Egdon Resources plc Preliminary Results for the year ended 31 July 2011 & Business Review Preliminary Results for the year to 31 July 2011
Egdon Overview An AIM listed oil and gas exploration and production company focused on onshore UK and mainland Europe A balanced portfolio of production, development, appraisal and exploration projects positioning the Company for…
Egdon Resources plc - Vision & Strategy The aim of the Group is to create shareholder value by building a profitable and material full cycle exploration, production and energy business with a focus on onshore European operations…
Financial Highlights Profit for the year 4.08m (31 July 2010: 0.24m) Revenues during the period up 90% to 2.38m (31 July 2010: 1.25m) Exceptional profit on disposal of subsidiary company and assets of 4.3m (31 July 2010: 0.4m) Basic…
Operational Highlights Production up 73% to 46,919 barrels of oil equivalent (2010: 27,056 boe) Kirkleatham Gas Field brought on production in April 2011 Oil Discovery made at Markwells Wood-1 to be tested during November 2011…
Corporate Highlights Completed the acquisition of EnCore (E&P) Limited Farmed-out shale gas test well in PEDL139 and PEDL140 Completed the sale of Egdon Resources (New Ventures) Ltd for cash consideration of 4.5 million Acquired…
UK Licences & Prospects Strategy of rationalising and improving Egdons portfolio = Relinquished 7 UK licences during period (write down of 594K & reduction of 40 mmboe in Prospective Resources) All Egdons licences in proven…
Developing Oil Prospects & Growing Production in the East Midlands Production = Keddington, Dukes Wood/Kirklington Appraisal = Nooks Farm, Broughton Exploration = multi-well drilling campaign planned starting in mid-2012 Targeting…
Keddington Oil Field PEDL005 (remainder): Egdon 75% and operator Egdon looking to maximise value of greater Keddington area Keddington-4 drilled in April 2011 120 m horizontal section production of c. 50 bopd and 200,000 cfg/d…
Eakring/Dukes Wood/Kirklington Eakring/Dukes Wood/Kirklington: PEDLs 118 & 203 Egdon 65% operated To be jointly developed as a single production unit high water- cut production from both Kirklington-3z and Dukes Wood-1 Dual…
Broughton/ Wressle / North Kelsey 49 km2 3D survey planned for late 2011 to determine final well locations on one of both prospects Area located between Crosby Warren oil field and Brigg oil well Broughton Prospect: PEDL182 Egdon…
Biscathorpe Biscathorpe Prospect: PEDL253 Egdon 60% operated Large 3D defined prospect to the west of Keddington Oil discovered but not tested in 1 m sand in well drilled by BP in 1987 Sands expected to thicken down-dip on…
Exploiting Gas in Northern England & Offshore Kirkleatham Gas Field PEDL068: Egdon 40% and operator Discovered by Egdon in 2006: gas in Permian limestone (Cadeby Formation) at depth of 800 m Gas sold to Sembcorp at Wilton for use…
Ceres Gas Field P.1241 (47/9): Egdon 10% - non-operated Sub-sea tieback to Mercury and then via Neptune and Cleeton to Dimlington onshore terminal Significant maintenance shutdown in 2010-11 (7 days production) and again from July…
Westerdale/Ralph Cross & New Offshore Project Ralph Cross/Westerdale: PEDL068 Egdon 40% operated Gas tested in fractured Permian limestone in two wells (Westerdale-1 & Ralph Cross-1) Net Egdon Best Estimate Prospective Resources of…
Well Testing Operations & Appraisal 2011-12 Waddock Cross: PL090 Egdon 45% operated Testing of Bridport Sandstone oil discovery deferred from 2010 6 month extended well test (EWT) commenced in August 2011 Results to be advised in…
Other UK Exploration Holmwood: PEDL143 Egdon 38.4% non-operated Between known oil and gas accumulations in Surrey Net Egdon Best Estimate Prospective Resources of 16.6 bcf Drilling in 2012 conditional upon success of planning appeal…
French Licences & Prospects Major restructuring of French assets in 2011 with sale of Egdon Resources (New Ventures) Ltd to eCORP for 4.5m Ban on hydraulic fracking in France Audignon: St Laurent Egdon 33.423% operated interest…
Future Developments & Outlook Production target reduced from 500 boped to 400 boepd for coming period due to reduced production from Kirkleatham Production from Keddington, Kirkleatham, Ceres, Avington, Dukes Wood/Kirklington…
2011-13 Planned Work Programme Slide 20 Preliminary Results for the year to 31 July 2011
Future Developments & Outlook The expected growth in UK production and revenues combined with an increased level of drilling activity means that the coming period could be transformational for Egdon Balanced onshore Exploration…
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