to the UK’s economy and security of supply.

In the meantime, Egdon will focus on progressing its conventional oil and gas business and nascent energy transition projects to continue delivering long term value toits shareholders.”

‍

Download and view full announcement:

‍

In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, at 31 October 2022 the total number of Ordinary shares of 1p of the Company in issue is 543,683,031.The above figure may be used by 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 Disclosure Guidance and Transparency Rules.The Company does not hold any shares in Treasury.

The directors of Egdon Resources plc (AIM:EDR), a UK focused energy company, note yesterdays Written Ministerial Statement (WMS) from the Rt Hon Grant Schapps MP, Secretary of State for theDepartment of Business, Energy and Industrial Strategy, in which he reintroduced the moratorium on hydraulic fracturing for shale-gas.Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:“This is a highly disappointing and illogical move by the Government, just a few weeks after lifting the moratorium and at a time of an ongoing energy supply and cost crisis. The decision prevents the immediate development of a safe and secure indigenous source of gas and if maintained, locks the UK into long term reliance on more carbon intensive LNG imported from Qatar, the shale-gas fields of the USA and elsewhere.We will continue to make the scientific and commercial case that shale-gas should be part of the long-term solution to the UK’s energy needs and that this can be done in a safe and environmentally sustainable manner whilst delivering material economic and geopolitical benefits for the UK.Our shareholders can take some comfort from the fact that throughout this chaotic period of government, Egdon’s core conventional oil and gas business has continued to generate strong revenues and cash flow and that the fundamentals of the business remain strong.”

Egdon Resources plc (AIM:EDR), a UK focused energy company, will announce its preliminary results for the year ended 31 July 2022 on 8 November 2022.AudiocastThe Company will host a live audiocast of the Results Presentation via the Investor Meet Company at 10:00am on 8 November.The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.Investors can sign up to Investor Meet Company for free and add to meetEGDON RESOURCES PLCvia:https://www.investormeetcompany.com/egdon-resources-plc/register-investorInvestors who already followEGDON RESOURCES PLCon the Investor Meet Company platform will automatically be invited.

View or Download TR-1 Harbour Energy plc

View or Download TR-1

In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, at 30 September 2022 the total number of Ordinary shares of 1p of the Company in issue is 543,318,656.The above figure may be used by 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 Disclosure Guidance and Transparency Rules.The Company does not hold any shares in Treasury.

The directors of Egdon Resources plc (AIM:EDR), a UK focused energy company, welcome the Written Ministerial Statement (WMS) from the Rt Hon Jacob Rees-Mogg MP, Secretary of State for the Department of Business, Energy and Industrial Strategy in which he confirmed the lifting of the moratorium on shale gas extraction and the Government’s commitment to reviewing shale gas policy.Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:“The WMS is an important first step by the Government in delivering this nationally important resource. We look forward to working positively with Government to develop the right regulatory environment to realise the potential of indigenous shale gas, which in contrast to a growing reliance on imports, could have a positive impact on the UK’s energy security whilst delivering environmental, fiscal and community benefits and thousands of well paid, skilled jobs.”Written Ministerial Statement on Shale Gas Extraction

The directors of Egdon Resources plc (AIM:EDR), a UK focused energy company, welcome today’s announcement by the Prime Minister, Liz Truss, of the lifting of the moratorium on hydraulic fracturing for shale gas which was introduced in November 2019.Commenting on today’s announcement, Mark Abbott, Managing Director of Egdon Resources plc, said:“The lifting of the moratorium is a logical and pragmatic response to the new geopolitical reality and the new Government should be congratulated on the speed and foresight of its action. In contrast to a growing reliance on imports, the development of indigenous shale gas could have a positive impact on energy security, gas prices and the UK’s balance of payments, whilst delivering tax revenues, business rates, community benefits and thousands of well paid, skilled jobs. Importantly shale-gas can also play its part in delivering the goals of Net Zero and the Energy Security Strategy.With Egdon’s material shale-gas position, we now look forward to working positively with Government and local communities to deliver this nationally important resource in a timely fashion.”

Egdon Resources (AIM: EDR) is pleased to advise the submission of an appeal against the refusal by Lincolnshire County Council in March 2022 of an extension of time to the existing planning permission for the drilling and testing of a conventional exploration well at the North Kelsey site in PEDL241.Egdon holds a 50% interest and is operator of PEDL241.The appeal documentation has been submitted to the Planning Inspectorate (“PINS”) and the appeal will now be validated by PINS before an inspector is appointed and a timetable defined. The expectation is that the appeal will be decided under the Written Representation Procedure, a process where PINS will consider written evidence from the appellant, the local planning authority and other interested parties.

In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, at 31 July 2022 the total number of Ordinary shares of 1p of the Company in issue is 525,242,031.The above figure may be used by 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 Disclosure Guidance and Transparency Rules.

View or Download TR1

Egdon Resources plc (AIM:EDR), a UK focused energy company, announces that an application has been made to the London Stock Exchange plc for a block listing of securities in respect of 49,299,000 ordinary shares of £0.01 each (the 'New Ordinary Shares') to be admitted to trading on AIM.The New Ordinary Shares will be issued from time to time in order to satisfy the remaining outstanding warrants which may be exercised. It is expected that admission will become effective on 8 July.The block listing consists of 49,299,000 ordinary shares in respect of the remaining outstanding warrants granted in July 2021 as part of the Company’s £1.44 million fundraise through the issue of 115,228,000 new ordinary shares at a price of 1.25 pence per share. As part of this raise, each two subscription shares were granted a right to subscribe for one new ordinary share at a price of 2.5 pence per share (the “warrants”). The warrants are exercisable at any time until 23 July 2023.For the avoidance of doubt these applications are not applications to list the warrants themselves on any regulated market but merely an administrative measure to ensure that the Company does not need to make multiple applications for admission of ordinary shares to trading on each separate occasion when the existing warrants are exercised by holders. There are no changes to the terms and conditions of the warrants.Following the Block Admission, the Company's issued share capital will remain unchanged at 525,092,031 ordinary shares. The Company will make six-monthly announcements of the utilisation of the Block Admission, in line with its obligations under AIM Rule 29.When issued, the New Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of £0.01 each in the capital of the Company.

Egdon Resources plc (AIM:EDR) was notified on30 June 2022 that as a result of transactions which took place on 24 June 2022, the shareholdings held by Petrichor Holdings Cooperatief U.A.(”Petrichor”) and other members of the Concert Party have now been transferred to Petrichor Partners LP (“PPL”) as the registered holder of the 237,924,452 Ordinary Shares in Egdon representing 46.04 per cent of the issued ordinary share capital in Egdon. The shareholdings held by members of the Concert Party were transferred to PPL at the Egdon Ordinary Share price at the close of business on 23 June 2022, being 4.35 pence. Under Rule 17 of the AIM Rules for Companies, this change of registered holding represents a “Relevant Change” requiring announcement.The resulting PPL shareholding and percentage holding equates to the shareholding and percentage held by the Concert Party which was announced following the issue of equity and conversion of Convertible Loan Notes in June 2021.A Whitewash was granted by the Takeover Panel in January 2021 when the Convertible Loan Notes were issued to members of the Concert Party on the basis of a fully diluted shareholding of 46.04 per cent.Background on the Concert PartyVSA Capital Limited, the financial adviser and joint broker to Egdon, previously wrote to the Takeover Panel in 17 November 2020 and 24 June 2021 on behalf of Egdon in relation to the Concert Party. The Concert Party is made up of the following members:-Concert PartyNumber of Ordinary Shares in the capital of Egdon (“Ordinary Shares”)% of Issued Share Capital¹Petrichor Holdings CoöperatiefU.A. (“PHC”)132,676,24525.67PPL89,679,45417.35Jalapeno Corporations Holding(“Jalapeno”)15,503,1193.00Steven Jackson65,6340.01TOTAL237,924,45246.04¹ Based on the latest information published by Egdon on 31 January 2022.PHC, a company registered in the Netherlands, is a subsidiary of HEYCO (registered in Delaware, USA). HEYCO owns over 99% of the share capital of PHC, and the remaining less than 1% is owned by Petrichor Partners-Delaware, LP, a limited partnership registered in Delaware, USA. Petrichor Partners-Delaware, LP is directly and wholly owned by HEYCO.HEYCO’s majority shareholder is Explorers Petroleum Corporation of which George Yates is the ultimate controller.PPL is owned by various limited partners and the general partner of PPL is HEYCO International, Inc. (“HINT”), a 100% wholly owned subsidiary of HEYCO.The amended and restated partnership agreement dated 11 June 2021 of PPL entered into between the limited partners (“Partnership Agreement”) gives the general partner the authority to make investment decisions for PPL without the input of the limited partners.Jalapeño’s President is Harvey E Yates Jr, George Yates’ brother.Steven Jackson is a long-time family friend and business associate of the Yates family. Steven Jackson is also a limited partner in PPL and a party to the Partnership Agreement.Takeover PanelPetrichor’s advisers have approached the Takeover Panel (“Panel”) to obtain a waiver from a potential need to make a general offer for all Egdon Ordinary Shares not held by them at the price at which the transfer took place. The basis of this is Note 4 to Rule 9.1 which provides for such relief to be granted, subject to the Panel’s consent, in circumstances where there are transfers between Concert Party members and the result is not to alter the practical effect of the existing arrangements. In this case the general partner will remain Heyco International and the ultimate controller is Heyco, a Delaware corporation.WarrantsIn July 2021 the Company raised £1.44 million through the issue of 115,228,000 new Ordinary Shares at a price of 1.25 pence per share. In addition, each two subscription shares were granted a right to subscribe for one new Ordinary Share at a price of 2.5 pence per share, (a “Warrant”). All members of the Concert Party were subscribers in July 2021 and were accordingly issued with Warrants. At the same time as the transfer of the Concert Party’s ordinary shares to PPL, the Concert Party have transferred their holdings of Warrants to PPL. As a result PPL now holds 26,524,000 Warrants. At the date hereof 49,299,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.TR-1 Forms follow belowShareholdings in PPLAfter Consolidation Final Shares Allocation % of PPLP Owned General Partner  HEYCO International (HINT)0.00%Limited Partners  HEYCO International (HINT)134,402,51456.49%Jalapeno Corporation15,503,1196.52%Rance Miles21,601,6349.08%Donald DeJong21,601,6349.08%Eris West Trust13,091,8815.50%William Webber13,091,8815.50%George O'Connor9,818,9114.13%Per Juvkam-Wold1,963,7870.83%Lauren Yates1,963,7870.83%King Crow1,546,7010.65%Steven Jackson3,338,6041.40%Total PPLP 237,924,452100.00% Please note that from 22 March 2021, the Standard TR-1 Form should be completed and submitted to the FCA via our Electronic Submission System (ESS) in relation to notifications of voting rights held in issuers whose shares are admitted to trading on UK regulated markets. Holders of voting rights in issuers whose shares are admitted to trading on UK prescribed markets such as AIM market, can continue to use this form to send their notifications to those issuers. Alternatively, if they wish they can register on ESS to be able to notify to us, produce a TR-1 Form via ESS and submit the downloaded version to issuers with shares admitted to trading on  prescribed markets. More information on how to submit a TR-1 Form via ESS is available here  TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:Egdon Resources plc1b. Please indicate if the issuer is a non-UK issuer  (please mark with an “X” if appropriate)2. Reason for the notification (please mark the appropriate box or boxes with an “X”)An acquisition or disposal of voting rightsXAn acquisition or disposal of financial instrumentsAn event changing the breakdown of voting rightsOther (please specify) ⁱⁱⁱ:3. Details of person subject to the notification obligation ^ivNameJalapeno CorporationCity and country of registered office (if applicable)Nevada, United States of America4. Full name of shareholder(s) (if different from 3.) ^vNameCity and country of registered office (if applicable)5. Date on which the threshold was crossed or reached ^vi:June 24, 20226. Date on which issuer notified (DD/MM/YYYY):June 24, 20227. Total positions of person(s) subject to the notification obligation% of voting rights attached to shares (total of 8. A)% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)Total of both in % (8.A + 8.B)Total number of voting rights held in issuer (8.A + 8.B) ^viiResulting situation on the date on which threshold was crossed or reachedLess than 3%Less than 3%Less than 3%Less than 3%Position of previous notification (ifapplicable)3%3%8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viiiA: Voting rights attached to sharesClass/type ofsharesISIN code (if possible)Number of voting rights ^ix% of voting rightsDirect(DTR5.1)Indirect(DTR5.2.1)Direct(DTR5.1)Indirect(DTR5.2.1)SUBTOTAL 8. ALess than 3%Less than 3%B 1: Financial Instruments according to DTR5.3.1R (1) (a)Type of financial instrumentExpirationdate ^xExercise/Conversion Period ^xiNumber of voting rights that may be acquired if the instrument is exercised/converted.% of voting rightsSUBTOTAL 8. B 1B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)Type of financial instrumentExpirationdate ^xExercise/Conversion Period ^xiPhysical or cash Settlement ^xiiNumber of voting rights % of voting rights SUBTOTAL 8.B.29. Information in relation to the person subject to the notification obligation (please mark theapplicable box with an “X”)Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiiiFull chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xivXName ^xv% of voting rights if it equals or is higher than the notifiable threshold% of voting rights through financial instruments if it equals or is higher than the notifiable thresholdTotal of both if it equals or is higher than the notifiable threshold 10. In case of proxy voting, please identify:Name of the proxy holderThe number and % of voting rights heldThe date until which the voting rights will be held11. Additional information ^xviPlace of completionDallas, Texas, United States of AmericaDate of completionJune 30, 2022     Please note that from 22 March 2021, the Standard TR-1 Form should be completed and submitted to the FCA via our Electronic Submission System (ESS) in relation to notifications of voting rights held in issuers whose shares are admitted to trading on UK regulated markets. Holders of voting rights in issuers whose shares are admitted to trading on UK prescribed markets such as AIM market, can continue to use this form to send their notifications to those issuers. Alternatively, if they wish they can register on ESS to be able to notify to us, produce a TR-1 Form via ESS and submit the downloaded version to issuers with shares admitted to trading on  prescribed markets. More information on how to submit a TR-1 Form via ESS is available here  TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:Egdon Resources plc1b. Please indicate if the issuer is a non-UK issuer  (please mark with an “X” if appropriate)Non-UK issuer2. Reason for the notification (please mark the appropriate box or boxes with an “X”)An acquisition or disposal of voting rightsXAn acquisition or disposal of financial instrumentsAn event changing the breakdown of voting rightsOther (please specify) ⁱⁱⁱ:3. Details of person subject to the notification obligation ^ivNamePetrichor Holdings CooperatiefCity and country of registered office (if applicable)Amsterdam, the Netherlands4. Full name of shareholder(s) (if different from 3.) ^vNameCity and country of registered office (if applicable)5. Date on which the threshold was crossed or reached ^vi:June 24, 20226. Date on which issuer notified (DD/MM/YYYY):June 24, 20227. Total positions of person(s) subject to the notification obligation% of voting rights attached to shares (total of 8. A)% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)Total of both in % (8.A + 8.B)Total number of voting rights held in issuer (8.A + 8.B) ^viiResulting situation on the date on which threshold was crossed or reachedLess than 3%Less than 3%Less than 3%Less than 3%Position of previous notification (ifapplicable)25.67%25.67%8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viiiA: Voting rights attached to sharesClass/type ofsharesISIN code (if possible)Number of voting rights ^ix% of voting rightsDirect(DTR5.1)Indirect(DTR5.2.1)Direct(DTR5.1)Indirect(DTR5.2.1)SUBTOTAL 8. AB 1: Financial Instruments according to DTR5.3.1R (1) (a)Type of financial instrumentExpirationdate ^xExercise/Conversion Period ^xiNumber of voting rights that may be acquired if the instrument is exercised/converted.% of voting rightsSUBTOTAL 8. B 1B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)Type of financial instrumentExpirationdate ^xExercise/Conversion Period ^xiPhysical or cash Settlement ^xiiNumber of voting rights % of voting rights SUBTOTAL 8.B.29. Information in relation to the person subject to the notification obligation (please mark theapplicable box with an “X”)Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiiiFull chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xivXName ^xv% of voting rights if it equals or is higher than the notifiable threshold% of voting rights through financial instruments if it equals or is higher than the notifiable thresholdTotal of both if it equals or is higher than the notifiable threshold10. In case of proxy voting, please identify:Name of the proxy holderThe number and % of voting rights heldThe date until which the voting rights will be held11. Additional information ^xvi Place of completionDallas, Texas, United States of AmericaDate of completionJune 30, 2022 Please note that from 22 March 2021, the Standard TR-1 Form should be completed and submitted to the FCA via our Electronic Submission System (ESS) in relation to notifications of voting rights held in issuers whose shares are admitted to trading on UK regulated markets. Holders of voting rights in issuers whose shares are admitted to trading on UK prescribed markets such as AIM market, can continue to use this form to send their notifications to those issuers. Alternatively, if they wish they can register on ESS to be able to notify to us, produce a TR-1 Form via ESS and submit the downloaded version to issuers with shares admitted to trading on  prescribed markets. More information on how to submit a TR-1 Form via ESS is available here  TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:Egdon Resources plc1b. Please indicate if the issuer is a non-UK issuer  (please mark with an “X” if appropriate)Non-UK issuer2. Reason for the notification (please mark the appropriate box or boxes with an “X”)An acquisition or disposal of voting rightsXAn acquisition or disposal of financial instrumentsAn event changing the breakdown of voting rightsOther (please specify) ⁱⁱⁱ:3. Details of person subject to the notification obligation ^ivNamePetrichor Partners, LPCity and country of registered office (if applicable)Delaware, United States of America4. Full name of shareholder(s) (if different from 3.) ^vNameCity and country of registered office (if applicable)5. Date on which the threshold was crossed or reached ^vi:June 24, 20226. Date on which issuer notified (DD/MM/YYYY):June 24, 20227. Total positions of person(s) subject to the notification obligation% of voting rights attached to shares (total of 8. A)% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)Total of both in % (8.A + 8.B)Total number of voting rights held in issuer (8.A + 8.B) ^viiResulting situation on the date on which threshold was crossed or reached46.03%46.03%46.03%Position of previous notification (ifapplicable)17.35%17.35%8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viiiA: Voting rights attached to sharesClass/type ofsharesISIN code (if possible)Number of voting rights ^ix% of voting rightsDirect(DTR5.1)Indirect(DTR5.2.1)Direct(DTR5.1)Indirect(DTR5.2.1)ordinary237,924,45246.03%SUBTOTAL 8. A237,924,45246.03%B 1: Financial Instruments according to DTR5.3.1R (1) (a)Type of financial instrumentExpirationdate ^xExercise/Conversion Period ^xiNumber of voting rights that may be acquired if the instrument is exercised/converted.% of voting rightsWarrants over Ordinary Shares23 July 2023At any time after26,524,000NilSUBTOTAL 8. B 126,524,000NilB 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)Type of financial instrumentExpirationdate ^xExercise/Conversion Period ^xiPhysical or cash Settlement ^xiiNumber of voting rights % of voting rights SUBTOTAL 8.B.29. Information in relation to the person subject to the notification obligation (please mark theapplicable box with an “X”)Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiiiFull chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xivxName ^xv% of voting rights if it equals or is higher than the notifiable threshold% of voting rights through financial instruments if it equals or is higher than the notifiable thresholdTotal of both if it equals or is higher than the notifiable thresholdHEYCO International, Inc.55.76%55.76% 10. In case of proxy voting, please identify:Name of the proxy holderThe number and % of voting rights heldThe date until which the voting rights will be held11. Additional information ^xviPlace of completionDallas, Texas, United States of AmericaDate of completionJune 30, 2022

Egdon Resources plc (AIM:EDR) has received notice of the exercise of Warrants and can advise the issue of new Ordinary Shares in the Company of 1p each (“Ordinary Shares”) as follows.The WarrantsIn July 2021 the Company raised £1.44 million through the issue of 115,228,000 new Ordinary Shares at a price of 1.25 pence per share. In addition, each two Subscription Shares were granted a right to subscribe for one new Ordinary Share at a price of 2.5 pence per share, (the “Warrant”).Exercise of Warrants and Issue of New Ordinary SharesNumber of Warrants being reported as ExercisedNumber of 1p new Ordinary Shares issuedConsideration Received at 2.5p per share200,000200,000£5,000.00Application for Admission of New Ordinary Shares to AIMAn application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange with admission expected to become effective on or around 22 June 2022.The new Ordinary Shares will rank pari passu with the Company’s existing Ordinary Shares in all respects.Outstanding WarrantsFollowing the exercise of the Warrants reported above 49,299,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.Total Voting RightsFollowing admission of the new Ordinary Shares on or around 22 June 2022 the issued share capital of the Company will be 525,092,031 Ordinary Shares, each with voting rights. This figure may be used by 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 Disclosure and Transparency Rules.

Egdon Resources plc (AIM:EDR) has received notice of the exercise of Warrants and can advise the issue of new Ordinary Shares in the Company of 1p each (“Ordinary Shares”) as follows.The WarrantsIn July 2021 the Company raised £1.44 million through the issue of 115,228,000 new Ordinary Shares at a price of 1.25 pence per share. In addition, each two Subscription Shares were granted a right to subscribe for one new Ordinary Share at a price of 2.5 pence per share, (the “Warrant”).Exercise of Warrants and Issue of New Ordinary SharesNumber of Warrants being reported as ExercisedNumber of 1p new Ordinary Shares issuedConsideration Received at 2.5p per share500,000500,000£12,500.00Application for Admission of New Ordinary Shares to AIMAn application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange with admission expected to become effective on or around 14 June 2022.The new Ordinary Shares will rank pari passu with the Company’s existing Ordinary Shares in all respects.Outstanding WarrantsFollowing the exercise of the Warrants reported above 49,499,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.Total Voting RightsFollowing admission of the new Ordinary Shares on or around 14 June 2022 the issued share capital of the Company will be 524,892,031 Ordinary Shares, each with voting rights. This figure may be used by 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 Disclosure and Transparency Rules.

Egdon Resources plc (AIM:EDR), a UK focused energy company, is pleased to advise that the North Sea Transition Authority (“NSTA”) has approved the Field Development Plan for the Wressle oil field in North Lincolnshire, held under licences PEDL180 and PEDL182 (the “Licences”) where Egdon is operator with a 30% interest.The NSTA has also approved the Licences entering their production phase, which will continue through to 2039.Commenting on these positive developments, Mark Abbott, Managing Director of Egdon Resources plc, said:“This is a key milestone for the Wressle project as it transitions from an extended well test to production under an approved field development plan.  Wressle continues to generate high levels of production and revenues.  The Wressle-1 well is currently amongst the most productive in the onshore UK and to date has produced over 170,000  barrels of oil. I am proud of the Egdon team and our contractors for their efforts and determination in achieving this key milestone. My thanks also go to our joint venture partners Union Jack Oil and Europa Oil and Gas, for their support and advice during this process.Our focus now turns to completing the installation of the few remaining permanent production facilities and progressing the planning, permitting and implementation of the gas monetisation plan. This will enable a reduction in gas incineration and remove the limitations on oil production. In parallel we are advancing the development plan and consenting process to enable production from the Penistone Flags reservoir where gross Mid-case Contingent Resources of 1.53 million barrels of oil and 2 billion cubic feet of gas have been independently reported.” 

Egdon Resources plc (AIM:EDR) a UK focused energy company, is pleased to provide an unaudited financial update for the third quarter of the Company’s financial year (February to April 2022) and to advise the repayment of a £1 million loan.Revenues

• Revenue for the three-month period from February to April 2022 was £2.23 million (2021: £0.31 million and H1 2022: £2.55million).
• Revenue was primarily from the Wressle and Ceres fields, with average realised oil prices during the period February to April 2022 of $106.67 per barrel of oil (“bbl”) (February to April 2021: $62.43/bbl) and averaged realised gas prices of 217p per therm ($149 per barrel of oil equivalent (“boe”) (February to April 2021: 45p/therm ($44/boe)).

Loan Repayment

• On 25 May 2022 the £1 million commercial loan facility (the “Loan”) was repaid to Union Jack Oil PLC along with accrued interest as per the agreed terms.

Wressle Deferred Consideration

• As advised in the Company’s interim results (26 April 2022), during March 2022, Egdon paid the £0.417 million deferred cash consideration for the additional 5% interest in PEDL180 and PEDL182 (Wressle) which was acquired from Celtique Energie Petroleum Limited during June 2018.

Net Current Assets

• Accounting for repayment of the Loan, on 1 May 2022 the Company held unaudited cash and cash equivalents of £2.73 million (31 January 2022: £2.08 million) and net current assets of £2.76 million (31 January 2022: £1.16 million).

Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:“I am pleased to report that continuing strong production from Wressle and Ceres coupled with high oil and gas prices have translated into a robust year to date financial performance for Egdon. The material cash flow generated has been transformational, enabling the Company to become debt free and funded for all near-term commitments in parallel with considering further growth opportunities.”

Egdon Resources plc (AIM:EDR) has received notice of the exercise of Warrants and can advise the issue of new Ordinary Shares in the Company of 1p each (“Ordinary Shares”) as follows.The WarrantsIn July 2021 the Company raised £1.44 million through the issue of 115,228,000 new Ordinary Shares at a price of 1.25 pence per share. In addition, each two Subscription Shares were granted a right to subscribe for one new Ordinary Share at a price of 2.5 pence per share, (the “Warrant”).Exercise of Warrants and Issue of New Ordinary SharesNumber of Warrants being reported as ExercisedNumber of 1p new Ordinary Shares issuedConsideration Received at 2.5p per share400,000400,000£10,000.00Application for Admission of New Ordinary Shares to AIMAn application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange with admission expected to become effective on or around 31 May 2022.The new Ordinary Shares will rank pari passu with the Company’s existing Ordinary Shares in all respects.Outstanding WarrantsFollowing the exercise of the Warrants reported above 49,999,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.Total Voting RightsFollowing admission of the new Ordinary Shares on or around 31 May 2022 the issued share capital of the Company will be 524,392,031 Ordinary Shares, each with voting rights. This figure may be used by 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 Disclosure and Transparency Rules.

View or Download TR-1

Egdon Resources plc (AIM:EDR) has received notice of the exercise of Warrants and can advise the issue of of new Ordinary Shares of 1p each in the Company (“Ordinary Shares”) as follows.The WarrantsIn July 2021 the Company raised £1.44 million through the issue of 115,228,000 new Ordinary Shares at a price of 1.25 pence per share. In addition, each two Subscription Shares were granted a right to subscribe for one new Ordinary Share at a price of 2.5 pence per share, (the “Warrant”).Exercise of Warrants and Issue of New Ordinary SharesNumber of Warrants being reported as ExercisedNumber of 1p new Ordinary Shares issuedConsideration Received at 2.5p per share400,000400,000£10,000.00Application for Admission of New Ordinary Shares to AIMAn application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange with admission expected to become effective on or around 10 May 2022.The new Ordinary Shares will rank pari passu with the Company’s existing Ordinary Shares in all respects.Outstanding WarrantsFollowing the exercise of the Warrants reported above 50,399,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.Total Voting RightsFollowing admission of the new Ordinary Shares on or around 10 May 2022 the issued share capital of the Company will be 523,992,031 Ordinary Shares, each with voting rights. This figure may be used by 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 Disclosure and Transparency Rules.

Egdon Resources plc (AIM: EDR), a UK focused energy company, today announces its unaudited results for the six months ended 31 January 2022 (“the period”).Overview and HighlightsOperational and Corporate

• Production during the period increased by 156% to 43,420 barrels of oil equivalent (“boe”) equating to 205 boe per day (“boepd”) (H1 2021: 16,928 boe and 92 boepd)
• Wressle production has significantly exceeded the original 500 barrels of oil per day (“bopd”) expectation and is currently producing at permit constrained rates of 760-800 bopd following upgrades to the production facilities
• Egdon has assumed the operatorship, increased its equity to 40% and agreed an extension to 20 March 2024 in PEDL343 which contains the Cloughton gas discovery
• Planning permission was refused for the drilling of a side-track well, testing and long-term production at the Biscathorpe project

Financial Performance

• Oil and gas revenues increased by 500% during the period to £2.551 million (H1 2021: £0.424 million) as a result of significantly increased production and strengthening commodity prices
• Profit before impairments/write backs of £0.715 million (H1 2021: loss of £0.763 million)
• Overall profit for the period of £1.222 million including £0.507 million write-back (H1 2021: loss of £1.039 million including £0.276 million of impairments)
• Cash and cash equivalents of £2.084 million (H1 2021: £2.422 million and 31 July 2021: £
• Net current assets as at 31 January 2022 of £1.165 million, which includes UJO debt of £1.07 million and £0.417 million deferred consideration for Wressle (31 January 2021: net current liability of £0.126 million, which includes liability for £0.962 million convertible loan and £0.417 million deferred consideration for Wressle)

Subsequent Events

• On 10 March 2022 a revised incentive package was put in place for all employees through the issue of new share options and the cancellation of all historical share options
• On 14 March 2022, planning permission was refused to extend the existing consents to drill the North Kelsey-1 exploration well and will be appealed during H2 2022
• On 5 April 2022 the Government announced that it had commissioned the British Geological Survey to advise on the latest scientific evidence around shale gas extraction
• An appeal against the refusal of planning for the Biscathorpe project was submitted on 12 April 2022
• During April 2022, Shell advised Egdon and the North Sea Transition Authority (“NSTA”) of its intention to withdraw from licences P1929 and P2304, containing the Resolution and Endeavour gas discoveries. Egdon is considering its options, including its ongoing commitment to the licences and will discuss these options with the NSTA.

Outlook

• Post-period end production and revenues have continued to be strong with February and March revenues of £0.480 million and £0.953 million respectively
• The Company is funded for all near-term committed activity including the loan repayment of £1.07 million due in May 2022

Our key operational focus for the coming period will be:

• Continuing to optimise oil and gas production from the Ashover Grit reservoir at Wressle, building on the strong performance to date
• Progressing gas monetisation at Wressle
• Finalising plans for development of the material Contingent Resources in the Penistone Flags at Wressle
• Progressing drilling plans to target incremental oil production / near field exploration opportunities at the Keddington oil field and the field redevelopment at Waddock Cross
• Securing planning consent via appeal for the Biscathorpe and North Kelsey projects
• Further developing the Company’s energy transition opportunities including repurposing of the Dukes Wood-1 well for geothermal heat

Online Presentation and audiocastA webcast of the interim results presentation will be available from 07.00 through the following link:https://webcasting.buchanan.uk.com/broadcast/62458a79893940516d342a2aCommenting on the results, Philip Stephens, Chairman of Egdon said;“The period has been has been an exceptional one for the Company. Revenues have increased fivefold and this has resulted in a return to profit after the challenges of recent years. Significantly increased commodity prices and increased production have made this possible. The Wressle field continues to exceed our expectations and the Ceres gas field is providing a late life renaissance.       Production continues at a high level and the resultant positive cash flow supported by continuing high commodity prices enables us to be confident that we will be able fully to fund our current plans.”View or Download 2022 Egdon Interim Results

Egdon Resources plc (AIM:EDR) advises that Shell U.K. Limited has informed Egdon and the North Sea Transition Authority (“NSTA”) of its intention to withdraw from licences P1929 and P2304 containing the Resolution and Endeavour gas discoveries.Egdon will now consider its options, including its ongoing commitment to the licences and will discuss this with the NSTA. We will update shareholders once our preferred option and the NSTA position is known.

The following amendments have been made to the 'Interim Results for the Six Months Ended 31 January 2022’ announcement released on 26 April 2022 at 7:00am under RNS No 2803J.Operational and Corporate Highlights‘Production during the period increased by 116% to 36,714 barrels of oil equivalent (“boe”) equating to 200 boe per day (“boepd”) (H1 2021: 16,928 boe and 92 boepd)’ instead of an increase of 156% to 43,420 boe equating to 205 boepd. This earlier figure having included the production for February 2022 in error.Financial and Statutory Information‘The average realised price per barrel of oil equivalent was 178% higher at $93.81/boe (H1 2021: $33.81/boe)’ instead of an average realised price per boe of 135% higher at $79.32/boe.All other details remain unchanged. The full amended text is shown below.EGDON RESOURCES PLC(“Egdon” or “the Group” or “the Company”)Interim Results for the Six Months Ended 31 January 2022Egdon Resources plc (AIM: EDR), a UK focused energy company, today announces its unaudited results for the six months ended 31 January 2022 (“the period”).Overview and HighlightsOperational and Corporate

• Production during the period increased by 116%% to 36,714 barrels of oil equivalent (“boe”) equating to 200 boe per day (“boepd”) (H1 2021: 16,928 boe and 92 boepd)
• Wressle production has significantly exceeded the original 500 barrels of oil per day (“bopd”) expectation and is currently producing at permit constrained rates of 760-800 bopd following upgrades to the production facilities
• Egdon has assumed the operatorship, increased its equity to 40% and agreed an extension to 20 March 2024 in PEDL343 which contains the Cloughton gas discovery
• Planning permission was refused for the drilling of a side-track well, testing and long-term production at the Biscathorpe project

Financial Performance

• Oil and gas revenues increased by 500% during the period to £2.551 million (H1 2021: £0.424 million) as a result of significantly increased production and strengthening commodity prices
• Profit before impairments/write backs of £0.715 million (H1 2021: loss of £0.763 million)
• Overall profit for the period of £1.222 million including £0.507 million write-back (H1 2021: loss of £1.039 million including £0.276 million of impairments)
• Cash and cash equivalents of £2.084 million (H1 2021: £2.422 million and 31 July 2021: £
• Net current assets as at 31 January 2022 of £1.165 million, which includes UJO debt of £1.07 million and £0.417 million deferred consideration for Wressle (31 January 2021: net current liability of £0.126 million, which includes liability for £0.962 million convertible loan and £0.417 million deferred consideration for Wressle)

Subsequent Events

• On 10 March 2022 a revised incentive package was put in place for all employees through the issue of new share options and the cancellation of all historical share options
• On 14 March 2022, planning permission was refused to extend the existing consents to drill the North Kelsey-1 exploration well and will be appealed during H2 2022
• On 5 April 2022 the Government announced that it had commissioned the British Geological Survey to advise on the latest scientific evidence around shale gas extraction
• An appeal against the refusal of planning for the Biscathorpe project was submitted on 12 April 2022
• During April 2022, Shell advised Egdon and the North Sea Transition Authority (“NSTA”) of its intention to withdraw from licences P1929 and P2304, containing the Resolution and Endeavour gas discoveries. Egdon is considering its options, including its ongoing commitment to the licences and will discuss these options with the NSTA.

Outlook

• Post-period end production and revenues have continued to be strong with February and March revenues of £0.480 million and £0.953 million respectively
• The Company is funded for all near-term committed activity including the loan repayment of £1.07 million due in May 2022

Our key operational focus for the coming period will be:

• Continuing to optimise oil and gas production from the Ashover Grit reservoir at Wressle, building on the strong performance to date
• Progressing gas monetisation at Wressle
• Finalising plans for development of the material Contingent Resources in the Penistone Flags at Wressle
• Progressing drilling plans to target incremental oil production / near field exploration opportunities at the Keddington oil field and the field redevelopment at Waddock Cross
• Securing planning consent via appeal for the Biscathorpe and North Kelsey projects
• Further developing the Company’s energy transition opportunities including repurposing of the Dukes Wood-1 well for geothermal heat

Online Presentation and audiocastA webcast of the interim results presentation will be available from 07.00 through the following link:https://webcasting.buchanan.uk.com/broadcast/62458a79893940516d342a2aCommenting on the results, Philip Stephens, Chairman of Egdon said;“The period has been has been an exceptional one for the Company. Revenues have increased fivefold and this has resulted in a return to profit after the challenges of recent years. Significantly increased commodity prices and increased production have made this possible. The Wressle field continues to exceed our expectations and the Ceres gas field is providing a late life renaissance.       Production continues at a high level and the resultant positive cash flow supported by continuing high commodity prices enables us to be confident that we will be able fully to fund our current plans.”

Egdon Resources plc (AIM:EDR) advises that its unaudited interim results for the six months ending 31 January 2022 will be released on Tuesday 26 April 2022.A webcast of the results presentation will be available via the Company website (www.egdon-resources.com) from 07.00 on 26 April 2022.

Egdon Resources plc (AIM:EDR) has received notice of the exercise of Warrants and can advise the issue of new Ordinary Shares in the Company of 1p each (“Ordinary Shares”) as follows.The WarrantsIn July 2021 the Company raised £1.44 million through the issue of 115,228,000 new Ordinary Shares at a price of 1.25 pence per share. In addition, each two Subscription Shares were granted a right to subscribe for one new Ordinary Share at a price of 2.5 pence per share, (the “Warrant”).Exercise of Warrants and Issue of New Ordinary SharesNumber of Warrants being reported as ExercisedNumber of 1p new Ordinary Shares issuedConsideration Received at 2.5p per share6,815,0006,815,000£170,375Application for Admission of New Ordinary Shares to AIMAn application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange with admission expected to become effective on or around 20 April 2022.The new Ordinary Shares will rank pari passu with the Company’s existing Ordinary Shares in all respects.Outstanding WarrantsFollowing the exercise of the Warrants reported above 50,799,000 Warrants remain outstanding and are exercisable at any time until 23 July 2023.Total Voting RightsFollowing admission of the new Ordinary Shares on or around 20 April 2022 the issued share capital of the Company will be 523,592,031 Ordinary Shares, each with voting rights. This figure may be used by 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 Disclosure and Transparency Rules.

Egdon Resources plc (AIM:EDR) is pleased to advise that further to the announcement of 25 January 2022, it has submitted an appeal against the refusal of planning permission by Lincolnshire County Council for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site (the “Appeal”), held under licence PEDL253.Egdon is operator of PEDL253 and holds a 35.8% interest in the licence.The appeal documentation was submitted to the Planning Inspectorate (“PINS”) on 12 April 2022. The appeal will now be validated by PINS before an Inspector is appointed and a timetable is defined. The expectation is that the appeal will be decided under the written representations procedure, a process where PINS will consider written evidence from the appellant, the local planning authority and anyone else who has an interest in the appeal.

Egdon Resources plc (AIM:EDR) welcomes the Government's announcement of 5 April 2022 of a scientific review of shale gas by the British Geological Survey. The review is to report before the end of June 2022.The full text of the Government's announcement can be found at https://www.gov.uk/government/news/scientific-review-of-shale-gas-launchedEgdon holds a significant portfolio of shale gas licences covering an area of 151,742 net acres (614 square kilometres) with estimated mean volumes of undiscovered gas in place of 37.6 trillion cubic feet. Egdon’s primary focus is the Gainsborough Trough where the results from the 2019 Springs Road-1 well highlighted a potentially world class resource in the Gainsborough Shale.Commenting, Mark Abbott, Managing Director of Egdon Resources plc, said:“This review is a logical and welcome move by the government. Gas heats over 80% of our homes and generates around 40% of our electricity and will continue to be an important part of our energy mix out to 2050 and beyond. UK shale gas could be a strategically important national resource with the potential to reduce the UK’s growing reliance on gas imports, whilst reducing gas prices, improving our balance of payments, increasing tax revenues and creating skilled jobs whilst importantly also reducing the carbon footprint of the gas we all use.”

Egdon Resources plc (AIM:EDR) advises that its application to extend the existing planning permission to drill the North Kelsey-1 exploration well was refused at today’s meeting of the Lincolnshire County Council Planning Committee.Commenting on the decision, Mark Abbott, Managing Director of Egdon Resources plc, said:“The decision of the Planning Committee is disappointing given the clear current need for the UK to secure further indigenous supplies of energy to reduce its reliance on imports, the compelling case presented and the positive recommendation of Lincolnshire County Council’s Planning Officer. Given this, we will bring forward an appeal against this decision without delay and will provide further updates in due course.”

Grant of OptionsEgdon Resources plc (AIM:EDR) announces that as part of a periodic incentive review and also to compensate salary reductions taken between March 2020 and December 2022, it has granted options to the following Directors and cancelled all existing options awards.DirectorNumber of Options grantedExercise Price (pence)Vesting DateExercisable UntilMark Abbott4,444,4442.25p8 March 20237 March 2033Martin Durham3,555,5562.25p8 March 20237 March 2033The options were set at an exercise price of 2.25p being the average closing mid-price on 7 March 2022Following the grant of the options on 8 March 2022, the interests of the Directors in the share capital of the Company are as follows:DirectorTotal number of Options held over Ordinary SharesTotal number of Warrants held over Ordinary SharesNumber of Ordinary Shares heldMark Abbott4,444,444800,0009,689,387Martin Durham3,555,556100,000200,000 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 17,500,000 (Representing 3.39 % of the Company’s issued share capital).The total number of options granted to Directors and employees of the Company that were cancelled was 9,675,122 (Representing 1.87 % 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)2.25 pence4,444,444d)Aggregated information— Aggregated volume4,444,444 Ordinary Shares of 1 pence per share value— Price¹¹2.25 pence per sharee)Date of the transaction8 March 2022f)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)2.25 pence3,555,556d)Aggregated information— Aggregated volume3,555,556 Ordinary Shares of 1 pence per share value— Price¹¹2.25 pence per sharee)Date of the transaction8 March 2022f)Place of the transactionOutside a trading venue1.Details of the person discharging managerial responsibilities/person closely associateda)NameMark Abbott2.Reason for the notificationa)Position / statusManaging Directorb)Initial notification / amendmentCancellation of options3.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 transactionCancellation of optionsc)Price(s) and volume(s)Price(s)Volume(s)10.00 pence600,00020.62 pence363,7259.70 pence979,3817.85 pence1,210,191d)Aggregated information— Aggregated volume3,153,297 Ordinary Shares of 1 pence per share value— Price¹¹10.31 pence per sharee)Date of the transaction8 March 2022f)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 / amendmentCancellation of options3.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 transactionCancellation of optionsc)Price(s) and volume(s)Price(s)Volume(s)22.75 pence659,3419.70 pence773,1967.85 pence955,414d)Aggregated information— Aggregated volume2,387,951 Ordinary Shares of 1 pence per share value— Price¹¹12.56 pence per sharee)Date of the transaction8 March 2022f)Place of the transactionOutside a trading venue

View or download TR1

Egdon Resources plc (AIM:EDR) is pleased to advise its intention to submit an appeal against the refusal of planning permission by Lincolnshire County Council (LCC) on 1 November 2021, for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site, held under licence PEDL253. Egdon is operator and holds a 35.8% interest in the licence.The decision has been made after reviewing LCC’s Decision Notice, which was received on 6 December 2021, taking advice from our planning and legal advisors and agreement with our joint venture partners.The appeal documentation is currently in preparation and is expected to be submitted during Q1 2022.

Egdon Resources plc (AIM:EDR) a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, is pleased to provide a summary of the results of the analysis of the downhole hole pressure data acquired in the Wressle-1 well during December 2021. The interpretation was carried out by ERCE, an independent energy consultancy, on behalf of the Wressle joint venture partners.Egdon holds a 30% interest and is operator of the field.Highlights

• The results demonstrate the significant potential of the Wressle-1 well and the production rates that could be achieved once the surface facilities are optimised and a gas utilisation scheme is in place
• Based on the current reservoir pressure and a flowing tubing head pressure of 400 pounds per square inch gauge (“psig”), ERCE estimates that a rate of 1,216 barrels of oil per day (“bopd”) would be achievable, whilst maintaining a flowing bottom hole pressure above the oil saturation pressure (“bubble point”)
• At 300 psig flowing tubing head pressure, ERCE estimates the well could flow at a rate of 1,543 bopd whilst at the oil bubble point
• ERCE estimates a reservoir permeability of 80 millidarcies, and the analysis also confirmed the effectiveness of the proppant squeeze in reducing the skin factor from 107 to 0.2. (The skin factor is an estimate of the impairment to flow within the reservoir caused during drilling, completion or the original testing operations.)

Mark Abbott, Managing Director of Egdon, commented:“The conclusions of this work clearly demonstrate the significant potential of the Wressle-1 well and the possible production rates that can be achieved from the Ashover Grit reservoir interval. “We continue to work to realise the full commercial potential of the Wressle field. This will be achieved through optimising the production facilities, progressing options for gas monetisation and advancing the development plan for production from the Wingfield Flags and Penistone Flags reservoirs. In the meantime, the asset continues to generate material cash flow that has transformed the Company’s financial outlook. I look forward to making further announcements in respect of progress in due course”.

Egdon Resources plc (AIM: EDR) is pleased to announce that at the Annual General Meeting held at 11.30 hours today all the resolutions proposed in the notice of the meeting were duly passed.View or Download Voting Results and Proxy AppointmentsA business update presentation was made immediately following the AGM and is now available on the Company’s website www.egdon-resources.com

Egdon Resources plc (AIM:EDR) a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, is pleased to provide the following Financial and Operational Update ahead of its Annual General Meeting. The meeting will be held at the offices of Norton Rose Fulbright, 3 More London Riverside, London, SE1 2AQ at 11.30 am today.Revenues

• Unaudited revenue for the three-month period from August to October 2021 was £1.085 million (2020: £0.173 million)
• Revenue was primarily from Wressle and Ceres, and was despite Wressle only recommencing flow on 19 August and the Ceres field being shut-in for annual maintenance for 20 days during September
• This is expected to translate into a step change in revenues and cash flow for the Company for the current financial year, with full-year revenue from the Company’s 2020/21 financial year (£1.09 million) matched after the first quarter of the current year (August to October)

Wressle PEDL180/182 (Egdon 30%):

• The Wressle-1 well has continued to exceed our expectations since the successful completion of the proppant squeeze and subsequent coiled tubing operations on the 19 August 2021.
• Works have been completed to upgrade the gas incineration system
• Despite being flowed under a highly restricted choke (20/64 inch), whilst upgrade works are ongoing, Wressle produced at an average rate of 666 barrels of oil per day (bopd) (c. 200 bopd net to Egdon) plus 368,000 cubic feet of gas over the last 7 days period (727 barrels of oil equivalent per day)
• No formation water has been produced to date
• A secondary separator system has been designed and manufactured and is expected to be installed before year end to optimise gas/oil separation
• Early 2022 will see completion of testing of the full potential of the well
• Decisions will be made early in 2022 on the plateau production rate, to match with the longer-term operational objectives and prudent reservoir management of this important asset
• Downhole pressure data has been acquired and is currently being interpreted to further inform these decisions
• The focus in 2022 will move to progressing the optimal method of gas monetisation and finalising plans for the development of other hydrocarbon bearing sequences to access the identified contingent resources, with particular focus on the Penistone Flags reservoir

Ceres P1241 (Egdon 10%):

• The Ceres Gas Field is undergoing a late-life renaissance for the Company
• Gas realisations averaged 195p/therm in October and November 2021 (an equivalent of $157/boe)
• Given the low operating costs, strong gas market fundamentals and forward curve we believe the field could remain profitable for some years to come

Biscathorpe PEDL253 (Egdon 35.8%):

• On 1 November 2021, the planning application for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site, was refused by Lincolnshire County Council (LCC), despite being recommended for approval by the Council's planning officers
• The formal decision notice was issued on 6 December and we are currently reviewing in detail the reasons for refusal with our planning and legal advisors and considering our options which is likely to lead to an appeal

North Kelsey PEDL241 (Egdon 50%):

• Planning applications were submitted to LCC in early December to extend the existing planning consents by twelve months and amend the proposed bottom hole target location for the planned North Kelsey well
• The applications have now been validated and the consultation period has begun
• Subject to receipt of planning consent this well could be drilled later in 2022

Keddington PEDL005R (Egdon 45%):

• A detailed sub-surface review of the Keddington oil fieldand the surrounding licence area has highlighted an opportunity to increase production via a new development side-track well for which planning consent is already in place 
• Reservoir engineering work has been completed by ERCE and has confirmed a target area in the south-east of the field which would add 85,000 to 120,000 barrels of recoverable oil
• Well specific reservoir modelling and detailed well planning will be completed in the coming period with a view to being in a position to drill the side-track well during 2022
• Additional near-field exploration opportunities have been identified at Keddington South, (gross Mean Prospective Resources of 635,000 barrels of oil) and the Louth Prospect (gross Mean Prospective Resources of 600,000 barrels of oil) which could be accessed from the existing production site in due course

Waddock Cross PL090 (Egdon 55%)

• Reservoir modelling has shown that a new horizontal well on the field could yield commercial oil production (500-800 bopd)
• Given the large in-place oil volume (Mean oil in place of c. 57 million barrels of oil) Waddock Cross has been high graded as planning consent and facilities are in place to test this significant opportunity
• Well design and surface facilities design work has been completed
• Further detailed design and costings are in preparation to support a potential JV investment decision during 2022 to drill a side-track well and reinstate production

Mark Abbott, Managing Director of Egdon, commented:“Strong production performance and high oil and gas prices are combining to provide the Company with material operating cashflows which strengthens the balance sheet and will support our planned 2022 investment programme.”

Annual Report2021 Annual Report and Accounts2021 AGMNotice of AvailabilityEgdon Chairman Letter AGM Notice to be held on Thursday 16 December 2021Egdon Proxy for AGM to be held on Thursday 16 December 2021

Preliminary Results for the Year Ended 31 July 2021Egdon Resources plc (AIM: EDR), a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, today announces its preliminary results for the year ended 31 July 2021.Operational and Corporate Highlights

• Completion of site reconfiguration, facilities installation and well recompletion at the Wressle oil field, with test production ongoing since late January 2021 and the proppant squeeze operation successfully completed in July 2021
• Production during the period was 90 barrels of oil equivalent per day (“boepd”) (2020: 145 boepd) against guidance of 110-130 boepd due to delays in undertaking the proppant squeeze at Wressle
• Planning application submitted for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe-2 well site 
• Entered a memorandum of understanding with Creative Geothermal Solutions Limited (“CGS”) in respect of geothermal projects with an initial focus on Egdon’s Dukes Wood-1 and Kirklington-3Z wells
• Completion of the farm-outs for the Resolution and Endeavour gas discoveries (P1929 and P2304) to Shell Oil U.K. Limited
• Continued refocussing and streamlining of the licence portfolio

Financial Performance

• Gross oil and gas revenues during the year increased by 13.4% to £1.09 million (2020: £0.96 million).
• Loss for the year ended 31 July 2021 of £1.68 million after write-downs, pre-licence costs and impairments of £0.48 million (2020: loss of £4.75 million after write-downs, pre-licence costs and impairments of £3.03 million)
• Basic loss per share of 0.51p (2020: 1.53p)
• Cash at bank £1.96 million as at 31 July 2021 (2020: £0.85 million)
• Net assets as at 31 July 2021 of £27.42 million (2020: £26.67 million)
• Refinancing of the business via a £1 million loan facility, the issue of £1.05 million convertible loan notes following shareholder approval at a General Meeting held on 22 January 2021, and an equity placing of £1.44 million gross in July 2021

Subsequent Events

• At Wressle, a coiled tubing operation, a follow-up to the proppant squeeze operation, was completed in August 2021, with test production recommencing and flow rates exceeding pre-operational expectations. During September, we reported facility constrained instantaneous flow rates of up to 884 barrels of oil per day (“bopd”) along with 480,000 cubic feet of gas (c. 80 barrels of oil equivalent per day).  Wressle is already having a positive impact on the Group’s revenues.
• In September 2021 we were advised by Shell that the planned 3-D seismic survey across UK offshore licences P1929 and P2304 (Resolution and Endeavour gas discoveries respectively (Egdon 30%)) would not proceed on the originally expected timeframe of February 2022. Subject to regulatory and Shell approval, we now anticipate that this could go ahead in February 2023.
• On 1 November 2021 planning permission was refused for the Biscathorpe project. The Company will await the formal decision notice before taking advice and considering our options including an appeal.

Outlook

• Initial production guidance for 2021-22 is 240 boepd, with Wressle being the significant contributor.
• With the material cash flow expected from Wressle and Ceres in a significantly improved commodity price environment, and the breadth and quality of the opportunities within the portfolio, we look forward with confidence.

AudiocastAn audiocast of the Results Presentation will be available to view via the following link from 09.30:http://webcasting.buchanan.uk.com/broadcast/61767494df7b150b81e93816Commenting on the Results Egdon’s Chairman, Philip Stephens said; “During what has been a challenging period as we continue to navigate the COVID pandemic and its macro-economic impacts, I can report that we have continued to make progress against our revised strategy and the business is in a significantly stronger place than a year ago. We have strengthened our financial position and are now operating in a higher commodity price environment as worldwide demand recovers.  Operationally the highlight is undoubtedly Wressle, where production has significantly exceeded our expectations and the material revenues from this asset will transform the cash flow for the business in the current period and beyond, providing optionality for near-term growth opportunities in line with our stated strategy.”View or download Egdon Resources 2021 Preliminary Results

Egdon Resources plc (AIM:EDR) advises that its planning application for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site, was refused at today’s meeting of the Lincolnshire County Council Planning Committee.The application had been recommended for approval by Lincolnshire County Council’s planning officers.We will await the formal decision notice before taking advice and considering our options including an appeal.

Operational UpdateEgdon Resources plc (AIM: EDR, "Egdon"), an established exploration and production company focused on the hydrocarbon-producing basins of the onshore UK, provides an update on operations across its portfolio.Key Highlights:

• Initial production from Wressle-1 surpassing expectation at 884 barrels of oil per day (“bopd”) and 480,000 cubic feet of gas per day on a restricted choke with no formation water seen.
• Plans to reduce production constraints and define plateau rate at Wressle-1.
• Planning application for the side-track drilling, testing and production at Biscathorpe to be heard in November.
• Shell U.K. Limited advises that the 3D seismic survey over the Resolution and Endeavour gas discoveries has been delayed beyond February 2022.
• Detailed well design, facilities specification, and commercial modelling nearing completion for the phased redevelopment of the shut-in Waddock Cross oil field with a Final Investment Decision expected to be made by the end of 2021, which could lead to further drilling activity during 2022.
• Detailed reservoir engineering work underway at Keddington to support target selection for a side-track development well, which could be drilled in 2022 and access gross Mean Contingent Resources of 567,000 barrels of oil which remain to be produced.
• A programme to plug and abandon the existing Dukes Wood-1 oil well and recomplete this for geothermal heat production has been developed and will shortly be submitted to the HSE.

Wressle PEDL180 & PEDL182 (Egdon 30%):The Wressle-1 well has continued to exceed production expectations since the successful completion of the coiled tubing operations on the 19 August 2021. To date, instantaneous flow rates in excess of 884 barrels of oil per day (“bopd”) along with 480,000 cubic feet of gas (c. 80 barrels of oil equivalent per day) have been achieved from the Ashover Grit on a significantly restricted choke setting (30.5/64ths) and with a high flowing wellhead pressure. Thus far, no formation water has been seen as the well continues to clean up.Even with the excellent flow rates seen to date, the full flow potential of the well remains to be fully tested due to constraints being experienced with the gas handling equipment.The forward plan is to remove these constraints to production and complete the testing of the well’s potential before defining a plateau production rate matching the well behaviour to the installed facilities, long term operational objectives and prudent reservoir management.We can also advise that we have now received the revision to the Environmental Permit, enabling the installation of a combustion plant to facilitate gas to electric generation and a new potential revenue stream.Since being returned to production on 19 August the well has generated revenues in excess of £300,000 for Egdon.Biscathorpe PEDL253 (Egdon 35.8%):We now expect the planning application for the side-track drilling, testing and production at Biscathorpe to be heard at a meeting of Lincolnshire County Council’s planning committee during November.Subject to planning the Biscathorpe side-track will target the Dinantian Carbonate, where a 68 metre oil column was discovered in Biscathorpe-2, with gross Mean Prospective Resources of 2.55 million barrels of oil (mmbo), and the Basal Westphalian Sandstone, where gross Mean Prospective Resources of 3.95 mmbo have been estimated by Egdon.P1929 & P2304 Resolution and Endeavour (Egdon 30%):Egdon has been advised by licence operator, Shell U.K. Limited, that the 3D seismic survey planned for February 2022, over the Resolution and Endeavour gas discoveries, will not proceed on the original expected timeline. Shell will consult with the OGA to discuss the delay to the survey and we will provide a further update once these discussions have progressed.A Competent Person’s Report (Schlumberger Oilfield UK PLC) has reported gross Mean Contingent Resources of 231 billion cubic feet (“bcf”) of gas attributable to the Resolution discovery with Egdon estimating that the Endeavour discovery contains gross Mean Contingent Resources of 18 bcf of gas. Waddock Cross PL090 (Egdon 55%):Third party work is currently ongoing to finalise the well design, facilities specification, and commercial modelling for the phased redevelopment of the shut-in Waddock Cross oil field in Wessex Basin licence PL090. Independent reservoir modelling has shown that a new horizontal well on the field could yield commercial oil production (500-800 bopd). Given the large in- place oil volume (Mean oil in place of c. 57 million barrels of oil) this asset has been high graded by the Company as planning consent and facilities are in place to test this significant opportunity.A final investment decision is expected to be made by the end of 2021 which could lead to further drilling activity during 2022.Keddington PEDL005R (Egdon 45%):As previously reported, a detailed sub-surface review of the Keddington oil field and the surrounding licence area has highlighted that gross Mean Contingent Resources of 567,000 barrels of oil remain to be produced. This presents an opportunity to increase production via a development well for which planning is already in place.Detailed reservoir engineering work is currently being undertaken by ERCE to support the final target selection for a side-track development well, which could be drilled in 2022.In addition, a near-field exploration opportunity exists at Keddington South, (gross Mean Prospective Resources of 635,000 barrels of oil) and the Louth Prospect (gross Mean Prospective Resources of 600,000 barrels of oil).Geothermal:A programme to plug and abandon the existing Dukes Wood-1 oil well and recomplete this for geothermal heat production has been developed for Egdon by Creative Geothermal Solutions Limited and will shortly be submitted to the HSE. It is anticipated that subject to regulatory approval, this work will commence during Q1 2022.Mark Abbott, Managing Director of Egdon, commented:"The Wressle well test operations continue to exceed our expectations with instantaneous rates of over 950 barrels of oil equivalent per day achieved so far.  The well has already begun to yield a material revenue stream which will transform the financial position of Egdon in the coming period.  This production rate means that Wressle is currently the second biggest field in terms of daily production in the onshore UK after Wytch Farm, and we are confident that the well has more to give in the coming period.We await confirmation from Shell regarding next steps for the Resolution 3D seismic, and we remain optimistic about the long-term potential of this long-burner project for Egdon.  Elsewhere in our portfolio, we are making good progress with several nearer-term projects capable of adding further production, revenues and value to the business.  We are pleased to see activity gaining momentum across the portfolio and look forward to an active year ahead. I am also pleased with progress in our nascent geothermal business with plans being advanced for repurposing of the Dukes Wood-1 well and wider opportunities being considered.”

Egdon Resources plc (AIM: EDR, "Egdon"), an established exploration and production company focused on the hydrocarbon-producing basins of the onshore UK, is pleased to provide an update on operations at its Wressle Oil Field Development (“Wressle”) located in North Lincolnshire, covered by Licences PEDL180 and PEDL182 and where the Company holds a 30% operated interest.Egdon is pleased to advise that the coiled tubing operation has been completed safely and successfully and the Ashover Grit reservoir has been returned to flow, under extended well testing operations. The well flow is continuing to clean-up and has not yet reached its full potential. The measured flow rates have exceeded 500 barrels of oil per day under a restricted choke setting, which was the forecast rate following the proppant squeeze operation.We will provide a further update once stabilised flow rates are established in the coming weeks.Mark Abbott, Managing Director of Egdon, commented:"I am delighted to advise that the proppant squeeze operation has been successful in enabling the Wressle well to deliver the target production rate of 500 barrels of oil per day. Oil production will be optimised whilst the Ashover Grit reservoir continues to clean-up.  With this additional 150 barrels of oil per day net to Egdon and the current strong oil price, Wressle will have a transformational impact on Egdon’s near-term cash flow.Considerable upside remains in the additional reservoirs at Wressle and in adjacent prospects and we expect Wressle to be an important asset for Egdon for a number of years to come.I would like to take this opportunity to thank all of Egdon’s contractors who have contributed so effectively to delivering this milestone event for the Wressle joint venture.”

Egdon Resources plc (AIM: EDR, "Egdon"), an established exploration and production company focused on the hydrocarbon-producing basins of the onshore UK, is pleased to provide an update on operations at its Wressle Oil Field Development (“Wressle”) located in North Lincolnshire, covered by Licences PEDL180 and PEDL182 and where the Company holds a 30% operated interest.Egdon is pleased to advise that the proppant squeeze operation on the Ashover Grit reservoir interval in the Wressle-1 well has been completed safely and successfully. A total of 146 cubic metres of gelled fluid with 17.3 tonnes of ceramic proppant were injected into the Ashover Grit formation in line with the authorised programme. The injection operations lasted a total of only 1 hour and 30 minutes over a two-day period.There were no health, safety, environmental or security issues experienced during the operations; and as predicted, real time monitoring confirmed there was no induced seismicity and that the noise levels were well within the permitted limits. The operation was subject to a pre-operational inspection by the Health and Safety Executive and active monitoring by the Environment Agency. Ground and surface water monitoring has continued in accordance with the requirements of the Environmental Permit.All equipment and personnel associated with the operation have now demobilised from site.The Wressle well will now be subject to a coiled tubing operation to fully clean out the production tubing prior to bringing the well back into production through the site’s permanent production facilities. Based on the implemented programme, pre-operational simulation modelling concluded that the proppant squeeze operation would result in constrained flow rates of 500 barrels of oil per day (gross). Once the well is brought back into production, we will provide a further update to report on the stabilised flow rates achieved from the proppant squeeze.Mark Abbott, Managing Director of Egdon, commented:"I am pleased to report on the safe and successful completion of the proppant squeeze operations at Wressle.  I would like to thank our team of contractors and staff for the highly professional way in which the operations were undertaken with no adverse impact on the environment or the amenity of our neighbours.I now look forward to the well being placed back on production and reporting on the positive impact of the operation on future oil production from the site in the coming weeks.”

Egdon Resources plc (AIM: EDR) is pleased to announce that at the General Meeting held at 10.00 hours today Shareholders approved all the resolutions proposed in the notice of general meeting sent to Shareholders on 1^st July 2021. Capitalised terms not defined in this announcement shall have the meaning ascribed to them in the notice of meeting.

• Resolution 1, was an ordinary resolution to grant the directors authority to allot Second Tranche Shares, with 01% voting in favour and 0.99% voting against;
• Resolution 2, was an ordinary resolution to grant the directors authority to allot shares pursuant to the exercise of Warrants, with 01% voting in favour and 0.99% voting against, and;
• Resolution 3, was proposed as a special resolution, to disapply pre-emption rights as set out in the notice of the meeting, with 99.07% voting in favour and 93% voting against.

View or Download GM Results

Egdon Resources plc (AIM: EDR, "Egdon"), an established UK-based exploration and production company focused on the hydrocarbon-producing basins of the UK, is pleased to advise the positive results of a Carbon Intensity study carried out on the Biscathorpe project covered by Licence PEDL253 where the Company holds a 35.80% operated interest.The study was conducted on behalf of the PEDL253 Joint Venture by Gaffney, Cline & Associates Limited (“GaffneyCline”), an international energy consultancy. GaffneyCline’s study delivered the following conclusions:

• The Biscathorpe project as currently envisaged has an AA rating for Carbon Intensity for its potential long-term production of oil using GaffneyCline’s own rating system
• The Carbon Intensity for the Biscathorpe project is significantly lower than the current UK average and compared with other onshore analogues
• Once in production, GaffneyCline estimates that the Biscathorpe project will have a Carbon Intensity of just 3.06 grams of Carbon Dioxide equivalent per mega joule (gCO₂Eq/MJ)
• Potential exists to improve the Carbon Intensity to 1.49gCO₂Eq/MJ through adoption of gas to grid optimisation

The Carbon Intensity of the Biscathorpe project was estimated by GaffneyCline as a conceptual field development using the Oil Production Greenhouse Gas Emissions Estimator (OPGEE) developed at Stanford University. This was supplemented by reference to GaffneyCline’s proprietary Global field database together with Biscathorpe specific field development assumptions. The results of the study were benchmarked against other development analogues in GaffneyCline’s proprietary database. The study also provided recommendations that could have a further impact on reducing emissions sources (Figure 1).Table 1: Biscathorpe Project Carbon Intensity Rating (Source: GaffneyCline, July 2021)Carbon Intensity Range (gCO₂ Eq/MJ)CurrentPotentialAA≤53.061.49A5 - 7B7 - 11C11 - 20D20 - 30E30 - 50F50 - 70GOver 70Egdon can also advise that additional documentation was submitted to Lincolnshire County Council in early July in response to a Regulation 25 notice arising from the initial consultation on the planning application for the Biscathorpe project. This information will now be subject to a period of consultation before the planning application goes before the Planning Committee, currently anticipated to be in September/October 2021.Mark Abbott, Managing Director of Egdon, commented:"The results of GaffneyCline’s independent modelling provides strong evidence that a future development at Biscathorpe could achieve a low carbon intensity rating (AA).  The Climate Change Committee has acknowledged that the UK will still be using fossil fuels up to and beyond the UK’s Net Zero carbon emissions target of 2050. It follows that the production of fossil fuels should be from that which generates the lowest emissions footprint, which, like Biscathorpe, are indigenous UK sources.I am also pleased to confirm the submission of additional information in support of our planning application for the Biscathorpe project. This is expected to be considered by the Planning Committee later in 2021. Biscathorpe represents a material and financially robust opportunity to secure an indigenous oil resource which would generate local and regional economic benefits and have environmental benefits through its lower carbon footprint when compared to imported oil.”

View or Download TR-1

Conditional Equity Fundraising of approximately £1.44 million, Issue of Warrants, Exercise of Convertible Loan Notes and Notice of General Meeting 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, is pleased to announce that it has conditionally raised approximately £1.44 million before costs via a subscription for new ordinary shares of 1 pence each in the Company (the "Subscription Shares"). It also announces that the holders of the Convertible Loan Notes have exercised their right to convert into new ordinary shares of 1 pence in the Company (the “Conversion Shares”) (together the “New Ordinary Shares”).FundraisingThe Company has conditionally raised approximately £1.44 million (the "Subscription") through the issue of 115,228,000 Subscription Shares at a price of 1.25 pence per share (the "Issue Price"). The Issue Price represents a 16.67 per cent. discount to the closing price (of 1.50 pence) of the existing ordinary shares of 1 pence each (“Ordinary Shares”) on Tuesday 29 June 2021, the last trading day prior to this announcement. In addition, each Subscription Share will be granted a right to subscribe for 0.5 of a new Ordinary Share at a price of 2.5 pence per share, exercisable at any time until the date of the second anniversary of their issue (“Warrant”).Highlights

• Subscription for 115,228,000 new Ordinary Shares at an issue price of 1.25 pence per Subscription Share to raise gross proceeds of £1.44 million

• Subscription for £663,100 at 1.25 pence per Subscription Share by the Concert Party to maintain its percentage shareholding

• The net proceeds of the fundraising receivable by the Company will be used primarily to:
• Provide additional operational funding once the Wressle Field Development Plan receives regulatory approval;
• Provide funding for Licence fees and costs of the offshore Resolution and Endeavour gas discoveries;
• Provide funding in support of Egdon’s nascent geothermal projects;
• Provide working capital for continued business development; and
• The redemption at par of the Company’s 50,000 £1 redeemable preference shares.

• Certain Directors, including Mark Abbott (Managing Director), have participated in the Subscription

Mark Abbott, Managing Director of Egdon, commented:"We are very pleased by the level of support from both existing and new investors for this Subscription. The funds raised will enable Egdon to strengthen its liquidity position and provide additional funding of ongoing core projects.  We are pleased with the continuing support of Petrichor and the Concert Party and also welcome Shard Capital as a new cornerstone shareholder."Conversion of Convertible Loan NotesEgdon has also received notice from the holders of the £1.05 million Convertible Loan Notes of the conversion of all outstanding Convertible Loan Notes at the Conversion Price of 1.55 pence per Ordinary Share. Conversion of the Convertible Loan Notes (including the capitalisation of interest which has accrued on the Convertible Loan Notes) will result in the issue to Petrichor Partners of a maximum of 69,684,386 Ordinary Shares and the issue to Jalapeño of a maximum of 3,549,020 Ordinary Shares (together, the “Conversion Shares”), increasing the total interest of the Concert Party to a maximum of 184,876,452 Ordinary Shares, representing 46.04 per cent. of the Company’s enlarged ordinary share capital following the issue of the Conversion Shares.The issue of the Conversion Shares was the subject of a Whitewash procedure granted by the Panel on Takeovers and Mergers in January 2021 as previously announced.Application for Admission of New Ordinary Shares to AIMAn application will be made to the London Stock Exchange for the Conversion Shares and for the First Tranche Shares to be admitted to trading on the AIM Market of the London Stock Exchange and it is expected that admission of the Conversion Shares and the First Tranche Shares will become effective on or around Friday 9 July 2021.An application will be made to the London Stock Exchange for the Second Tranche Shares to be admitted to trading on the AIM Market of the London Stock Exchange following the General Meeting to be held on Tuesday 20 July 2021 and it is expected that admission of the Second Tranche Shares will become effective on or around Wednesday 21 July 2021.The Subscription Shares and Conversion Shares will rank pari passu with the Company’s existing Ordinary Shares in all respects.Concert PartyThe Concert Party comprises HEYCO Energy Group, Inc. HEYCO International Inc., Petrichor Holdings Coöperatief U.A, Jalapeño Corporation and Petrichor Partners, LP (and its limited partners).Following admission of the Conversion Shares and the First Tranche Shares, the Concert Party will hold in aggregate 226,241,452 Ordinary Shares (representing 46.04 per cent. of the enlarged share capital).Following admission of the Second Tranche Shares, the Concert Party will hold in aggregate 237,924,452 Ordinary Shares (representing 46.04 per cent. of the enlarged share capital).Related Party TransactionsAs the Concert Party is currently interested in more than 10 per cent. of the issued ordinary share capital of the Company, the subscription for £663,100 of the Subscription Shares is a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.Mark Abbott is a Director of the Company will be subscribing for £20,000 of new Ordinary Shares.Martin Durham is a Director of the Company will be subscribing for £2,500 of new Ordinary Shares.The participation in the Subscription by the Concert Party, Mark Abbott and Martin Durham constitutes related party transactions under the AIM Rules for Companies.The Directors of the Company (with the exclusion of Mark Abbott and Martin Durham), having consulted with the Company’s nominated adviser, WH Ireland Limited, consider the terms of the Subscription to be fair and reasonable insofar as the Company’s shareholders are concerned.General MeetingSince the Company does not currently have sufficient authority to allot all of the Subscription Shares, they will be issued in two tranches. The first tranche will be issued on Wednesday 7 July 2021 and will comprise 89,845,000 Subscription Shares (“First Tranche Shares”). The second tranche, to be issued on passing of the resolutions at the General Meeting, will comprise 25,383,000 Subscription Shares (“Second Tranche Shares”).A General Meeting is required to approve the issue of the Second Tranche Shares and to provide the Company sufficient authorities for the issue of Ordinary Shares arising from the exercise of the Warrants. The General Meeting is to be held at 10.00 a.m. on Tuesday 20 July 2021. A Notice of General Meeting will be sent to shareholders on or around the date of this announcement.The Company notes the guidance issued by the UK government restricting social gatherings in view of the ongoing COVID-19 pandemic and the fact that, if such guidance remains in place on the date of the General Meeting, as seems likely, shareholders will be prohibited from attending the General Meeting. Given the current guidance the Company requests that shareholders do not attend the General Meeting but instead appoint the chairman of the General Meeting as a proxy to ensure their vote is recognised and provide voting instructions in advance of the General Meeting. Other named proxies will not be allowed to attend the General Meeting and their votes will not be counted.Total Voting RightsThe current issued share capital of the Company is 328,315,625 Ordinary Shares, each with voting rights. This figure may be used by 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 Disclosure and Transparency Rules.Following admission of the Conversion Shares and First Tranche Shares on or around Friday 9 July 2021, the Company's enlarged issued share capital will comprise 491,394,031 Ordinary Shares, each with voting rights.Following admission of the Second Tranche Shares on or around Wednesday 21 July 2021, the Company's enlarged issued share capital will comprise 516,777,031 Ordinary Shares, each with voting rights.This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Subscription with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR.  This inside information is set out in this Announcement.  Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.View or Download Proxy FormView or Download Notice of General Meeting

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 interestEgdon 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”.

Egdon Resources plc (AIM: EDR, “Egdon”) is pleased to advise that it has received consent from North Lincolnshire Council for the storage of crude oil under the Planning (Hazardous Substances) Regulations 1992 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.This consent allows full use of the installed oil storage capacity at the site of approximately 2000 barrels and will enable the full production to be realised following from the proppant squeeze, which is expected to increase overall production to 500 barrels of oil per day (150 barrels net to Egdon). Commenting on the news Mark Abbott, Managing Director of Egdon Resources said;“We are pleased to have received this final consent, which will allow the full production potential of Wressle to be realised following the proppant squeeze operation which is planned to be undertaken during June 2021.”

Egdon Resources plc (AIM: EDR, “Egdon”) is pleased to advise that it has received all necessary consents for the commencement of the proppant squeeze operation at the Wressle Oil Field Development (“Wressle”) located in North Lincolnshire Licences PEDL180 and PEDL182 where the Company holds a 30% operated interest.The proppant squeeze operation is expected to optimise oil production from the Ashover Grit reservoir, one of the three productive reservoirs tested, to a constrained gross rate of 500 barrels of oil per day (150 bopd net to Egdon).The operation is expected to be completed and optimum oil production achieved during June 2021.The Wressle-1 well has been on 24 hour test production since late January with produced oil transported by road tanker to the Phillips 66 Humber refinery and sold under Egdon’s existing oil sales contract.Production rates have continued to increase and have exceeded our expectations with high quality free flowing oil being produced and no water present. All data confirms the independent prediction that over 500 bopd will be achievable following the proppant squeeze. The well will continue operating on test production until the proppant squeeze operation is undertaken.Commenting on the news Mark Abbott, Managing Director of Egdon Resources said;“We are delighted to have received all the required regulatory consents for the proppant squeeze operation at Wressle. When successfully completed, this will realise the full potential from the Ashover Grit reservoir and is expected to increase Egdon’s net production to 150 bopd at a time of increasingly strong oil prices leading to a step change in our cash flow.”

View or Download - Evershed - TR1 Notification - 26042021

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 2021 (“the period”).Overview and HighlightsOperational and Corporate

• Production during the period was 92 barrels of oil equivalent per day (“boepd”) (H1 2020: 178 boepd) in-line with guidance of 90-100 boepd
• Completion of the farm-outs for the Resolution and Endeavour gas discoveries (P1929 and P2304) to Shell Oil U.K. Limited
• Deferral of the Resolution 3-D seismic survey to February 2022
• Planning consent extended to 31 December 2021 for the drilling of North Kelsey-1 (PEDL241)
• PEDL143 Licence was relinquished
• Commencement of free-flow test production at Wressle following safe and successful operations to recomplete and reperforate the Ashover Grit reservoir interval

Financial Performance

• Oil and gas revenues during the period of £0.424 million (H1 2020: £0.675 million) as a result of declining production and weaker prices
• Loss of £0.763 million (H1 2020: £1.044 million) before impairments
• Overall loss for the period of £1.039 million including £0.276 million of impairments (H1 2020: loss of £3.235 million, £2.191 of impairments)
• Cash and cash equivalents of £2.422 million (H1 2020: £0.781 million)
• Net current liabilities as at 31 January 2021 of £0.126 million, which includes liability for £0.962 million convertible loan (H1 2020: £Nil) and £0.417 million deferred consideration for Wressle (H1 2020: net current assets of £0.370 million; including liability for Wressle deferred consideration of £0.417 million)
• Net Assets at 31 January 2021 of £25.658 million (H1 2020: £27.812 million)
• £1 million loan facility secured with Union Jack Oil plc
• £1.051 million convertible loan notes issued following approval at a General Meeting in January 2021

Subsequent Events

• On 26 February 2021, Egdon submitted a planning application for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe-2 well site 
• On 23 April 2021, a memorandum of understanding was executed with Creative Geothermal Solutions Limited (“CGS”) to progress geothermal projects within Egdon’s existing portfolio and to look at wider opportunities

Outlook

• Production guidance for the full year of 110-130 boepd.(2020: 145 boepd)

Our key operational focus for the coming period will be:

• Progressing the proppant squeeze at the Wressle oil field to attain target production of 150 boepd net to Egdon
• Securing planning consent for the Biscathrope-2Z side-track, testing and long-term production
• Progressing a farm-out of North Kelsey-1 and Biscathorpe-2Z with a view to drilling during 2021-22
• Progressing the acquisition of the planned 3-D seismic survey over the Resolution and Endeavour gas discoveries in February 2022
• Progressing drilling plans to target incremental oil production / near field exploration opportunities at the Keddington oil field and field redevelopment at Waddock Cross
• Developing a detailed plan for geothermal repurposing of either or both of the Dukes Wood and Kirklington wells.
• Subject to lifting of the current moratorium on hydraulic fracturing operations for shale-gas, progressing plans for further testing of our extensive Gainsborough Trough unconventional resources assets

Online PresentationThe Interim Results and Business Update presentation is available on the Egdon website: www.egdon-resources.comCommenting on the results, Philip Stephens, Chairman of Egdon said;“The most significant event during the period was the completion of site and recompletion works and commencement of oil flows at Wressle. We continue to await consent to proceed with the proppant squeeze in order to bring production up to the expected level of 500 bopd which will have a meaningful impact on our production and cash flow.  Additionally during the period, the Company completed refinancing arrangements providing working capital to pursue our key objectives.  We continue to proactively screen new low carbon Energy Transition opportunities, and are pleased to have announced an initial MoU to explore the possibilities for geothermal repurposing of some of our existing assets.    We look forward to pursuing our revised strategy in the context of an improving operating backdrop compared to the last 12 months.”View or Download Jan 2021 Interim ResultsView or Download 2021 Interim Results Presentation and Business Update