Wressle Update -Artificial Lift

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Egdon Resources plc (AIM:EDR), the UK Energy Company, announces that operations to install artificial lift on the Wressle-1 well  (in which Egdon has a 30% interest) have commenced.

The operations began with a slickline programme where downhole pressure and temperature gradients were acquired. Slickline operations have now been completed and the ongoing work programme includes recompleting the well for installation of a downhole jet pump and installing the associated surface equipment. It is expected that these operations will last around three weeks and that production from the Wressle-1 well is expected to be reinstated in late September.

The downhole data obtained from these activities is being incorporated into the ongoing work by ERC Equipoise Ltd and the impact of the artificial lift will be included in the independent Competent Person’s Report which will be announced once this additional work is completed.

Commenting Mark Abbott, Managing Director of Egdon, said:

“The installation of a jet pump system has been programmed for some time and was selected following earlier evaluation of all artificial lift options along with our joint venture partners.  Its installation will ensure production from the Wressle-1 well continues to be optimised following the expected onset of water production. I am pleased to confirm that operations to install the system have begun and I will update shareholders in due course.”

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