Egdon Resources plc, the UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of the onshore UK and mainland Europe, is pleased to provide further details of the licences offered...
Egdon Resources plc, the UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of the onshore UK and mainland Europe, is pleased to provide further details of the licences offered to it in the UK 13th Landward licensing round.
As previously reported the Department for Business Enterprise and Regulatory Reform has offered Egdon a total of six operated Petroleum Exploration and Development Licences (“PEDL’s”). These licences are located within two of the Company’s focus areas, the East Midlands Petroleum Province and the Wessex Basin of Dorset. All licence awards are subject to the usual regulatory approvals.
Egdon and its joint venture partners have been offered PEDL237 within the Wessex Basin in Dorset, Southern England. Egdon will hold a 45% interest in the licence with partners First Oil Expro Ltd (26.25%), Sterling Resources (UK) Ltd. (18.75%) and Dorset Exploration Limited (10%). The licence is contiguous to existing licences PEDL048 and PL090. The area contains a number of high potential oil prospects identified on proprietary reprocessed 2-Dimensional (“2D”) seismic data. The main plays within the block are the Sherwood Sandstone and Bridport Sandstone which are productive at the Wytch Farm oil field
located some 20 kilometres to the east. Egdon have mapped best estimate gross prospective resource potential of 70 million barrels of oil (“mmbo”) within the licence. The work programme will comprise of prestack depth migration of existing 2D seismic data prior to making a drill or drop decision on the licence.
Five licences have been offered in the East Midlands Petroleum Province of Nottinghamshire, Lincolnshire and Leicestershire, an area where Egdon will now hold 15 licences.
