Egdon Resources PLC Cloughton Gas in Place Update (9224L)

TIDMEDR

RNS Number : 9224L

Egdon Resources PLC

11 September 2023

11 September 2023

EGDON RESOURCES PLC

("Egdon" or "the Company")

Cloughton Gas in Place Update

Egdon Resources plc (AIM:EDR), the UK Energy Company, notes the press release made this morning by Europa Oil and Gas (Holdings) plc ("Europa") in relation to the Cloughton gas discovery in PEDL343 where Egdon holds a 40% interest. The release from Europa stated the following:

"Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and gas exploration, development, and production company, is pleased to announce that it has completed a preliminary audit of the Cloughton gas in place volumes which has resulted in a Pmean GIIP of 192 BCF and a range as detailed in the following table.

 
  Cloughton    P90   P50   Pmean   P10 
 GIIP - BCF    118   184    192    274 
              ----  ----  ------  ---- 
 

Note, it is only statistically correct to sum the Pmean volumes.

The discovery well at PEDL 343 (Cloughton) (in which Europa has a 40% interest) flowed good quality sweet gas at rates of up to 40,000 scf/day on natural flow and the Company believes that that a well could flow at 6 mmscf/day using the correct completion techniques."

For further information please contact:

Egdon Resources plc

Mark Abbott, Martin Durham 01256 702 292

Buchanan

Ben Romney, Barry Archer 020 7466 5000

Nominated Adviser & Joint Broker - WH Ireland Limited

   Antonio Bossi, Chris Hardie, James Bavister                                           020 7220 1666 

Joint Broker & Financial Advisors - VSA Capital Limited

Andrew Monk, Andrew Raca 020 3005 5000

Qualified Person Review

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, this release has been reviewed by Mark Abbott, Managing Director of Egdon, who is a geoscientist with over 30 years' experience and is a member of the Petroleum Exploration Society of Great Britain and a Fellow of the Geological Society. Mr Abbott has consented to the inclusion of the technical information in this release in the form and context in which it appears.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

About Egdon

Egdon Resources plc (LSE: EDR) is an established UK-based energy company focused on onshore exploration and production in the UK.

Egdon holds interests in 33 licences in the UK and has an active programme of exploration, appraisal and development within its portfolio of oil and gas assets. Egdon is an approved operator in the UK. Egdon was formed in 1997 and listed on AIM in December 2004.

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September 11, 2023 02:00 ET (06:00 GMT)