Drilling Update

Egdon Resources PLC
21 December 2007



For Immediate Release                                           21 December 2007


                              EGDON RESOURCES PLC
                           ('EGDON' or 'the Company')

                   Results of Burton Agnes-1 Exploration Well

Egdon Resources Plc (AIM:EDR) the onshore UK focused energy company today
provides an update on results from the Burton Agnes-1 Exploration well on the
Egdon operated licence PEDL071 located in East Yorkshire where the Company holds
a 25% interest.

The Burton Agnes-1 well reached a TD of 2290 metres measured depth, 1982 m sub
datum vertical depth on 17 December 2007. Gas shows were observed in the Leman
Sandstone and fractures within carbonates of the overlying Zechstein sequence.
Petrophysical analysis of the wireline log data has indicated that the primary
reservoir target, the Leman Sandstone, was water wet. The Leman Sandstone was
penetrated deep to prognosis due to a thicker than predicted Zechstein section
in the well which was drilled on the north eastern margin of the prospect.

The gas zones within the Zechstein were not considered worth testing. As such
the well is currently being suspended whilst the results of the well are
incorporated into the structural and geological model for the Fraisthorpe
Prospect to determine if a structurally elevated target can be reached from the
current well site. Egdon's costs for the well have been carried.

Commenting on the results of the well, Mark Abbott, Joint Managing Director of
Egdon said

'Whilst we are disappointed that the primary target was water bearing this the
first well on the Fraisthorpe Prospect has confirmed the presence of thick, good
quality Leman sandstone reservoir and a viable petroleum system. The well has
shown the area to be more complex than our pre-drill view and we remain
encouraged by the potential for the area. As such we have made the decision to
suspend the well to provide the option to sidetrack to a more elevated part of
the structure once our post-well evaluation is completed.'

For further information please contact:

Egdon Resources Plc

Mark Abbott, Joint Managing Director                      01256 702 292

Andrew Hindle, Joint Managing Director                    0208 332 1200

Buchanan Communications

Ben Willey                                                020 7466 5000

Nicholas Melson

Seymour Pierce

Jonathan Wright                                           020 7107 8000


Notes to Editors:


The co-venturers in the PEDL 071 licence are as follows:

+------------------------------------+------------+
|Company                             |    Interest|
+------------------------------------+------------+
|Egdon Resources Plc (Operator)      |       25.0%|
+------------------------------------+------------+
|Sterling Resources (UK) Limited     |       20.0%|
+------------------------------------+------------+
|Gas Plus E&P UK Limited             |       17.5%|
+------------------------------------+------------+
|Gas Plus O&G UK Limited             |       17.5%|
+------------------------------------+------------+
|Granby Enterprises Limited          |       10.0%|
+------------------------------------+------------+
|Montrose Industries Limited         |       10.0%|
+------------------------------------+------------+
|                                    |      100.0%|
+------------------------------------+------------+

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 has developed two distinctive businesses; an oil and gas exploration
and production business which has a portfolio of twenty four exploration
licences, and 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 in January 2008.


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.



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