Holding in Company

Egdon has been informed by Heyco Energy Holdings, S.L. that it has transferred its entire shareholding in the Company, consisting of 6,861,434 ordinary shares, to Heyco International Inc. This transfer makes no change in ultimate beneficial ownership. Heyco Energy Holdings, S.L. has ceased to have any holding in the Company and Heyco International Inc. now holds 6,861,434 ordinary shares in the Company which is approximately 9.1% of the issued share capital of the Company.The Net Profit Interests on current and future production from the Avington Licences which were held by Heyco Energy Holdings, S.L. have also been assigned to Heyco International Inc.