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

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

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

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

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

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

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

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

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

The Directors of Egdon Resources plc are pleased to announce that at the Annual General Meeting held at the offices of Norton Rose Fulbright on 6 December 2018, all resolutions put before shareholders at the meeting were duly passed.

At the meeting, Managing Director Mark Abbott presented a review of the business. The presentation will be available and can be accessed from the Company's website: www.egdon-resources.com.

View or Download Voting Results and Proxy Appointments

At today’s Egdon Resources plc (AIM:EDR) Annual General Meeting a new company presentation will be given (“AGM Presentation”) containing updates and further detail of the Biscathorpe-2 well.Of note are:

• Following completion of site construction - expected in early December 2018 - we will mobilise a conductor rig to set surface casing (the conductor).
• We expect to mobilise the drilling rig immediately in early January 2019 with well completion expected in mid-February 2019.
• The AGM Presentation includes further details on the Biscathorpe Prospect including the estimated range of Prospective Resources, a cross section and a comparison with the geology of the Reepham field some 20km south west of Biscathorpe, just to the west of our Fiskerton Airfield producing oil field.
• At the Reepham oilfield, the Basal Westphalian sandstone reservoir thickens dramatically off a ‘structural high’ over a very short distance and a similar development of the target reservoir is expected at Biscathorpe-2.

• The chance of success for Biscathorpe-2 remains 40% and the range of Prospective Resources is tabulated below (as estimated by Egdon).

Volumetric Input / OutputP90P50P10MeanSTOIIP (mmbo)7.5229.50142.0056.00Prospective Resources (mmbo)1.847.3035.3014.00Net to Egdon 35.8% interest (mmbo) 5.0The AGM Presentation will be available from 11:30 am today on our website at https://www.egdon-resources.com/Mark Abbott, Managing Director of Egdon Resources plc, said:“We look forward to spudding the exciting and potentially significant Biscathorpe-2 well early in the new year into one of the largest remaining undrilled onshore UK oil prospects where stratigraphic trapping - if present - could lead to significant upside for oil resources”

Egdon Resources plc (AIM:EDR), is pleased to announce that net Egdon gas production from the Ceres field, including back-out gas, during November averaged 1.16 million cubic feet of gas per day (193 barrels of oil equivalent per day). This is the first full month of production following the successful installation of a new flowmeter in October and is in line with forecasts.As a result the company expects gas sales net to Egdon for November to be in excess of £235,000.This figure does not include the sales of approximately 17 barrels per day of condensate in the period.Egdon holds a 10% interest in the Spirit Energy operated Ceres gas field in the Southern North Sea.Mark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased to report this production update from Ceres which represents a material step up in both production and cash flow for Egdon. The production from Ceres defines our strategy of maintaining a balanced portfolio of conventional production whilst also progressing our conventional exploration activity and our material unconventional acreage position.”

Egdon Resources plc (AIM:EDR) advises that its application for planning consent for the Wressle Development was refused at today’s meeting of the North Lincolnshire Council Planning Committee (“the Committee”). The application had been recommended for approval by North Lincolnshire County Council’s planning officers.Mark Abbott, Managing Director of Egdon Resources plc, said:“The decision of the Committee, whilst not entirely unexpected, is nonetheless disappointing given that the application had been recommended for approval by North Lincolnshire Council’s own professional planning officer who had the benefit of a positive assessment by specialist independent technical consultants. We agree with the conclusion of the planning officer and the independent consultants and strongly believe the new application for the development of the Wressle oil field fully and comprehensively addresses the reasons for the refusal of the original planning applications and the subsequent appeals and therefore intend to appeal this decision without delay. We will begin preparing the appeal documentation on receipt of the Committee’s decision notice.”

Egdon Resources plc (AIM:EDR) is pleased to advise that its application for planning consent for the Wressle Development has received a recommendation for approval (subject to Conditions) from North Lincolnshire Council’s Planning Officer.This application will be considered by a meeting of the North Lincolnshire Council Planning Committee on 28 November 2018.Mark Abbott, Managing Director of Egdon Resources plc, said:“I am very pleased that the Council’s Planning Officer has recommended approval of the proposed Wressle development, having diligently considered the significant body of additional work and improvements submitted as part of the application. The Planning Officer was clear in his report where he stated “it is considered that this new application addresses the concerns raised at the public inquiry and that, as a result of the additional ground investigation, site reconfiguration and improved pollution mitigation and water monitoring arrangements, the reasons given by the Inspector for dismissing the previous appeals have been overcome. This conclusion is confirmed by the external technical experts (JBA Consulting) employed by the Council to carry out a robust review of the new application and its potential environmental impacts”.We hope that the members of the planning committee will agree with the considered recommendation of their professional planning officer (supported in this case by specialist advisers), the various regulatory authorities and statutory consultees and approve the application at next week’s meeting.”

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 2018.Operational and Corporate Highlights

• Completion of site construction at Springs Road (PEDL140) where the operator, IGas, has advised it expects to commence drilling following completion of Tinker Lane-1 in H1 2019
• Acquisition of an additional 5% interest in PEDL180 and PEDL182 (Wressle) from Celtique Energie Petroleum Limited for a deferred cash payment
• Acquisition of 100% interest in Promote Licence P2304 from Arenite Petroleum Limited and Europa Oil & Gas Limited
• Completion of the acquisition of the producing Fiskerton Airfield oil field in Lincolnshire licence EXL294 and subsequent sale of 20% interest to Union Jack Oil plc to balance financial risk
• Gross production of 30,923 barrels of oil equivalent (“boe”) (84 barrels of oil equivalent per day (“boepd”)) (2017: 38,346 boe; 105 boepd) from Ceres, Keddington, Fiskerton Airfield and, for part of the period, Avington
• Farm-out of interests in PEDL253 (Biscathorpe) to Union Jack Oil plc and Humber Oil & Gas Limited
• Extension of existing consents for a further 3 years at both North Kelsey and Biscathorpe
• Submission of a new planning application for the Wressle field development to address in detail all matters highlighted by the Planning Inspector in his January 2018 dismissal of the appeals heard in November 2017

Financial Highlights

• Gross oil and gas revenues during the period of £1.00 million (2017: £1.04 million) offset by a write-off of £0.22 million (2017: £Nil) in respect of Ceres accrued back-out revenue
• Loss for the year-ended 31 July 2018 of £1.98 million after write-downs, pre-licence costs and impairment reversals of £0.40 million (2017: loss of £1.70 million after write-downs, pre-licence costs and impairments of £0.19 million)
• Basic loss per share of 0.76p (2017: basic loss per share of 0.68p)
• Cash at bank £2.77 million as at 31 July 2018 (2017: £6.06 million)
• Net current assets as at 31 July 2018 of £2.87 million (2017: £6.40 million)
• Net assets as at 31 July 2018 of £30.72 million (2017: £32.70 million)

Subsequent Events

• Appeal submitted during September against the refusal by North Lincolnshire Council to extend the existing planning consent at the Wressle-1 wellsite
• Holmwood site lease not renewed by the Forestry Commission and planning application withdrawn
• Completion of the installation of a new flow meter and restoration of production from the Ceres well
• Restart of works to complete the site construction at Biscathorpe-2 with drilling expected to commence late in 2018
• Consent for fracking at Preston New Road awarded to Cuadrilla, fracking operations commenced during October

Commenting on the results, Philip Stephens, Chairman of Egdon said;“2018 represents a landmark year for unconventional resources exploration in the UK with the commencement of hydraulic fracturing at Preston New Road in Lancashire.  Shale gas is a vital commodity to the nation and one that can be produced in an environmentally safe manner. Egdon Resources is one of the main acreage holders of prospective shale gas resources in the UK and we expect to participatein our first exploration test in the East Midlands with the drilling of the Spring Roads-1 well in 2019. The company’s overall strategic objectives are intact, despite the delays in bringing our oil discovery at Wressle through to production. Our commitment to conventional resources exploration remains, as demonstrated by the planned near-term drilling of the exploration well at Biscathorpe-2 where site construction is nearing completion.. Our financial position is good and 2019 promises to be an exciting year for Egdon and the onshore UK oil and gas industry as a whole.”View or Download  Egdon 2018 Preliminary ResultsView or Download Egdon Form of Proxy 2018

TR-1 P Evershed

Egdon Resources plc (AIM:EDR), notes the following announcement made today by Europa Oil and Gas (Holdings) plc on behalf of the operator of the Holmwood Licence PEDL143, of which Egdon holds 18.4% interest:“Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, announces that it has been notified by the Head of Estates at the Forestry Commission that the Minister for the Environment, Food and Rural Affairs, has decided not to renew the lease at Bury Hill Wood, Coldharbour Lane, Surrey. Bury Hill Wood is the proposed site for a temporary exploration well to test the conventional Holmwood prospect on licence PEDL 143 in the Weald Basin, Surrey. The lease expires on 12th September 2018.Following the Minister’s decision, the Company, on behalf of its partners, will be withdrawing its planning application to drill the Holmwood prospect from the Bury Hill Wood site.PEDL 143 has recently been extended until 30th September 2020, and in addition to the established Portland sandstone reservoir, contains the Kimmeridge Limestone which, following success at the nearby Horse Hill discovery, is an emerging play in the Weald Basin. The Company, with its partners, intends to undertake a full evaluation of alternative sites from which to target the Holmwood prospect, and other plays in the licence.”Commenting on the announcement Mark Abbott, Managing Director of Egdon said: “The Minister’s decision is highly frustrating. However, we note the commitment of the operator to evaluate alternative sites and we will work with Europa and the joint venture partners to agree a forward plan for the licence.  Meanwhile we will continue to progress our plans across our broad and extensive portfolio of UK projects.”

Egdon Resources plc (AIM:EDR), the exploration and production company with a focus on the onshore UK, is pleased to provide an update on operations following the end of the Company’s 2017-2018 financial year (“FY2018”) which ended on 31 July 2018. The Company’s preliminary results for FY2018 are scheduled to be announced on 30 October 2018.Mark Abbott, Managing Director of Egdon Resources plc, said:“The Company has a broad and extensive portfolio of projects and despite operating in what are, at present, challenging conditions for the UK onshore in terms of planning, we continue to make progress with many of our projects. During FY2018 we have completed the acquisition of the Endeavour gas discovery as a potential add-on to Resolution, increased production rates at Fiskerton Airfield, and successfully farmed out PEDL253 to allow us to proceed with drilling the very prospective Biscathorpe-2 exploration/appraisal well. The anticipated upgrade to the reserves at Ceres means that the field should produce gas and therefore provide cash flow for the Company for longer than was previously forecast. We remain confident that we will eventually gain planning consent to develop the Wressle oil discovery and have successfully acquired a further 5% interest in this asset. Finally, the Springs Road wellsite is almost complete and we expect the well, which could be a “play opener” in the Gainsborough Trough, to be drilled during the coming period.”Production Production in the second half of FY2018 came from Ceres, Keddington and Fiskerton Airfield and totalled 12,691 barrels of oil equivalent (“boe”), an average of 70 boe per day (“boepd”) (H2 2017 21,464 boe, 119 boepd). Average daily production over the full year is therefore 84 boepd against guidance of 100 boepd with the shortfall mainly due to the loss of six weeks’ production at Ceres. This was a result of the summer maintenance shut-down commencing in July, before the end of the financial year and two weeks when the field was shut-in as a result of unplanned downtime.The outlook for the Ceres field is positive as the operator, Spirit Energy, has recently advised that an increased volume of gas in-place, and hence ultimate recoverable reserves, is indicated by pressure recovery observed while the Ceres well has remained shut-in. Production will resume once a new flowmeter is installed in October 2018, and will provide a significant boost to Egdon’s production. Taking the operator’s forecasts, we expect production from Ceres (primary and back-out gas) net to Egdon to average over 125 boepd in the first half of the 2018-2019 financial year (“FY2019”).Oil production continues at Fiskerton Airfield (25-27 bopd gross) and Keddington (20-24 bopd gross). Additional intervention is being considered in the Fiskerton Airfield FA-1 well for early 2019 and we continue to review the possibility of further sidetrack drilling at Keddington.We will provide production guidance for FY2019 with our preliminary results, but initial guidance for the first half of the financial year is c. 160-180 boepd.OperationsPreparations continue for drilling the potentially play opening exploration well Springs Road-1 in the Gainsborough Trough (PEDL140, Egdon 14.5% carried). The operator, IGas, recently advised that construction works at the wellsite are nearing completion and confirmed that the well will be drilled after their nearby Tinker Lane-1 well where they now expect to commence drilling operations in Q4 2018.Elsewhere, we note that Cuadrilla Resources have completed the drilling of two horizontal wells at Preston New Road and recently received government approval for hydraulic fracturing and testing. We expect to hear the first results from these multistage tests in late Autumn 2018.At Biscathorpe (PEDL253) we have successfully farmed-out the drilling of Biscathorpe-2 which will evaluate a 1987 BP conventional oil discovery with Mean Prospective Resources net to Egdon estimated at 5 million barrels of oil. We are updating the tenders for all materials and services including the rig with a view to commencing completion of the site construction during late September 2018 and drilling operations in October/November 2018.At North Kelsey (PEDL241) we are finalising the application for the Environmental Permit and continue to seek further farminees for North Kelsey-1 which we hope to drill during H1 2019. The North Kelsey prospect has a Mean Prospective Resource net to Egdon estimated at 5.2 million barrels of oil and is considered similar to the Wressle discovery in holding the potential for multiple stacked reservoirs being charged with oil.In May 2018, Lincolnshire County Council (“LCC”) Planning Committee granted extensions to the existing planning consents to drill conventional resource exploration wells at North Kelsey and Biscathorpe. We have since been notified that LCC has been challenged by local activists as to the legality of their planning decisions. Although at this time we do not expect this to impact the timing of our operations at either well, we will keep this under review as the process unfolds. Separately, the Oil and Gas Authority (“OGA”) has granted extensions for both licences PEDL253 and PEDL241 to 30 June 2020.The Company has continued to make progress with the nearshore Resolution gas discovery (P1929, 41/18+19) during the period and has completed the acquisition of the adjacent licence P2304 (41/24) containing the Endeavour gas discovery confirmed by three wells drilled between 1969 and 1993 which tested at rates of up to 34 million cubic feet of gas per day with 1,280 barrels per day of condensate. Mapping using newly reprocessed 2D seismic data has yielded estimated Mean Contingent Resources for Endeavour of approximately 20 billion cubic feet (“bcf”) of gas, sufficient to make it a suitable candidate as a satellite development to add value to Resolution where we estimate Mean Contingent Resources of 330bcf. Egdon continues to seek an industry partner and/or investors to share the forward costs and is working with a respected industry contractor to produce an updated reservoir model and CPR. Our forward plan is to acquire a new 3D seismic survey during early 2019 to enable optimisation of an offshore appraisal well for Resolution.During the period Europa Oil & Gas Limited, the operator at Holmwood (PEDL143), announced the submission of an application to vary the existing planning consent and extend it by three years. They further announced that the OGA has extended the initial term of the licence until 30 September 2020 and that the Environmental Permit for the proposed drilling operations had been issued by the Environment Agency. The Holmwood prospect has an estimated Mean Prospective Resource of 1.14 million barrels of oil net to Egdon and is considered geologically analogous to the nearby Horse Hill-1 discovery.Turning finally to the Wressle project, in early July 2018 we announced the submission of a new planning application for the development of the oil discovery to North Lincolnshire Council (“NLC”). Egdon strongly believes that this new application comprehensively addresses the reasons for the refusal of the original planning applications and the subsequent appeals as set out in detail in our announcement of 5 July 2018.Whilst we will maximise our efforts to convince the planning officers and, more importantly, members of the NLC Planning Committee of the clear merits of our new application, our recent experiences with NLC means we have to remain fully prepared to take this new application through another appeal process. As the most recent example of their apparent intransigence, on 1 August 2018 the NLC Planning Committee refused our application to extend the existing consent for the Wressle site despite a recommendation for approval from their own professional planning officers. The reasons cited were conflicts with paragraph 205 of the NPPF and policy M21 of the North Lincolnshire Local Plan even though in his decision of January 2018 the Inspector found in Egdon’s favour on our appeal against the same reasons. We are now in the process of appealing this latest refusal decision and are increasing our lobbying and engagement efforts in respect of the Wressle project.Notwithstanding, and demonstrating our commitment to and confidence in the Wressle field development, in June 2018 we announced the acquisition of an additional 5% interest in PEDL180 and PEDL182 from Celtique Energie Petroleum Limited for a deferred cash consideration of £0.417m payable on commencement of production.

Egdon Resources plc (AIM:EDR) advises that its application to extend planning consent for the Wressle site to 1 August 2019 was refused at today’s meeting of the North Lincolnshire Council Planning Committee (“the Committee”). The application had been recommended for approval by North Lincolnshire County Council’s planning officers.Mark Abbott, Managing Director of Egdon Resources plc, said:“The decision of the Committee is clearly disappointing given that the application had been recommended for approval by North Lincolnshire Council’s own professional planning officers, that an appeal for a previous refusal of such an application had been successful and that we have recently submitted a new application for the development of the Wressle oil field which we strongly believe comprehensively addresses the reasons for the refusal of the original planning applications and the subsequent appeals. We intend to appeal this decision without delay and will begin preparing documentation on receipt of the Committee’s decision notice.”

180727 - 3i Infrastructure plc TR1