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Egdon notes that INEOS Upstream Limited ("INEOS") has recently completed its acquisition of Total E&P Limited’s (“Total”) interests in certain UK onshore licences held jointly with Egdon in Gainsborough Trough area.There is no change to Egdon’s financial position or equity interests resulting from this transaction. Total's obligations to carry Egdon in respect of PEDL 139 and 140 have been taken over by INEOS in full.Following completion of the acquisition the new equity interests in the licences are as outlined in the table below:LicenceRegion Equity interests post transactionOperatorPEDL 139North NottinghamshireIGas 32%, INEOS 40%, Egdon 14.5%, ECorp 13.5%IGasPEDL 140North NottinghamshireIGas 32%, INEOS 40%, Egdon 14.5%, Ecorp 13.5%IGasPEDL 273YorkshireIGas 35%, INEOS 30%, Total 20%, Egdon 15%IGasPEDL 305YorkshireIGas 35%, INEOS 30%, Total 20%, Egdon 15%IGasPEDL 316LincolnshireIGas 35%, INEOS 30%, Total 20%, Egdon 15%IGasINEOS has also acquired from Total, Opt-In rights to Egdon’s operated licence PEDL209, as announced in April 2017, and the associated carry of £13.47m (£4.85m net to Egdon’s 36% interest if the option is exercised).Commenting on the deals, Mark Abbott, Managing Director of Egdon Resources plc, said:“INEOS has made verysubstantial commitments to UK shale exploration and Egdon looks forward to working with INEOS in PEDL139/140. Equally we are pleasedto welcome INEOS into our 14th Round licencesandalsotoPEDL209shouldINEOSexerciseitsoptionto participate.We now look forward to the drilling of Springs Road-1 in 2018and further proof of concept exploration across the play in Egdon’s core area of Gainsborough Trough.”Historical Total Deals with Egdon Resources et alIn January 2014, we announced two highly significant deals with Total, the first international major to take a position in UK shale-gas. The first was a farm-in by Total to licences PEDL139/140 where they will earn a 40% interest through a carried work programme of up to c. £28 million ($46.5 million) with a minimum commitment of c. £12 million. As a result of this and other linked transactions Egdon now holds a 14.5% interest in the licences, up from 13.5% previously, and received c. £0.37 million in cash in 2014 under inter-party agreements.The second was a Farm-in Option Agreement in respect of PEDL209, whereby Total had an option, exercisable until 31 December 2015, to earn a fifty per cent interest in the licence by paying for an exploration programme of £13.47 million. Egdon received a cash payment of £0.92 million and retained the exploration rights at Laughton-1 (2016 dry hole) and two other prospects, all of which are purely conventional and were excluded from the option. In April 2017 Egdon entered into a new Opt-In Agreement with Total on PEDL209. Under the terms of the agreement, Total has an option to farm-in to unconventional resources exploration in PEDL209, exercisable until 31 December 2018 and to earn a 36% interest in the licence by paying Egdon’s remaining 36% (together with Total’s own 36% interest) of an exploration programme of up to a gross £13.47 million which would include seismic acquisition and the drilling of a well.These transactions were intended to deliver a significant work programme designed to de-risk the Gainsborough Trough Bowland-Hodder shale-gas play. Since signature, we have completed 3D seismic acquisition over parts of PEDL139/140 and the operator completed a period of community engagement ahead of planning and permitting work culminating in the receipt of planning permission for Springs Road 1 & 2 wells in November 2016. 

Egdon Resources plc (AIM:EDR) is pleased to announce the sale of a 20% interest in the recently acquired producing Fiskerton Airfield oil field in Lincolnshire licence EXL294 to Union Jack Oil plc (“Union Jack”).The cash consideration for the 20% interest is approximately £137,000. In addition, Union Jack will wholly fund re-processing of the 3D seismic dataset at a gross cost of £35,000. The combined consideration and carry is equivalent to approximately £165,000 (or approximately $218,000).The effective date of the agreement is 3 November 2017 and Union Jack will receive 20% of all production revenues from Fiskerton from that date. Completion of the acquisition is subject to Oil and Gas Authority approval.Following completion of the transaction the interests held in EXL294 will be:Egdon Resources U.K. ltd 80%Union Jack Oil plc 20%On 10 July 2017 Egdon Resources U.K. Limited (or “the Company”) announced the acquisition of a 100% interest in, and operatorship of the Fiskerton Airfield oil field from Cirque Energy (UK) Ltd (“Cirque”) for a cash consideration of $750,000. This acquisition completed on 27 October 2017.Commenting on the sale, Mark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased to welcome Union Jack as a partner on the Fiskerton Airfield Oil Field.  We have elected to sell a minority interest in the field to manage our overall financial exposure to the asset going forward and to enable evaluation of the up-side at minimal cost through the carried seismic reprocessing. As we stated back in July 2017 the field has suffered from a lack of investment over recent years and we plan to undertake simple low-cost workovers to enhance production and profitability in the short-term, adding valuable near-term cash-flow to Egdon’s portfolio. In the longer term, the reprocessed 3D seismic will inform our views on the potential to enhance productivity through in-fill drilling.”

Egdon Resources plc (AIM: EDR), a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, today announces its audited results for the year ended 31 July 2017.Operational and Corporate Highlights

• Successful placing and open offer to raise £5.06 million before costs in November 2016

• Planning consent granted to operator IGas to drill up to two exploratory wells at Springs Road, North Nottinghamshire (Egdon 14.5% interest) - Egdon is carried on these initial wells
• ERC Equipoise reported an independent assessment of the undiscovered gas initially in place (“GIIP”) in ten previously unassessed licences resulting in a total mean volume of 50.9 trillion cubic feet (“TCF”) of gas net to the Company
• Issue of the Wressle Environmental Permit variations. Submission of the appeals against the January and July planning refusals which have been co-joined and will be considered at an appeal hearing in November 2017
• Acquisition of additional interests in PEDL068, PEDL201, PEDL306 and PEDL334
• Acquisition of a 50% interest in PEDL278 containing the Kirk Smeaton tight gas discovery and further unconventional resources potential
• Acquisition of an additional 12% interest in PEDL209 (deep) and signature of a new option agreement with Total which, if exercised, includes a carried work programme valued at up to £4.85 million to Egdon
• Acquisition of the Fiskerton Airfield producing oil field (EXL294) in the East Midlands for a cash consideration of US$750,000
• Completion of the Company’s exit from France

Financial Highlights

• Oil and gas revenues during the period of £1.04 million (2016: £1.59 million)
• Loss for the period of £1.70 million for the year ended 31 July 2017 after net write downs and impairments of £0.19 million (2016: loss of £2.69 million after net write downs and impairments of £0.72 million)
• Basic loss per share of 0.68p (31 July 2016: basic loss per share of 1.21p)
• Cash at bank of £6.06 million as at 31 July 2017 (31 July 2016: £2.68 million)
• Net current assets as at 31 July 2017 of £6.40 million (31 July 2016: £4.18 million)
• Net assets as at 31 July 2017 of £32.70 million (31 July 2016: £29.43 million)

Commenting on the results, Philip Stephens, Chairman of Egdon said;“In a period of further progress, we were pleased to complete an equity cash raising of £5.06 million in November 2016, which has significantly strengthened our balance sheet. An independent evaluation of the net gas in place for our unconventional resources has given a figure of 50.9 TCF, which shows an increase of 180% over the estimate made two years ago.  Our conventional resources portfolio contains a number of very attractive prospects, the value of which we are looking to progress in the next 12 to 18 months.” View or DownLoad 2017-10-31 EDR Preliminary Results FinalView or Download Egdon AGM Proxy Form 2017 

Egdon Resources plc (AIM:EDR) is pleased to announce the completion of the acquisition of the producing Fiskerton Airfield oil field in Lincolnshire licence EXL294 announced 10 July 2017.Egdon Resources U.K. Limited (or “the Company”) has acquired a 100% interest in, and operatorship of the Fiskerton Airfield oil field from Cirque Energy (UK) Ltd (“Cirque”) for a cash consideration of $750,000.The effective date of the acquisition is 1 January 2017. The field sales averaged 16 barrels of oil per day (“bopd”) in the second half of the recently closed Egdon financial year (February-July 2017) the field having been shut in for repairs during January 2017.The field is currently producing circa 16 bopd from one of two production wells (FA-3).Egdon plans to enhance the cash flows and profitability of the operation by increasing production initially to between 30 and 40 bopd via low cost well interventions. During the next few months it is planned to workover both the currently producing FA-3 and the shut-in FA-1 wells by installing new tubing, pumps and isolating water producing zones.

View or Download TR-1 Notification of Major Holdings

Fulfilment of Planning Conditions for Holmwood well in the Weald BasinEgdon Resources plc (AIM:EDR) notes the release made this morning by Europa Oil and Gas Holdings) plc (“Europa”) in respect of PEDL143 where Egdon holds an 18.4% interest. Europa included the following statements;“Europa Oil & Gas (Holdings) plc, UK and Ireland focussed exploration, development and production company notes the outcome of the Surrey County Council Planning and Regulatory Committee meeting on 18 October 2017 in connection with a conventional oil exploration well to test the Holmwood prospect at Bury Hill Wood, Coldharbour Lane, Surrey:

•  A planning application for a security fence for the drill site was approved by Surrey County Council (‘SCC’) at the Planning and Regulatory Committee meeting on 18 October 2017.
•  The Planning Committee elected to defer a decision on Condition 19 (Traffic Management Scheme) pending response to further requests for information from the Planning Committee.

 Europa will consult with its joint venture partners and advisers and respond to SCC on Condition 19 accordingly.  As a consequence of the deferred decision on Condition 19, the Company advises that it anticipates operations to drill the Holmwood conventional oil exploration well will now commence in H1 2018. Europa is operator of the Licence in which it holds a 20% interest, alongside UK Oil & Gas Investments plc 30%, Egdon Resources plc 18.4%, Angus Energy plc 12.5%, Warwick Energy 10%, Union Jack Oil plc 7.5% and Altwood Petroleum 1.6%.” ENDS

TR1 - EGDON RESOURCES PLC - 21 09 17

Egdon Resources plc (AIM:EDR) announces that its Preliminary Results for the year ended 31 July 2017 will be announced on Tuesday, 31 October 2017.An analyst meeting will be held at 9.30am on 31 October 2017 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.

Egdon Resources plc (AIM:EDR) the UK-based exploration and production company with a focus on the hydrocarbon-producing basins of the onshore UK is pleased to provide shareholders with an update on the Company’s licence portfolio and operations.The Company has a broad and extensive portfolio of projects and the last quarter has seen progress on a number of our strategic objectives. Of note are;

• Acquisition of a 50% interest in PEDL278 containing the Kirk Smeaton tight gas discovery and further unconventional resources potential
• Acquisition of an additional 20% interest in PEDL209 (deep) and signature of a new option agreement with Total with, when exercised, a carried work programme valued at up to £4.85 million to Egdon
• Progress with the consents for the Springs Road wells with drilling now expected later in 2017
• Acquisition of the Fiskerton Airfield (EXL294) producing oil field in the East Midlands which adds production from the effective date of 1^st January 2017
• Issue of the Wressle Environmental Permit variations and submission of the appeals against the January and July planning refusals which have been co-joined and will be considered at an appeal hearing expected in November 2017
• Completion of the Company’s exit from France with the relinquishment of the Pontenx permit and withdrawal from the Mairy permit.

Commenting on the update and outlook, Mark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased to provide shareholders with this operational update ahead of a potentially transformational period for the Company and the onshore UK E&P business with significant news flow expected in both conventional and unconventional resources exploration.The fundamentals of the business remain robust with the Company being debt free, holding a range of assets with excellent potential for both conventional and unconventional resources in a jurisdiction which remains commercially attractive even with current commodity prices, and with a strong balance sheet allowing us to deliver on our strategy. We remain committed to, and optimistic about, obtaining planning consent for the development of the Wressle oil discovery and look forward to the planning appeal in early November and the decision, which is likely early in 2018.In the meantime we plan to workover the newly acquired Fiskerton Airfield wells to increase production and expect the Holmwood-1 well to be drilled in the Weald with potential exposure to the Kimmeridge Limestone play which is due to be tested at the nearby Brockham oilfield and Horse Hill and Broadford Bridge discoveries. We look forward to commencement of operations at Springs Road-1, the potentially play opening Gainsborough Trough exploration well where Egdon’s costs are carried, later in 2017. This well along with the Tinker Lane well to the south and other UK drilling and testing activity will potentially provide the data required to de-risk our core area for unconventional resources.”Unconventional ResourcesOver the past three years Egdon has successfully increased its unconventional resources acreage position in Northern England by 360% to c. 201,000 net acres (814 net km²) through a series of targeted acquisitions, farm-ins and success in the 14^th Round.The second half of 2017 is expected to see significant activity in this sector of our business with the planned drilling, hydraulic fracturing and testing of two horizontal wells at Preston New Road by Cuadrilla, hydraulic fracturing and testing operations by Third Energy at Kirby Misperton-8 (“KM-8”) and 3D seismic acquisition by INEOS in the East Midlands including over parts of Egdon’s PEDL001 and PEDL130 licences. In relation to our own licence activity, the operator IGas has advised that it intends to drill the potentially play opening Gainsborough Trough exploration well Springs Road-1 (PEDL140, Egdon 14.5% carried) later in 2017. This is a key well for Egdon as it is located in our core area for unconventional resources. The well will drill a thick Lower Carboniferous tight sand and shale sequence and will be extensively logged and cored to provide a full suite of modern data with which to evaluate the play properly.We have made considerable progress on our operated and non-operated 14^th Round licences since award. Work to date has included extensive cuttings sampling and analysis and integration with petrophysical models, the acquisition and interpretation of new gravity data, and the reprocessing and interpretation of existing seismic data. These studies will support the planning for additional seismic acquisition on several licences expected during 2018 and in planning exploration wells in future years.There is currently significant interest in the Carboniferous tight gas sandstone plays of the Cleveland Basin and Southern North Sea with a well at present being drilled offshore by BP at Ravenspurn North. Later in 2017, Third Energy will test KM-8 onshore with potential read through to the neighbouring Cloughton gas discovery (Egdon 17.5%) and Resolution Prospect (Egdon 100%).Elsewhere, we note that IGas has applied for planning permission to test gas shows in the Pentre Chert in the 2014 Ellesmere Port-1 exploration well. This well is located very close to PEDL191 (Egdon 100%). This possibly extensively naturally fractured chert is a newly identified potential gas play.Conventional Resources Exploration and Appraisal:Egdon’s next drilling activity is likely to be the Holmwood-1 conventional exploration well in Weald Basin licence PEDL143 (Egdon 18.4%) where the operator, Europa Oil and Gas (“Europa”), has advised that they expect to commence operations later in 2017 once all final approvals are in place. In addition to targets in the Portland and Corallian sandstones, where the operator has estimated mean prospective resources of 5.6 mmbls of oil (“mmbo”) (net Egdon 1.03 mmbo), the well will also test the highly prospective Kimmeridge Limestone play. The Horse Hill-1 well (UK Oil and Gas Investments plc (“UKOG”)) is located some 8 kilometres to the east of Holmwood in a similar structural position and tested 323 barrels of oil per day (“bopd”) from the Portland Sandstone and 1,365 bopd in total from two intervals in the Kimmeridge Limestone. Egdon is largely carried on the Holmwood-1 well by UKOG. Over the next few months extended well tests at Horse Hill and Brockham (Angus Energy plc) and testing at Broadford Bridge (UKOG) will provide further insights into the commerciality of the Kimmeridge Limestone play and its potential at Holmwood.The Oil and Gas Authority (“OGA”) has granted Egdon licence extensions for both PEDL253 (Biscathorpe) and PEDL241 (North Kelsey) to 30 June 2018. In July Egdon announced the issue of the environmental permits required for the operated Biscathorpe-2 exploration well in Lincolnshire licence PEDL253. The Biscathorpe Prospect is estimated by Egdon to hold mean prospective resources of 14.0 mmbo (Egdon 7.4 mmbo) but could be significantly larger if a stratigraphic trapping mechanism enhances the prospect’s westerly closure. Drilling operations at Biscathorpe-2 are expected to commence early in 2018.We also continue to pursue partnership opportunities for the North Kelsey Prospect in Lincolnshire licence PEDL241 where we estimate mean prospective resources of 6.5 mmbo (Egdon 5.2 mmbo) in stacked reservoir targets, and hope to drill the well by mid-2018.Egdon has made continued progress with the Resolution Prospect (160bcf, Egdon 100%) in UK offshore licence P.1929. Following the interpretation of reprocessed seismic data, we now plan to acquire a new 3D seismic survey during 2018 to confirm the potential resource volumes and enable optimisation of the planning for an offshore appraisal well. Egdon is seeking an industry partner and/or investors to share the forward costs. The 3D survey will also assist in understanding the Carboniferous potential within and around the Resolution Prospect where unconventional resource prospectivity in tight gas sands, a play currently being tested by BP offshore and Third Energy onshore, may be significant on this large regional structure.The Company completed its withdrawal from France during the past quarter with withdrawal from the renewal process for both the Pontenx and Mairy permits. The Company’s attention and resources are now focussed solely on the UK.Producing AssetsThe Ceres gas field has been shut-in since October 2016 with attributable production derived from “back-out” gas produced from the Mercury and Neptune gas fields. Installation of a new flow meter at Ceres, expected in 2018 will facilitate simultaneous production of the Ceres gas field with the other fields in the system. The various production facilities were shut down for annual maintenance during early July with production recommencing in early August. The relative timing of the 2016 (September-October) and 2017 (July) maintenance shut-downs has resulted in only 9 months of production contribution from Ceres during the 2016-17 financial year. Despite this, mean daily production for the full year is expected to be in-line with our latest guidance of 100-110 boepd.The Keddington oil field continues to produce in line with forecasts from the K-3Z well at c. 24 bopd (net to Egdon 12 bopd) and we now expect to take a decision on further drilling on the field in the autumn of 2017. Avington also continues to produce in line with expectations.In July 2017 Egdon announced the acquisition of 100% of the producing Fiskerton Airfield oil field in Lincolnshire licence EXL294 for $0.75 million. The field has suffered from a lack of investment over recent years and we plan to undertake simple, low-cost workovers to enhance production and profitability in the short-term, adding valuable near-term cash-flow to Egdon’s portfolio. In the longer term, we will investigate the potential to enhance productivity through in-fill drilling. Completion of this acquisition is expected later in August with an effective date of 1st January 2017 meaning that production from then of c. 17-18 bopd will be allocated to Egdon.A significant focus during the period has been to progress our Wressle oilfield development, where planning was refused by the North Lincolnshire District Council Planning Committee at meetings in January and July 2017 despite recommendations to approve from the council’s planning officers on each occasion. We have co-joined appeals against both of these decisions and expect the planning inquiry to be heard in early November 2017. The inquiry will be heard by an independent planning inspector who will consider the applications in the context of their planning merits. A successful outcome would see the commencement of operations to establish long term production which would be expected to add 125 bopd to Egdon’s production.Egdon has interests in a number of currently shut in fields where we continue to seek innovative ways of bringing them back into profitable production. For example, we have initiated discussions with third parties on potential further investment in, and the restarting of production from, the shut-in Dukes Wood (PEDL118) and Kirklington (PEDL203) oil fields. If an agreement were to be reached we would expect operations to commence in late 2017.We also continue to evaluate the shut-in Waddock Cross oil field (PL090) where we have nearly completed reprocessing 3D seismic data, and the Kirkleatham gas field (PEDL068) where we have completed specialist processing of key seismic lines to confirm the remaining unproduced gas resources and have identified additional gas potential within the underlying Carboniferous sandstones.