Production Starts at the Avin

RNS Number : 3108M

Egdon Resources PLC

27 January 2009

 



For Immediate Release

27 January 2009

EGDON RESOURCES PLC 

('Egdon' or 'the Company')

Production Starts at the Avington Oil Field

Egdon Resources plc (AIM:EDR) , the UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK and Europe, is pleased to announce  that it has been advised by Star Energy Group Plc that the Avington Field, came into production on the 23rd January 2009 and is flowing at approximately 300 barrels of oil per day. The decision to switch to jet pump assisted lifting to increase output will be made after a suitable period of production.

The Partners in Licence PEDL 070 containing the Avington Oil Field are:

Star Energy Oil UK Ltd (Operator)	50%
Egdon Resources plc	20%
YCI Resources Ltd	16.667%
Sterling Resources UK Ltd	8.333%
Northern Petroleum GB Ltd	5%

For further information please contact:

Egdon Resources plc Mark Abbott Managing Director	01256 702292
Buchanan Communications Ben Willey, Miranda Higham	020 7466 5000
Nominated Adviser and Broker - Seymour Pierce Jonathan Wright, Sarah Jacobs, Richard Redmayne	020 7107 8000

Company Background

Egdon Resources plc is an established UK-based exploration and production company primarily focused on onshore exploration and production in the hydrocarbon-producing basins of the UK and mainland Europe.  

Egdon holds interests in twenty five licences in the UK and France and has an active programme of exploration, appraisal and development within its balanced portfolio of oil and gas assets. Egdon is an approved operator in both the UK and France.

Egdon currently has production from the Keddington and Avington oil fields. Further oil and gas production is anticipated from Kirkleatham, Waddock Cross, Eakring-Dukes Wood and Kirklington within the next twelve months.  

Egdon Resources plc listed on AIM in January 2008, following the demerger of its gas storage business, Portland Gas plc. The pre-demerged business was formed in 1997 and listed on AIM in December 2004.

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 Managing Director of Egdon Resources plc Mark Abbott, a Geoscientist with over 22 years experience.

 

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