Egdon Resources - Positive results from Springs Road core analysis
Egdon Resources and IGas Energy provided further details on the results from the Springs Road-1 core analysis. The analysis suggests that key characteristics of the Bowland Shale in the Springs Road-1 well compare to commercial shale operations in North America. The core results indicate a mature, organic content-rich source rock with good porosity confirming favourable gas resource density. The low clay content in the Lower Bowland Shale at c 22% is encouraging and an indication that hydraulic fracturing of the rock should be effective. Partners are encouraged by the results from Springs Road-1, particularly by the combined Bowland shale gas in place of 640bcf/square mile – the resource density – over three times previous external estimates. The joint venture will continue working on the basin model to better delineate the resource potential and refine the appraisal programme. Design and planning work for Springs Road-2 is now underway.Egdon Resources is an onshore U.K. focused oil and gas exploration and production business. As of Jul 31 2017, Co. had net proven plus probable oil reserves of 0.6 million barrels and net proven plus probable gas reserves of 1.18 billion cubic feet.
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