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EDR Egdon Resources Plc

4.40
0.00 (0.00%)
25 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Egdon Resources Plc LSE:EDR London Ordinary Share GB00B28YML29 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 4.40 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Egdon Resources Upgrades Interest in U.K. Onshore License

04/04/2017 9:35am

Dow Jones News


Egdon Resources (LSE:EDR)
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LONDON--Egdon Resources PLC (EDR.LN) said Tuesday it has exchanged its 12% stake in the U.K. onshore license PEDL209 in the Gainsborough Trough with Stelinmatvic Industries Ltd.'s 12 % stake, for which it also issued 580,646 shares.

The value of the issued shares is of 54,000 pounds ($67,779), the company said.

In addition, Egdon has agreed with Total E&P U.K. Ltd., a subsidiary of Total S.A. (FP.FR), to let Total farm-in at PEDL209 until the end of next year.

Total will spend GBP13.5 million on the license and will earn an interest of 36%, Egdon said.

Shares at 0805 GMT up 0.75 pence, or 8%, at 10.13 pence valuing the company at GBP26 million.

 

-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

 

(END) Dow Jones Newswires

April 04, 2017 04:20 ET (08:20 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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