Egdon Resources plc Interim Results for the six months to 31 January 2011 & Business Review Interim Results for the 6 months to 31 January 2011
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 period of 4.4 million (H1 2010: 0.15 million) Operating Profit up to 0.1 million (H1 2010: Loss of 0.25 million) Profit on Asset disposal of 4.3 million (H1 2010: 0.4 million) Oil Revenues during…
Operational Highlights Production during the period up 56% to 17,671 barrels of oil (H1 2010: 11,283 barrels) from the Keddington, Avington and Kirklington oil fields Oil Discovery made at Markwells Wood-1 to be tested during 2011…
Corporate Highlights Completion of acquisition of EnCore (E&P) Limited for consideration of 100,000 in cash Completion of farm-out of PEDL139 and PEDL140 to achieve a carried interest in the drilling of a shale-gas test well…
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…
Production - Keddington Oil Field PEDL005 (remainder) :Egdon 75% and operator Drilled Keddington-3 and 3z sidetracks in April 2010 = 235 metres of oil bearing sandstone, produced Gas found in deeper Namurian age reservoir =…
Production - Kirkleatham Gas Field PEDL068: Egdon 40% and operator Discovered by Egdon in 2006: gas in Permian limestone (Cadeby Formation) at depth of 800 m Egdons first gas field development with gas sold to Sembcorp at Wilton…
Production - Ceres Gas Field P.1241 (47/93): Egdon 10% - non-operated Sub-sea tieback to Mercury and then via Neptune and Cleeton to Dimlington onshore terminal First production in April 2010 c. 20 mmscfg/d (after back-out Net Egdon…
Production - Other UK assets Avington: PEDL070 Egdon 36.67% non-operated Ongoing production during 2010 (facilities upgraded in Aug-Sept. 2009) Avington-2z restored to production in December 2010 2010-11 production of c.30-40 bopd…
Markwells Wood-1 Oil Discovery Markwells Wood-1: PEDL126 Egdon 10% non- operated interest Oil proven in Great Oolite reservoir in possible eastern continuation of Horndean oil field Oil seen in cuttings, core and calculated from…
Key Appraisal Projects 2011-12 Waddock Cross: PL090 Egdon 45% operated Testing of Bridport Sandstone oil discovery deferred from 2010 6 month extended well test (EWT) planned for May to October 2011 (planning consent received) Net…
High Impact Exploration Projects 2011-12 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 2011/12 conditional upon…
Valhalla Deal East Midlands Core Area 50% interest acquired from Valhalla in PEDL180 and PEDL181 10% net profit interest on transferred interest Strong synergy with identified prospectivity in PEDL182 Broughton-Wressle Trend 2D…
2011-12 Work Programme Slide 16 Interim Results for the 6 months to 31 January 2011
2011-13 Planned Work Programme Slide 17 Interim Results for the 6 months to 31 January 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 should be transformational for Egdon Balanced onshore Exploration…
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