Egdon Resources PLC
20 August 2007
Immediate Release 20 August 2007
EGDON RESOURCES PLC
('EGDON' or 'THE COMPANY')
Avington-3z Production Testing- Preliminary Results
Egdon Resources Plc (AIM:EDR), the onshore UK focused energy company, notes
today's announcement by the operator Star Energy plc in relation to production
testing operations on the Avington-3z well in the onshore UK licence PEDL070,
where Egdon holds a 20% interest.
Drilling operations at the Avington-3z well, which was drilled to a total depth
of 2498 metres, were completed on 11th July 2007.
Due to difficulties in installing the planned jet pump completion, the well has
been on free-flow production through a 14/64 inch choke since the 10th of August
since which time the well has been producing an average of of 470 barrels per
day of 38 deg API oil with only minor traces of water.
The well will be left on free-flow production until the jet pump is installed in
the near future.
Commenting on current operations at Avington Mark Abbott, Joint Managing
Director of Egdon said:
'Although it is still in the early stages of the evaluation of Avington-3z, we
are encouraged by the results to date. We await completion and testing of the
well with a jet-pump to give a further indication of the well's true commercial
potential.'
For further information please contact:
Egdon Resources Plc
Mark Abbott, Joint Managing Director 01256 702 292
Andrew Hindle, Joint Managing Director 0208 83321200
Buchanan Communications
Ben Willey 020 7466 5000
Nicholas Melson
Seymour Pierce
Jonathan Wright 020 7107 8000
Notes to Editors:
Company Background
Egdon is an established, UK-based energy company primarily focused on the
onshore UK. Egdon also has exploration interests in the offshore UK and France.
Egdon's shares are traded on the AIM market.
The Company is developing two distinctive businesses:
•An oil and gas exploration and production business which has a portfolio
of twenty exploration licences containing identified oil and gas prospects
ranging from discoveries under appraisal through to higher risk but higher
reward 'wild-cat' exploration prospects.
•A gas storage business initially focused on the development of a major
salt cavern gas storage facility on Portland, Dorset.
Egdon plans to demerge the two businesses on or soon after 21 December 2007.
In accordance with AIM rules - guidance for mining, oil and gas companies, the
information contained in this announcement has been reviewed and signed off by
the Joint Managing Director of Egdon Resources Mark Abbott, a Geoscientist with
over 21 years experience.
This information is provided by RNS
The company news service from the London Stock Exchange
LFFSSWSEEA
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