2013

The Directors of Egdon Resources plc are pleased to announce that at the Annual General Meeting held at the offices of Buchanan on 5 December 2013, all resolutions put before shareholders at the meeting were duly passed.Among the Resolutions approved by shareholders at the meeting was a Special Resolution to effect a Share Capital Reorganisation whereby the Existing Ordinary Shares of 10 pence will be subdivided into 1 New Ordinary Share of 1 penny each and 9 Deferred Shares of 1 penny each. Application has been made to admit the New Ordinary Shares to trading on AIM. Admission of the New Ordinary Shares is expected to occur at 8.00 am on Friday 6 December 2013.At the meeting, Managing Director Mark Abbott presented a review of the business. The presentation will be available and can be accessed from the Companys website.Click here for detailed voting information on the AGM resolutions

Egdon Resources plc (AIM:EDR) is pleased to announce that it has signed an Exploration Option and Farm-in Agreement (“The Agreement”) with Scottish Power Generation Limited (“SPG”) in respect of UK Onshore Production Licences PL161 (Block SE/60b) and PL162 (Blocks SE/70a and SE/80b) located in Lincolnshire.The Agreement defines an “Exploration Area” which excludes those parts of PL161 and PL162 which relate to the Hatfield Moor and Hatfield West gas storage facilities, both operated by SPG.Under the terms of The Agreement SPG has granted Egdon an Option Period of twelve months by the end of which Egdon is required to either advise SPG of its intention to commit to the drilling of an exploration well in the Exploration Area (the “Option Well”) or else terminate The Agreement.During the Option Period, Egdon will undertake, at its own cost and risk, a full evaluation of the hydrocarbon potential of the Exploration Area to include reprocessing all relevant existing 2D seismic data, evaluation of all available well data, and generation of a full review and report on the hydrocarbon prospectivity of the Exploration Area.In the event that Egdon commits to drill the Option Well, Egdon will meet the full cost of the drilling and evaluation of the well to the point of either abandonment or suspension in the case of a discovery. Egdon will earn a 50% working interest in the Exploration Area through the drilling of the Option Well and will become Operator of the Exploration Area.PL161 and PL162 are located in the East Midlands Petroleum Province, on the northern margin of the Gainsborough Trough geological basin. The licences contain the Hatfield Moor and Hatfield West gas fields which produced gas from sandstones of Carboniferous age from the 1980s. The two fields are now depleted and are operating as gas storage facilities. In addition, five exploration wells were drilled in the Exploration Area between 1973 and 1978. Egdon currently holds interests in licences to the south (PEDL139 and PEDL140) and south east (PEDL209) of the Exploration Area. The Company’s preliminary regional evaluation has indicated the potential for there to be both undiscovered conventional and unconventional oil and gas resources within the Exploration Area.Commenting on the agreement Mark Abbott, Managing Director of Egdon said:

“We are delighted to have reached agreement with SPG in relation to the option to farm-in to these two licences. The Agreement provides Egdon with an opportunity to develop our position within one of our core areas during a time when we are progressing drilling plans in the adjoining licences which should lead to a better understanding of the hydrocarbon potential of the Exploration Area.We look forward to working with SPG as we progress our detailed evaluation of the area over the coming year and we will update shareholders once we are in a position to do so.”

Egdon Resources plc (AIM:EDR) is pleased to announce that the Annual Report and Accounts for the year ended 31 July 2013 was today posted to shareholders along with a notice of the Annual General Meeting to be held at 11.30 a.m. on 5 December 2013 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.Amongst the Resolutions to be put before shareholders at the meeting is a Special Resolution to effect a Share Capital Reorganisation. Under this resolution it is proposed that the Existing Ordinary Shares of 10 pence will be subdivided into 1 New Ordinary Share of 1 penny each and 9 Deferred Shares of 1 penny each.To give effect to the Share Capital Reorganisation, the current articles of association of the Company will need to be amended to make changes to allow for the creation of the Deferred Shares arising on the Share Capital Reorganisation becoming effective. These amendments will also require shareholders approval at the General Meeting.View or Download 2013 Annual ReportView the AGM Proxy Form

View or Download Final Results Press Release

Egdon Resources plc (AIM:EDR) the UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK and France, announces that its Preliminary Results for the year ended 31 July 2013 will be announced on Wednesday 6 November 2013.An analyst meeting will be held at 9.30am on 6 November 2013 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.

Egdon Resources plc (AIM:EDR) is pleased to announce the completion of the acquisition of a 3D seismic survey to the south and east of Dorchester in the County of Dorset, onshore U.K.The survey, which covers parts of Petroleum Exploration and Production Licence PEDL237 and Production Licence PL090, was acquired by Tesla Exploration International Ltd. and comprised the acquisition of a total of 2,631 vibroseis source points covering an area of approximately 68.5 square kilometres.The survey was designed to provide detailed structural data over a number of leads and prospects at various reservoir levels including the Sherwood Sandstone, the primary reservoir at the nearby Wytch Farm oilfield. The main focus of the survey was over the area of the Casterbridge and Broadmayne structures where, based on previous 2D seismic data, Egdon evaluated combined gross Best Estimate Prospective Resources of around 50 million barrels of oil.The acquired data will now be processed by a specialist contractor to generate a 3D image of the geological structure of the area to enable the licence group to identify locations for possible future exploration drilling.The Licence Interests in PL090 (excluding Waddock Cross) and PEDL237 are;Egdon Resources U.K. Limited (Operator)38.7500%First Oil Expro Limited22.6042%Aurora Exploration Limited16.1458%Corfe Energy Limited12.5000%Dorset Exploration Limited (wholly owned by Egdon)10.0000%Commenting on the survey Jerry Field, Exploration Director of Egdon said:

“I would like to thank all the personnel of Tesla Exploration for their professionalism and commitment in undertaking the survey in an efficient, safe and considerate manner.We look forward to receipt of the final processed data volume early in 2014 which will enable us to develop our future exploration plans on this highly prospective oil trend to the west of Wytch Farm, Western Europe’s largest onshore oilfield.After a period of limited activity by Egdon in Dorset, the recently announced commencement of production at Waddock Cross and this seismic survey illustrate our commitment to exploring the Wessex Basin, an area which has the potential to drive near-term shareholder value.”

Egdon Resources plc (AIM:EDR) is pleased to announce the commencement of production from the Waddock Cross oil field in UK Onshore Production Licence PL090, located in Dorset around 10 kilometres to the east of Dorchester.Waddock Cross is mapped by Egdon as containing mean in-place volumes of over 30 million barrels of oil in the Lower Jurassic Bridport Sandstone reservoir. Initial production will be from the Waddock Cross-2 well which has had larger production tubing and a higher capacity pump installed and is expected to produce at gross rates of around 30 barrels of oil per day. The plan for the first phase of the development thereafter is to restore production from the Waddock Cross-3 horizontal well and to drill two further horizontal producer wells by 2015. Egdon estimate gross Proven and Probable Reserves for the field for this initial phase to be about 300,000 barrels of oil.The interests in the Waddock Cross oil field are:Egdon Resources U.K. Limited45.00% (Operator)First Oil Expro Limited26.25%Aurora Exploration (UK) Limited18.75%Dorset Exploration Limited (wholly owned by Egdon)10.00%Commenting on the start of production Mark Abbott, Managing Director of Egdon said:

“We are pleased to have completed site works and to have obtained the required consents within our expected timeline and we now look forward to increasing ongoing production and revenues as we continue to progress the phased development of the Waddock Cross oil field over the coming years.”

Egdon Resources plc (AIM:EDR) is pleased to announce that it has been notified by Leicestershire County Council that Planning Consent has been granted for the drilling of an exploratory borehole on the Burton on the Wolds Prospect in UK Onshore Petroleum Exploration and Production Licence PEDL201, located on the southern margin of the Widmerpool Gulf geological basin.The Burton on the Wolds Prospect has been mapped on proprietary 2D seismic data which was acquired by Egdon in May 2011. Evaluation has highlighted a conventional oil prospect with targets at two distinct Carboniferous stratigraphic levels. The shallower target, the Rempstone Sandstone, is productive at the nearby Rempstone oil field. A seismic anomaly, possibly indicative of a carbonate reef, underlies the Rempstone Sandstone and provides a deeper secondary target. The mean combined Prospective Resources for the two target objectives, as calculated by Egdon are estimated to be 3.8 million barrels of oil.The planned vertical well will be relatively shallow with a drilled depth of around 1000 metres. It has been designed to intersect both targets in a structurally favourable position near the crest of the Burton on the Wolds structure.The interests in Licence PEDL201 are:Egdon Resources U.K. Limited32.50% (operator)Celtique Energie Petroleum Limited32.50%Terrain Energy Limited12.50%Corfe Energy Limited12.50%Union Jack Oil plc10.00%As a result of a series of farm-outs announced on 20 February 2012 and 19 February 2013, Egdon’s net share of the cost of the Burton on the Wolds-1 well will be 15%.Commenting on the approval Mark Abbott, Managing Director of Egdon said:

“We are pleased that Leicestershire County Council has approved our application for the drilling of the Burton on the Wolds-1 exploration well and we can now look forward to the commencement of drilling operations later in 2013. The prospect combines a lower risk reservoir target offsetting nearby production with a higher risk, higher potential play which is at present untested in the basin.”

Egdon Resources plc (AIM:EDR) notes the release made today by Europa Oil and Gas (Holdings) plc (“Europa”) announcing the successful result of a High Court challenge in relation to the drilling of an exploratory well at the Holmwood prospect ("Holmwood") in Weald Basin licence PEDL143 located in Surrey, where the Company holds a 38.4% interest.Egdon regards this judgement as a positive outcome and will now consider the next steps forward regarding PEDL143 with the joint venture partners, Europa (operator, 40%), Warwick Energy (20%) and Altwood Petroleum (1.6%). This judgment means that the Inspector’s decision is quashed and the appeal will be remitted to the Planning Inspectorate for redetermination, which may involve a further planning Inquiry, for the exploratory drill site at Holmwood.As announced by Europa on 1 November 2012, the PEDL143 joint venture partners applied for an order to quash the decision of the Secretary of State for Communities and Local Government’s appointed Inspector to dismiss their appeal against Surrey County Council’s refusal to grant planning permission to drill one exploratory borehole and undertake a short term test for hydrocarbons at the Holmwood prospect drill-site.The judge, Mr Justice Ouseley, gave judgement in favour of quashing the Inspector’s decision at 3pm on 25 July 2013 in the Royal Courts of Justice. The judge granted the Leith Hill Action Group leave to appeal, to the Court of Appeal, against his judgment.

Egdon Resources plc (AIM:EDR) notes the announcement made today by Union Jack Oil plc (“Union Jack”) regarding the posting of its AIM Admission Document to shareholders.In today’s announcement Union Jack state with respect to various agreements with Egdon which were previously announced on 5 March and 14 May 2013:

• The Union Jack Board does not intend to exercise its option to acquire an interest in Wessex Basin Licences PL090 and PEDL237. This option will expire on 31st July 2013 under the terms of the Sales & Purchase Agreement with Dorset Exploration Limited (“Dorset”), the 100% owned subsidiary of Egdon. The £20,000 deposit paid by Union Jack under the terms of the Agreement will be retained by Dorset.
• The Union Jack Board does not intend to exercise options to acquire from Egdon an additional 5% interest in East Midlands Licence PEDL241 (North Kelsey) or a 10% interest in East Midlands Licence PEDL005R (North Somercotes). These options will expire on 31st July 2013 under the terms of the Letter of Intent Agreement between Egdon and Union Jack.
• Egdon and Union Jack have entered into new Agreements providing Union Jack with the option to withdraw from its obligations under Farm-out Agreements for East Midlands Licences PEDL241 (North Kelsey) and PEDL253 (Biscathorpe). If Union Jack elects to exercise the withdrawal option(s), it will pay a fee of £5,000 for each (£5,000 and £3,000 respectively net to Egdon) and its interest in the respective Licence(s) will be terminated.Commenting on Union Jack’s announcement, Mark Abbott, Managing Director of Egdon said:“It is obviously disappointing to Egdon that Union Jack is not in a position at this time to exercise the options with respect to either the purchase of interests in the Wessex Basin or certain farm-outs in the East Midlands. However, Egdon will now retain a 55% interest in the Waddock Cross oil field where planning consent has recently been received and we look forward to updating shareholders of commencement of production and revenues from the field in the next few months.”

Egdon Resources plc (AIM:EDR) is pleased to announce that Lincolnshire County Council has granted Planning Consent for the drilling of an exploratory borehole on the Laughton Prospect in UK Onshore Petroleum Exploration and Production Licence PEDL209, located between the towns of Gainsborough and Scunthorpe in the East Midlands Petroleum Province.The Laughton-1 well will target a structural trap defined on 2D seismic data. The prospect has multiple conventional Carboniferous sandstone reservoir targets with the primary objective being the Silkstone Rock, an approximately 15 metres thick sandstone interval which is productive in the Corringham oil field 5 kilometres to the South East. Egdon currently estimate gross Best Estimate Prospective Resources of around 1 million barrels of oil for the Silkstone Rock in the Laughton Prospect.Under the terms of a Farm-in Agreement Egdon will earn a 60% interest in the Licence in return for paying 100% of the cost of the Laughton-1 exploration well which is estimated at around £1.3 million. Egdon expects to drill the well during 2014 as part of a planned East Midlands exploration drilling programme which, subject to planning, could include wells on the North Kelsey and Biscathorpe prospects.The Licence Interests in PEDL209 at completion of the farm-in will be;Egdon Resources U.K. Limited (Operator)60%Blackland Park Exploration Limited28%Stelinmatvic Industries Limited12%Commenting on the approval Mark Abbott, Managing Director of Egdon said:

“We are pleased that Lincolnshire County Council has approved the application for the drilling of the Laughton-1 exploration well and we will now work to satisfy the various planning and permitting conditions to be in a position to drill this well during 2014.”

Egdon Resources plc (AIM:EDR) note the recent publication of a number of government initiatives and reports in relation to shale gas and the wider onshore UK oil and gas industry.Commenting on the implications of these for Egdon, Mark Abbott, Managing Director of Egdon said;

"The release by the Department of Energy and Climate Change of the British Geological Survey ("BGS") report (https://www.gov.uk/government/publications/bowland-shale-gas-study) on estimated gas in place in the Bowland-Hodder unit of Central England has confirmed the significant potential of this play. Of particular relevance to Egdon, the report includes estimates of gas in place for the lower Bowland-Hodder unit ("Lower Bowland") which, although carrying higher uncertainty due to the current limited number of well penetrations, is evaluated as having potential gas in place volumes of around four times those estimated for the upper Bowland-Hodder unit ("Upper Bowland").Egdon have long recognised that the Lower Bowland sequence in the Gainsborough Trough could be in excess of 1500 metres in thickness and the BGS report shows most of Egdons licences, PEDL139, PEDL140 and PEDL209, as being located within the area of gas mature Lower Bowland. This highlights the possibility of further significant gas in place in the licences in addition to that already evaluated by RPS Energy for the approximately 125 metre thick Upper Bowland sequence (see Note 1). Whilst it is premature to assign resources to the Lower Bowland in these licences the planned exploration well in PEDL139/140 will gather information from the Lower Bowland sequence to enable its potential to be more fully defined. The BGS report also highlights additional shale gas potential in certain parts of Egdons PEDL201 and PEDL130 licences. We are highly encouraged by the content of the report and continue to undertake our own detailed evaluation of the shale gas potential of these and other licences and of the potential for shale oil elsewhere in our existing portfolio with the expectation of upgrading our resource estimates in due course.As an active member, Egdon welcome and endorse the publication by the UK Onshore Operators Group ("UKOOG", http://www.ukoog.org.uk/) of a binding industry charter for members covering the minimum required standards of engagement with local communities alongside a community benefits scheme designed for the next phase of shale oil and shale gas exploration and production.The Company is encouraged by the Governments commitment to publish in July 2013 a package of measures designed to "kick-start" the shale gas industry in the UK. The publication by the Department for Communities and Local Government of planning guidance for onshore oil and gas (including shale gas) should provide a clear framework for how such developments should proceed through the planning system. We also look forward to the outcome of the consultation on a "pad allowance" in relation to taxation for shale gas which should provide clarity on the fiscal regime and we welcome the commitment of the Environment Agency to streamline and simplify environmental regulation of onshore oil and gas activities."

Note 1 - RPS Energy ("RPS") evaluated the potential shale gas resources in Egdons licences PEDL139 and PEDL140 (the "Licences") which are located in Lincolnshire and where the Company holds 13.5% interests.The Licences are located in the Gainsborough Trough geological basin and contain a 125 metre thick sequence of Carboniferous age Pendleian Shale at a depth of over 2000 metres. The Pendleian Shale is the approximate age equivalent of the upper Bowland-Hodder unit as defined in the recent BGS report. RPS estimated the mean net Egdon total gas in place ("GIIP") as 1.76 trillion cubic feet of gas ("tcf") within the Licences. A review of the surface and sub-surface access constraints in the area has resulted in an estimated mean net Egdon Accessible GIIP of 1.22 tcf. The net Egdon mean Prospective Resources are estimated as 0.19 tcf based on recovery rates in analogous US plays. Please use the following link for the full press release in relation to this assessment:PEDL139_and_140_Shale-Gas_Resources_Assessment

Egdon Resources plc (AIM:EDR) is pleased to announce that Dorset County Council has granted planning permission for the development of the Waddock Cross oil field in onshore Production Licence PL090, located around 10 kilometres to the east of the town of Dorchester.The detailed planning consent allows for the retention of the existing site for a period of ten years for oil production from the two existing wells, and the drilling of a sidetrack and two new boreholes for further appraisal of the field and production of oil.An Environmental Permit has also been granted for the site by the Environment Agency.Subject to satisfaction of the planning conditions and approval of the Field Development Plan by the Department of Energy and Climate Change, it is anticipated that production will commence during the third quarter of 2013 at initial gross rates of around 30-40 barrels of oil per day. Waddock Cross is mapped by Egdon as containing mean in-place volumes of over 30 million barrels of oil in the Lower Jurassic age Bridport Sandstone. The plan for the first phase of the development is to drill two further horizontal producer wells by 2015. Egdon estimate gross Proven and Probable Reserves for the field for this initial phase to be about 300,000 barrels of oil.The interests in the Waddock Cross oil field are currently:Egdon Resources U.K. Limited45.00% (Operator)First Oil Expro Limited26.25%Aurora Exploration Limited18.75%Dorset Exploration Limited10.00%Union Jack plc holds an option to purchase the 10% interest in PL090 (including Waddock Cross) and the neighbouring licence PEDL237 currently held by Dorset Exploration Limited (a wholly owned subsidiary of Egdon) for a cash consideration of £560,000. This option is exercisable until 31 July 2013.Commenting on the approval Mark Abbott, Managing Director of Egdon said:

“We are delighted by the award of planning consent, which is a key step in progressing to the first commercial production from our Dorset licences and a new source of revenue for Egdon. We look forward to advising shareholders of first oil from the field which is expected before the end of September.”

Egdon Resources plc (AIM:EDR) is pleased to announce that it has been notified by North Lincolnshire Council that Planning Consent has been granted for the drilling of an exploratory borehole on the Wressle Prospect in UK Onshore Petroleum Exploration and Production Licence PEDL180, located to the east of Scunthorpe.The Wressle Prospect is defined on proprietary 3D seismic data, which was acquired by Egdon in February 2012. The Prospect is located on trend with the producing Crosby Warren oil field and the Broughton-B1 oil discovery, both to the immediate northwest, and the Brigg-1 oil discovery to the immediate southeast. These contain oil in multiple Upper Carboniferous sandstone reservoirs. The gross most likely Prospective Resources(Note 1) at Wressle, as calculated by Egdon, are estimated to be 2.1 million barrels of oil.The planned well will be drilled as a deviated well to a total depth of about 2300 metres (ca. 1850 metres TVDSS (Note 2)) with a maximum offset of approximately 1250 metres. It has been designed to intersect all of the prospective sandstone reservoirs in a structurally favourable position near the crest of the Wressle structure.The interests in the Wressle-1 well are:Egdon Resources U.K. Limited25.00% (Operator)Celtique Energie Petroleum Limited33.33%Europa Oil & Gas Limited33.34%Union Jack Oil plc8.33%Under the terms of a Farm-Out Agreement, as previously announced, Union Jack Oil plc will pay an additional 8.33% out of Egdon’s share of the cost of the well so reducing Egdon’s net share of the cost to 16.67%.Commenting on the approval Mark Abbott, Managing Director of Egdon said:

“We are pleased that North Lincolnshire Council has approved our application for the drilling of the Wressle-1 exploration well and we can now look forward to the commencement of drilling operations later in 2013.”

(Note 1) Prospective Resources are those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from undiscovered accumulations.(Note 2) TVDSS means True Vertical Depth Sub-Sea which is the vertical depth measured relative to a datum of mean sea level.

Egdon Resources plc (AIM:EDR) is pleased to announce that it has agreed terms with Blackland Park Exploration Limited (“Blackland Park”) and Stelinmatvic Industries Limited (“Stelinmatvic”) for a farm-in to UK Onshore Petroleum Exploration and Development Licence PEDL209 (“the Licence”) located in Lincolnshire. Under the terms of the Farm-in Agreement Egdon will earn a 60% interest in the Licence in return for paying 100% of the cost of the planned Laughton-1 exploration well to the point of completion of the well for testing or, in the case that the well is a dry hole, abandonment and restoration of the site. Egdon will also assume operatorship of PEDL209.The Licence Interests in PEDL209 at completion will be;Egdon Resources U.K. Limited (Operator)60%Blackland Park Exploration Limited28%Stelinmatvic Industries Limited12%The transfer of interests and operatorship is subject to approval by the Department of Energy and Climate Change.PEDL209 covers a total area of 64 square kilometres and adjoins Egdon’s existing Licences PEDL139 and PEDL140 in the eastern part of the Gainsborough Trough geological basin of the East Midlands Petroleum Province.The Laughton Prospect is a structural trap defined on 2D seismic data. The prospect has multiple conventional Carboniferous sandstone reservoir targets with the primary objective being the Silkstone Rock, an approximately 15 metres thick sandstone interval which is productive in the Corringham oil field 5 kilometres to the South East. Egdon currently estimate gross Mean Prospective Resources of around 1 million barrels of oil for the Silkstone Rock in the Laughton Prospect. A planning application for the exploration well is currently under consideration by Lincolnshire County Council. The estimated well cost is around £1.3 million and, subject to planning consent, Egdon expects to drill the well during the first half of 2014.A number of additional oil and gas prospects similar to the Laughton structure have also been identified within the Licence’s area.Egdon also recognises that there is potential for significant shale-gas resources to be present within parts of the Licence. The Company’s current evaluation indicates that the Pendleian Shale shale-gas play extends over about 45 square kilometres of PEDL209. Using similar parameters to those defined by RPS Energy in their independent evaluation of the prospective shale-gas resources in PEDL139 and PEDL140, Egdon estimates that the total in-place volume of gas within the Pendleian Shale interval in PEDL209 could alone amount to over 3 Trillion cubic feet. Further, as with PEDL139 and PEDL140, PEDL209 is interpreted as holding additional shale-gas potential in the thick Lower Carboniferous sequence which underlies the Pendleian Shale but which remains to be tested by drilling in the region. Neither of these sequences will be penetrated in the planned Laughton-1 well.Commenting on the transaction Mark Abbott, Managing Director of Egdon said:

“We are pleased to have concluded this farm-in in one of our core business areas. The initial focus will be the drilling of the Laughton-1 exploration well, which will target a conventional prospect with gross Best Estimate Prospective Resources in the primary reservoir target of around 1 million barrels of oil close to existing production.Importantly the farm-in also delivers on our stated strategy of providing Egdon with increased exposure to shale-gas potential in an area identified by Egdon as containing an extension of the “sweet spot” of the Pendleian Shale play identified in our adjoining Gainsborough Trough licences PEDL139 and PEDL140.Subject to planning, we expect to drill the Laughton-1 well as part of our planned 2014 drilling programme.”

Egdon Resources plc (AIM:EDR) is pleased to announce that it has reached agreement on terms for the sale of a 10% interest in Licences PL090 and PEDL237 located in Dorset, to Union Jack Oil plc (“Union Jack”).Under the terms of a Sale and Purchase Agreement (the “Agreement”) Egdon’s 100% subsidiary Dorset Exploration Limited has granted Union Jack an option (exercisable up to 31 July 2013) to acquire the licence interests for a cash consideration of £560,000, payable on completion. A £20,000 non-refundable deposit has been paid under the terms of the Agreement. This deposit will form part of the consideration should the option be exercised.The transfer of interests will be subject to approval by the Department of Energy and Climate Change.Assuming the option is exercised and the recently announced transactions with Corfe Energy Limited have been completed, the resultant Licence Interests in PL090 (excluding Waddock Cross) and PEDL237 will be;Egdon Resources U.K. Limited (Operator)38.7500%First Oil Expro Limited22.6042%Aurora Exploration Limited16.1458%Corfe Energy Limited12.5000%Union Jack plc10.0000%The Licence Interests at completion, in the Waddock Cross field development area of PL090 will be;Egdon Resources U.K. Limited (Operator)45.00%First Oil Expro Limited26.25%Aurora Exploration Limited18.75%Union Jack plc10.00%PL090 and PEDL237 are located in the Wessex Basin, a geological basin with existing oil production at Wytch Farm, Wareham and Kimmeridge.Planning permission for the Waddock Cross field development in PL090 is expected soon and Egdon anticipates that production will commence during the third quarter of 2013 at gross rates of around 30-40 barrels of oil per day. Waddock Cross is mapped as having mean oil in place of over 30 million barrels. The plan for the first phase of the development is to drill two further horizontal producer wells by 2015. Egdon estimate gross Proven and Probable Reserves for the field for this initial phase at around 300,000 barrels of oil.Elsewhere in the licences Egdon has identified a number of leads and prospects at various reservoir levels including the Sherwood Sandstone, the primary reservoir at the Wytch Farm oilfield. Two prospective structures at Casterbridge and Broadmayne are identified where Egdon evaluate combined gross Best Estimate Prospective Resources of around 50 million barrels of oil. A 3D seismic programme is planned to evaluate these structures later in 2013 and should enable the licence group to identify the best location for a future exploration well, currently anticipated for 2014.Commenting on the transaction Mark Abbott, Managing Director of Egdon said:

“This transaction would realise cash for the wider business whilst maintaining a material interest for Egdon in the Waddock Cross field development and the high potential Wessex Basin exploration prospects. We can look forward to first oil from the Waddock Cross oil field development in the third quarter of 2013 and the commencement of 3D seismic acquisition later in 2013 which should enable us to identify the best location for a possible exploration well on the high impact prospects of Casterbridge and Broadmayne.After a period of limited activity in these licences the planned increase in activity means that our Wessex Basin assets now have the potential significantly to drive near-term shareholder value.”

Egdon Resources plc (AIM:EDR) is pleased to announce the farm-out of an interest in Petroleum Exploration and Development Licence 180 (“PEDL180”), located in Lincolnshire, to Union Jack Oil plc (“Union Jack”). The farm-out is a further example of delivering on the Company’s strategy of farming out assets to manage risk and accelerate activity.Under the terms of the agreement, Union Jack will pay 16.66% of the cost of the planned Wressle-1 exploration well to earn an 8.33% interest in PEDL180. If the well is successful and proves the existence of an economically developable hydrocarbon accumulation, Union Jack will also earn an 8.33% interest in the part of the field which is determined to extend into the adjoining Licence PEDL182. As a result of this farm-out, Egdon’s exposure to the Wressle-1 well cost is reduced to 16.67%.On completion, the licence interests in PEDL180 will be as follows:Egdon Resources U.K. Limited25.00% (Operator)Celtique Energie Petroleum Limited33.33%Europa Oil & Gas Limited33.34%Union Jack Oil plc8.33%The transfer of interests is subject to approval by the Department of Energy and Climate Change.PEDL180 was awarded in 2008 and is located on the western margin of the Humber Basin. The Wressle Prospect was originally identified and mapped using vintage 2D seismic data but has now been defined on proprietary 3D seismic data, which was acquired by Egdon in February 2012. The Prospect is located on trend with the producing Crosby Warren oil field and the Broughton-B1 oil discovery, both to the immediate northwest, and the Brigg-1 oil discovery to the immediate southeast. All contain oil in various different sandstone reservoirs within the Upper Carboniferous succession. The gross mean Prospective Resources at Wressle, as calculated by Egdon, are estimated to be 2.1 million barrels of oil.The planned well will be drilled as a deviated well to a total depth of about 2300 metres (ca. 1850 metres TVDSS) and a maximum offset of approximately 1250 metres. It has been designed to intersect all of the prospective sandstone reservoirs in a structurally favourable position near the crest of the Wressle structure. A surface location for the well site has been identified and a lease agreed with the landowner. A planning application was submitted in March 2013 and subject to receiving planning consent, it is intended that the Wressle-1 well will commence operations in the third quarter of 2013 as part of a programme of drilling, which will include the Burton on the Wolds-1 exploration well in Licence PEDL201.Commenting on the farm-out Mark Abbott, Managing Director of Egdon said:

“We are pleased to welcome Union Jack into PEDL180 and the drilling of the Wressle Prospect. The prospect is well defined on new 3D seismic data and has the right “address”, being located between existing oil fields and discoveries. This farm-out is a further example of delivering on our strategy of managing both the technical and financial risks within our overall drilling portfolio. We now look forward to commencement of drilling operations in the East Midlands in the third quarter of 2013.”

View or Download Interim Results Press ReleaseView or Download Interim Results - Presentation

Egdon Resources plc (AIM:EDR), the UK-based onshore exploration and production company primarily focused on the hydrocarbon-producing basins of the UK and Europe, announces that its Interim Results for the six months ended 31 January 2013 will be announced on Monday 29 April 2013.An analyst meeting will be held at 9.30am on Monday 29 April 2013 at the offices of Buchanan; 107 Cheapside, London, EC2V 6DN.

Egdon Resources plc (AIM:EDR) is pleased to announce the award by the Department of Energy & Climate Change of a licence covering offshore blocks 41/18 and 41/19 located adjacent to the North Yorkshire coast. The licence, awarded as a result of 26th UK Seaward Licensing Round, will be a Traditional Licence with Egdon Resources U.K. Limited holding 100% interest and Operatorship.Only one well has previously been drilled in the licence area. The 41/18-1 (A339/1-2) well was drilled by Total in 1966 and was one of the earliest wells to discover hydrocarbons in the North Sea. Following acidisation, the well tested gas at rates of up to 2.5 million cubic feet of gas per day from fractured Upper Permian “Hauptdolomit” carbonates. Egdon’s preliminary evaluation indicates the potential for the drilled structure to contain substantial Prospective Resources in the range of 40 to 272 billion cubic feet of gas (“bcf”), with a mid-case of 150 bcf.Egdon intends to re-evaluate this gas discovery through a work programme which will include the acquisition, reprocessing and interpretation of existing 2D seismic data over the blocks together with detailed analysis of the previous well results and regional geological evaluation. Contingent upon confirmation of the size of the prospect and the potential resource, Egdon intends to seek consent to drill a well from an onshore location to appraise the discovery made by the original 1966 well.Commenting on the licence award Mark Abbott, Managing Director of Egdon said:

“We are delighted to have been awarded this 26th Round licence over these high potential blocks in one of our focus areas. We believe that our proposed approach of appraising and potentially developing this prospect via an onshore to offshore well could unlock the value in one of the earliest North Sea gas discoveries and we look forward to commencing our detailed technical evaluation.”

Egdon Resources plc (AIM:EDR) is pleased to announce that it has reached agreement for the sale of a 12.5% interest in Wessex Basin Licences PL090 and PEDL237 to Corfe Energy Limited (“Corfe”) for a cash consideration of £500,000. The Waddock Cross field development area in PL090 is excluded from the transaction.In addition, under the terms of an Earn-In Agreement, Egdon will be able to earn back a 6.25% interest in both Licences through paying the costs attributable to such interest as well as the costs attributable to the 6.25% interest acquired by Corfe from Egdon up to a combined maximum of £500,000. The net financial effect of the transaction to Egdon is as if it had benefitted from a “two for one” promote on the relevant proportion of the gross £4 million work programme planned on the Licences.The parties have agreed to acquire a programme of 3D seismic over the Casterbridge prospect, the Broadmayne prospect and other prospective structures which is expected to commence during the fourth quarter of 2013. Following completion of the seismic programme and prior to the drilling of an exploration well on either of the Licences, Egdon is entitled to opt out of the Earn-In obligation but under these circumstances will re-assign its 6.25% Earn-in interest to Corfe.Corfe has also reached agreement on the same terms with First Oil Expro Limited and Aurora Exploration (UK) Limited and on completion of the Earn-In the Licence Interests in PL090 and PEDL237 will be as follows:Egdon (Operator)38.7500%First Oil Expro Limited22.6042%Aurora Exploration (UK) Limited16.1458%Corfe Energy Limited12.5000%Dorset Exploration Limited(1)10.0000%The transfer of interests is subject to approval by the Department of Energy and Climate Change.The PL090 and PEDL237 licencees have also agreed an Area of Mutual Interest in respect of the existing licence areas and certain adjacent areas.Commenting on the transaction Mark Abbott, Managing Director of Egdon said:

“The transaction with Corfe is a further example of delivery of Egdon’s “farm-out” strategy to reduce financial exposure and accelerate activity on key exploration projects and provides the impetus for the acquisition of a 3D seismic programme over the main prospective trend later in 2013. The intention is to firm-up a drilling location to test a high potential Sherwood Sandstone Prospect in 2014. We have identified two prospective structures at Casterbridge and Broadmayne where Egdon evaluate combined gross Best Estimate Prospective Resources of around 50 million barrels of oil. The planned 3D seismic programme should enable us to identify the best location for a future exploration well.Elsewhere in the area the Waddock Cross planning decision is now expected during April with a planned production start-up around mid-year, dependent upon a positive decision on planning.”

(1) Dorset Exploration Limited is a wholly owned subsidiary of Egdon Resources plc

Egdon Resources plc (AIM:EDR) notes the release made today by Europa Oil and Gas (Holdings) plc ("Europa") advising commencement of 2D seismic acquisition in UK Onshore Licence PEDL 181 in which Egdon holds a 25% interest.PEDL 181 covers an area of 540 square kilometres in East Lincolnshire, a region with a proven hydrocarbon system. Several leads have been identified on PEDL 181 following a recent technical evaluation. Four leads in the southern part of the licence are to be the focus of the current work which will comprise the acquisition of 78 line kilometres of 2D seismic data and the reprocessing of 150 square kilometres of existing 3D seismic data over a mapped structural high trend, the Caistor anticline.Egdon looks forward to receiving the results of the 2D seismic acquisition programme together with the reprocessed 3D dataset and using them to further define the prospectivity of the PEDL 181 licence and determine the future work programme.Licence partners in PEDL 181 are:Europa Oil & Gas Limited (Operator)50%Egdon Resources U.K. Limited25%Celtique Energie Petroleum Ltd.25%

Egdon Resources plc (AIM:EDR) is pleased to announce that it has reached agreement in respect of farm-outs in Petroleum Exploration and Development Licences ("PEDLs") PEDL253 and PEDL241 to Union Jack Oil plc ("Union Jack"). Additionally, Egdon and Union Jack have signed a Letter of Intent whereby Union Jack has been granted an option to acquire a 10% interest in the North Somercotes Prospect in PEDL005R and a further 5% interest in PEDL241 from Egdon.The transfer of interests is subject to approval by the Department of Energy and Climate Change.Farm-out of PEDL253PEDL253 is located in Lincolnshire to the West of the Saltfleetby gasfield and Keddington oilfield and contains the Biscathorpe Prospect.Under the terms of the farm-out, Union Jack will earn a 6% interest from Egdon in PEDL253 in return for paying 12% of the cost of the planned Biscathorpe-2 exploration well.The Biscathorpe Prospect is a four-way dip closed structure over a basal Dinantian carbonate high. The Biscathorpe structure was initially drilled by BP in 1987 with the Biscathorpe-1 well encountering a thin, oil-filled sandstone on the crest of the structure. The prospect is defined by 3D seismic data which has been reprocessed by Egdon and along with regional well data and nearby analogues indicates the potential for thickening of the sandstones off the high to the north and northeast. In addition, potential exists for stratigraphic trapping of the reservoir to the west of the structural closure. The mean Prospective Resource for the main reservoir objective, as calculated by Egdon is estimated to be 17.81 million barrels of oil.The subsurface target location to test the Biscathorpe Prospect has been defined, a surface location has been identified and terms agreed for a well site from which a vertical well can be drilled to test the primary reservoir objective. Drilling operations are planned to commence in late Q4 2013 or early Q1 2014 subject to receipt of planning and other consents.Union Jack has also agreed terms with Montrose Energy Limited to earn a further 4% interest in return for paying 8% of the well cost.On completion the interests in PEDL253 will be as follows:Egdon Resources U.K. Limited54% (operator)Montrose Energy Limited36%Union Jack Oil plc10%Farm-out of PEDL241 and OptionPEDL241 is located in Lincolnshire and contains the North Kelsey Prospect, a tilted fault block closure, defined on 3D seismic.Under the terms of the farm-out agreement Union Jack will pay 20% of the cost of the North Kelsey well to earn a 10% interest in PEDL241 from Egdon.The North Kelsey Prospect is near to the Crosby Warren oilfield and oil discoveries at Broughton and Brigg. The subsurface location to test the prospect has been identified, a surface drilling location has been identified and terms agreed. Drilling operations are planned for late Q4 2013 or Q1 2014 subject to receipt of planning and other consents.There is potential for up to four stacked reservoir intervals on the North Kelsey Prospect, namely the Chatsworth, Beacon Hill, Ravensthorpe and Santon sandstones. The mean combined Prospective Resources for these multiple objectives, as calculated by Egdon are estimated to be 6.7 million barrels of oil.On completion the licence interests in PEDL241 will be as follows:Egdon Resources U.K. Limited40% (operator)Celtique Energie Petroleum Limited50%Union Jack Oil plc10%In addition, a Letter of Intent between Egdon and Union Jack grants Union Jack an option to enter into a second Farm-In agreement for a further 5% participating Interest in PEDL241 under the same terms as above. The Letter of Intent will terminate on 31 July 2013 should the option not be exercised.North Somercotes Prospect OptionThe Letter of Intent also grants Union Jack the option to acquire a 10% Participating Interest in PEDL005R, limited to the part block which contains the North Somercotes Prospect, in return for paying 20% of the well cost. The Letter of Intent will terminate on 31 July 2013 should the option not be exercised.Located in the onshore South Humber Basin, approximately 5 kilometres north of the Saltfleetby gasfield, the North Somercotes Prospect is a gas prospect on a proven productive fairway, with a tilted fault-block closure defined on 3D seismic data. The mean Prospective Resources at the main objective, as calculated by Egdon are estimated to be 9 billion cubic feet of gas.A surface location has been identified and a planning application is in preparation. It is intended to drill a well on the North Somercotes Prospect, subject to necessary consents, during 2014 or 2015.Commenting on the farm-out Mark Abbott, Managing Director of Egdon said:

"We have a number of drill-ready 3D defined prospects in the East Midlands with the potential to add significant shareholder value. These farm-outs show further progress with our strategy designed to manage risk and accelerate activity on our planned near-term drilling programme with a view to realising this value. We are continuing to progress towards an active 2013 and 2014 drilling programme and we continue to discuss further transactions with a number of parties and hope to be able to provide further updates to shareholders in due course."

Egdon Resources plc (AIM:EDR) announces that as part of its annual salary and incentive review it has granted options to the following Directors under the terms of the Companys Enterprise Management Investment Option Scheme.DirectorNumber of Options grantedExercise Price (pence)Vesting DateExercisable UntilMark Abbott600,000101 January 201431 March 2022Jerry Field600,000101 January 201431 March 2022Following the grant of the options, which were effective at 1 January 2013, the interests of the Directors in the share capital of the Company are as follows:DirectorTotal number of Options held over Ordinary SharesNumber of Ordinary Shares heldMark Abbott1,218,4297,563,824Jerry Field1,388,6000

Egdon Resources plc (AIM:EDR) announces that Cantor Fitzgerald Europe has been appointed as the Companys Nominated Adviser and Broker with immediate effect.This follows the acquisition of certain assets and businesses of Seymour Pierce Limited by Cantor Fitzgerald Europe. For further information see the AIM Notice dated 8 February 2013.

Egdon Resources plc (AIM:EDR) is pleased to announce the farm-out of a further 5% interest in Petroleum Exploration and Development Licence 201 (“PEDL201”) located in Nottinghamshire and Leicestershire to Union Jack Oil plc (“Union Jack”).Under the terms of the agreement, Union Jack will pay 10% of the cost of the planned Burton on the Wolds-1 exploration well to earn a 5% interest from Egdon. As a result Egdon’s exposure to the well is reduced to 15% of costs. Union Jack has also agreed the same terms with Celtique Energie Petroleum Ltd (“Celtique”) to result in a 10% total licence interest.On completion the licence interests in PEDL201 will be as follows:Egdon Resources U.K. Limited32.50% (operator)Celtique Energie Petroleum Limited32.50%Terrain Energy Limited12.50%Corfe Energy Limited12.50%Union Jack Oil plc10.00%The transfer of interests is subject to approval by the Department of Energy and Climate Change.PEDL201 was awarded in 2008 and is located on the southern margin of the Widmerpool Gulf geological basin. The Burton on the Wolds Prospect has been mapped on proprietary 2D seismic data, which was acquired by Egdon in May 2011. Evaluation has highlighted a prospect with targets at two distinct stratigraphic levels. The shallower target, the Rempstone Sandstone, is productive at the nearby Rempstone oil field. A seismic anomaly, possibly indicative of a carbonate reef, underlies the Rempstone Sandstone. The mean combined Prospective Resources for the primary and secondary objectives, as calculated by Egdon are estimated to be 3.8 million barrels of oil.The planned well will be shallow with a drilled depth of around 1000 metres to test both targets. A planning application has been finalised and is expected to be submitted shortly. Subject to planning it is intended that the Burton on the Wolds-1 well will commence drilling late in the second quarter of 2013.Commenting on the farm-out Mark Abbott, Managing Director of Egdon said:

“We look forward to working with Union Jack in exploring the Burton on the Wolds Prospect. The prospect combines a lower risk reservoir target offsetting nearby production with a higher risk, higher potential play at present untested in the basin. This further farm-out agreement enables Egdon to manage both the technical and financial risks associated with this project.As part of our stated strategy to manage risk and accelerate activity, we have embarked on a more active marketing campaign and I am pleased to report that we are in advanced discussions regarding further farm-outs on a number of our projects. I hope to be able to report further progress with these in the coming weeks.”

The Company has been informed that Mark Abbott, Managing Director, today purchased 200,000 ordinary shares in the Company at a price of 10.64 pence each via his SIPP. Mr Abbotts total beneficial shareholding in the Company is now 7,563,824 ordinary shares, representing 5.7 per cent of the issued share capital of the Company.

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Egdon Resources plc (AIM:EDR) is pleased to provide an update in relation to the Mairy Permit (the “Permit”), located in the eastern part of the Paris Basin, onshore France.Egdon has been informed by the operator, Hess Oil France (“Hess”), that drilling operations commenced on 20 January 2013 at the Huiron-1 exploration well in the Permit. The Huiron-1 well will evaluate the hydrocarbon potential of the Jurassic, Rhaetian and older formations and is expected to take around 60 days to drill.In addition, Egdon is pleased to advise that it has finalised a farmout of part of its interest in the Mairy Permit to Hess. Under the terms of the farmout, Egdon will transfer an unencumbered 35% interest in the Permit to Hess, taking their total beneficial interest to 85%, in return for a carry of the well costs attaching to Egdon’s retained 15% interest, capped at the level of a gross cost of $10.25 million for the Huiron-1 well. Additionally Hess will carry Egdon for $0.5 million of other general and administrative costs on the Permit. The effective date for the farmout is 1 January 2012. The farmout is subject to the standard government approval process.Egdon also advises that it has reached agreement with Geoex Eastern Limited (“Geoex”) to reduce the burden of an existing Overriding Royalty on the Permit from 4.5% of Egdon’s pre-Farmout interest to 4.5% of the retained 15% interest only. The consideration payable to Geoex for this restructuring comprises $100,255 payable in cash and $100,000 in new Egdon Ordinary shares calculated by reference to the average closing price for the five trading days prior to completion. Accordingly, application has been made for admission of 595,207 new Ordinary shares to trading on AIM, which is expected to become effective on or around 25 January 2013. The newly issued shares represent 0.45 per cent. of the enlarged share capital of the Company.The total number of Egdon Ordinary Shares in issue is now 132,787,543. Therefore, the total number of voting rights in the Company is 132,787,543.Commenting on developments with the Mairy Permit, Mark Abbott, Managing Director of Egdon, said;

“We are pleased to have finalised the restructuring of our interest in the Mairy Permit and as a result have significantly reduced our financial exposure to the Huiron-1 well. We await the results of the well with interest.”

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Egdon Resources plc (AIM:EDR) is pleased to announce the results of an independent evaluation by RPS Energy (“RPS”) of the potential shale-gas resources in the Company’s onshore U.K. East Midland licences PEDL139 and PEDL140 (the “Licences”) where the Company holds 13.5% interests.RPS has reviewed the available data in the Licences and made an assessment of potential gas volumes and geological chance of success based on analogous shale-gas plays in the USA. The Licences are located in Lincolnshire and cover an area which is underlain by the Gainsborough Trough, a geological basin which contains a 125 metre thick sequence of the Carboniferous age Pendleian Shale at a depth of over 2000 metres. The Pendleian Shale is the approximate age equivalent of parts of the Bowland Shale which is the principal shale-gas reservoir target under evaluation in the Bowland Basin of North West England.RPS estimates the mean net Egdon total gas in place (“GIIP”) as 1.76 trillion cubic feet of gas (“tcf”) within the Licences. A review of the surface and sub-surface access constraints in the area has resulted in an estimated mean net Egdon Accessible GIIP of 1.22 tcf. The net Egdon mean Prospective Resources(1) are estimated as 0.19 tcf based on recovery rates in analogous US plays. RPS estimates the geological chance of success to be 24%.Egdon intends to evaluate the potential of the Licences through drilling a deep exploration well, which it is hoped will be undertaken during 2014 subject to obtaining all necessary consents and approvals. Egdon’s costs are carried through this work programme.In addition to the Pendleian Shale, which is the subject of the RPS report, Egdon interprets potential for significant additional shale-gas resources in the underlying Carboniferous succession in the blocks that will be evaluated by any future drilling. Egdon is also evaluating the unconventional resource potential in certain of the Company’s other East Midlands licences.Commenting on the report and recent government announcements in relation to shale-gas exploration, Mark Abbott, Managing Director of Egdon, said;

“Whilst recognising that we are still at an early exploration stage in these Licences, and indeed for UK unconventional resources in general, we are encouraged by the results of the RPS evaluation which indicate that the geological conditions appear favourable for the development of a potentially material shale-gas resource based on the currently available data and comparison with US analogues.We welcome the announcements in December 2012 by the UK Government in relation to Gas Strategy, the setting up of the Office of Unconventional Gas and Oil, and the approval for restarting of shale-gas exploration in the UK. There is now a clear regulatory framework for the exploration of the UK’s unconventional oil and gas resources which have the potential to make a significant contribution to the UK’s economy and energy mix over the coming decades.An executive summary of the report by RPS will be available for download from Egdon’s website.”

Note(1) Any development would have to take into account permitting, legal issues, environmental issues and availability of project finance, but RPS has not made a risk assessment of these factors. In addition RPS has made the assumption that adequate numbers of rigs and fraccing units will be available to drill and complete the large number of horizontal wells which would be required to fully develop the mean Prospective Resources estimated by RPS.View or Download RPS Executive Summary Report