Wressle Operational Update

Egdon Resources plc (AIM: EDR, "Egdon"), an established exploration and production company focused on the hydrocarbon-producing basins of the onshore UK, is pleased to provide an update on operations at its Wressle Oil Field Development (“Wressle”) located in North Lincolnshire, covered by Licences PEDL180 and PEDL182 and where the Company holds a 30% operated interest.Egdon is pleased to advise that the proppant squeeze operation on the Ashover Grit reservoir interval in the Wressle-1 well has been completed safely and successfully. A total of 146 cubic metres of gelled fluid with 17.3 tonnes of ceramic proppant were injected into the Ashover Grit formation in line with the authorised programme. The injection operations lasted a total of only 1 hour and 30 minutes over a two-day period.There were no health, safety, environmental or security issues experienced during the operations; and as predicted, real time monitoring confirmed there was no induced seismicity and that the noise levels were well within the permitted limits. The operation was subject to a pre-operational inspection by the Health and Safety Executive and active monitoring by the Environment Agency. Ground and surface water monitoring has continued in accordance with the requirements of the Environmental Permit.All equipment and personnel associated with the operation have now demobilised from site.The Wressle well will now be subject to a coiled tubing operation to fully clean out the production tubing prior to bringing the well back into production through the site’s permanent production facilities. Based on the implemented programme, pre-operational simulation modelling concluded that the proppant squeeze operation would result in constrained flow rates of 500 barrels of oil per day (gross). Once the well is brought back into production, we will provide a further update to report on the stabilised flow rates achieved from the proppant squeeze.Mark Abbott, Managing Director of Egdon, commented:"I am pleased to report on the safe and successful completion of the proppant squeeze operations at Wressle.  I would like to thank our team of contractors and staff for the highly professional way in which the operations were undertaken with no adverse impact on the environment or the amenity of our neighbours.I now look forward to the well being placed back on production and reporting on the positive impact of the operation on future oil production from the site in the coming weeks.”