Egdon to re-assess nearshore North Sea gas prospect

Britain’s government has awarded Egdon Resources (AIM:EDR) operatorship of North Sea blocks 41/18 and 41/19 under the UK’s 26th offshore licensing round.

Offshore staff

ODIHAM, UK – Britain’s government has awarded Egdon Resources (AIM:EDR) operatorship of North Sea blocks 41/18 and 41/19 under the UK’s 26th offshore licensing round. Both blocks are off the northeast England coast of North Yorkshire.

Total discovered gas in 1966 with the sole well drilled to date on the license area, 41/18-1 (A339/1-2). Following acidization, the well tested gas at rates of up to 2.5 MMcf/d (70,790 cm/d) from fractured Upper Permian Hauptdolomit carbonates.

Egdon estimates potential resources for the drilled structure in the range 40-272 bcf (1.1-7.7 bcm). The company plans to acquire, reprocess and interpret existing 2D seismic over the blocks, analyze previous well results, and perform a regional geological evaluation.

Depending on the outcome, it will apply to drill a well from an onshore location to appraise the original discovery, which was one of the earliest in the North Sea.

4/15/2013

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