Edison Investment Research - Egdon Resources PLC (EDR) Egdon Resources - Wressle and Resolution updates

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Edison Investment Research

Egdon Resources - Wressle and Resolution updates

On 17 January 2020, Egdon announced the Planning Inspectorate has upheld the companyâ€™s appeal and granted planning consent for the development of the Wressle oil field in North Lincolnshire licences PEDL180 and PEDL182. Wressle has incurred numerous delays due to rejected planning applications; however, now Egdon will be able to begin working on the detailed planning for the development works. The company estimates it will take six months to bring Wressle onstream and Egdonâ€™s total production could be increased by c 150bopd. Today, the company also provided an update on the exclusivity agreement for the Resolution and Endeavour licences. Egdon and the its counterparty agreed on a short extension to the deadline for execution of a definitive farm-down from 19 January 2020 to 23 January 2020. More details should be provided in the coming days.

20/01/2020 2 EN

Underlying

Egdon Resources PLC

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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GB00B28YML29 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Egdon Resources - Wressle and Resolution updates

Egdon Resources - Termination of coverage

Auctus on Friday - 09/06/2023

Auctus on Friday - 19/05/2023

AGBA - A transformational deal

Biodexa Pharmaceuticals - In a period of transition

Norcros - Sale of Johnson Tiles UK agreed

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