I have been watching Egdon Resources for a while, and think they may prove to be worth an investment.

I like the idea of a British company finding oil and gas on UK soil, and as Egdon have a site at Waddock X, fairly close to where I live, I have decided to follow their progress.


Egdon has interests in 19 licences in the hydrocarbon producing basins of the UK and France, containing two oil discoveries and a further 48 prospects.

The Company's shares are traded on the Alternative Investment Market of the London Stock Exchange.




OIL AND GAS ASSETS

Egdon holds 19 licences, all of which lie within proven oil and gas producing basins and contain a mix of oil and gas prospectivity. The assets and technical management of the Company are divided into four geographically defined business areas; Southern England, Northern England (and adjacent offshore areas), East Midlands and France.





Company website : http://www.egdon-resources.com

Egdon Resources Plc - preliminary results for the year ended 31 July 2007.

Operational Highlights

Gas Storage

Portland Gas Storage Project parameters confirmed as 1,000 million cubic metres capacity facility with injection/ withdrawal rates of 20 million cubic metres per day

Planning applications and pipeline construction authorisation application submitted for Portland Gas Storage Project in March 2007

Front end engineering design completed and invitation for tender package issued during September for the pipeline and facilities construction

New project announced for potential salt cavern gas storage project at Larne Lough, County Antrim, Northern Ireland

Oil & Gas Exploration

Acquisition of PEDL005 (Remainder) containing the Keddington Oil Field which was restored to production during June 2007

Production testing ongoing at Avington-3z well

Acquisition of four licences from Stag Energy Limited

Farm-outs concluded for wells in licences PEDL071 and PEDL141

Drilling activity planned at Burton Agnes, Grenade and Tees during late 2007

Currently holds 24 licences in UK and France

Financial Highlights

Loss for period of 537,968 (2006: 519,250)

Loss per share of 0.85p (2006: 0.94p)

Net funds as at 31st July 2007 7.9 million (31st July 2006: 1.89 million)

Completion of an institutional placing during October 2006 to raise 11.52 million net of expenses

Completion of an institutional placing during September 2007 to raise 4.8 million net of expenses

Commenting on the results, Philip Stephens, Chairman of Egdon, said:

'2006/7 has been another year of progress in our two activities of oil and gas exploration and production and gas storage development. As previously reported we are on track to achieve the creation of two separate companies by way of a demerger so that shareholders will own shares in each distinct business, both of which will be admitted to AIM.'

CHAIRMAN'S STATEMENT

The results for the year to 31st July 2007 show a consolidated loss before taxation of 537,968 (2006: 519,250). No dividend is being proposed. The company had net cash balances at the year end of 7.9 million (2006: 1.89 million). In October 2006, we completed a placing with institutions to raise 12 million before costs. A second institutional placing in September 2007 realised 5 million before costs. As a result we have been able to continue to fund the development of our gas storage projects and also our drilling and development programme in our oil and gas activity.

Gas Storage

The key achievement in our gas storage activity was the submission in March 2007 of a number of planning applications to Dorset County Council and Department of Business, Enterprise and Regulatory Reform (formerly the DTI) covering the creation of salt storage caverns on Portland, Dorset and the constructing of a pipeline connecting the storage facility with the National Gas Grid. The United Kingdom is moving from being self sufficient from its reserves in the North Sea to being a net importer as these reserves decline. The creation of this gas storage facility is therefore a significant national project. Dorset County Council is co-ordinating consideration of the applications on behalf of the numerous councils and agencies involved. The time required for consideration has taken longer than originally expected to accommodate requests for additional supporting information to the applications, in respect of new archaeological fieldwork, geotechnical and other surveys and the adoption of additional environmental mitigation measures. These works and designs have now been completed and we expect a decision to be made during the first quarter of 2008. The front-end engineering design work was completed in September 2007 and invitation to tender packages have been sent out to pre-qualified companies for construction of the facilities and pipelines. On this basis, contracts could be granted on award of planning permission to enable construction to commence immediately, and first gas stored in the facility on time during 2011.

We were pleased to announce in July a new gas storage project in Northern Ireland. We have been granted an exploration licence from the Crown Estate to evaluate a storage project at Larne Lough, County Antrim. Northern Ireland at present has no gas storage facilities and if, following the seismic programme to be undertaken by the end of 2007, the suitability of the site is confirmed, then planning will be sought to develop this important strategic facility. The funding of the evaluation of this project will be largely met from the proceeds of the placing of shares in September this year, which realised 5 million before expenses.

Clearly it has been an encouraging year for Portland Gas and we look forward to being able to announce the grant of planning permission so that construction of the storage caverns can commence on Portland.

Oil and Gas Exploration and Production

There have been a number of additions to our oil and gas exploration and production business through acquisition. Earlier in the year, as mentioned in my interim statement, we acquired the Keddington Oil Field in the East Midlands for 250,000 in cash. Production has been restarted in one of the two wells and is currently producing around 40-45 barrels of oil per day. We plan to optimise production from the field during the coming year with restoration of production from a second well.

In October we completed the acquisition of four licences in the East Midlands from Stag Energy Limited for a total consideration of 125,000 of which 100,000 was payable in cash and the balance by the issue of Egdon shares. This acquisition adds significant acreage to one of our core areas and has the potential to add material reserves. We will initially focus our efforts on the potential identified in the Eakring-Dukes Wood oil field.

In August we announced that production testing of our well at Avington, which is operated by Star Energy Plc, produced at 470 barrels per day. We have a 20 per cent interest in this well and these early results are very encouraging. Further testing is currently taking place to establish the full potential for oil recovery and we will announce the results in due course.

At our Kirkleatham gas discovery our plan is to sell gas to a local industrial user. Negotiations are proceeding and we hope to have the field on production during 2008.

Outlook

As previously mentioned we expect the planning decision for our Portland Gas Storage project in the first quarter of 2008. Assuming a positive outcome, we will be in a position to proceed with financing arrangements for the construction. Together with our advisors we are already considering various options in order to maximise value to our shareholders.

We have achieved our previously stated aim in our oil and gas division to move into production in 2007 and first revenues are now being received. Further development plans should see increasing production and revenues in 2008. We can also look forward to wells on the Burton Agnes, Grenade and Tees prospects during the remainder of 2007.

The demerger is now planned to become effective in January 2008 subject to approval at an Extraordinary General Meeting and a separate circular will be sent shortly to shareholders giving full details.

All in all, 2007 has been another exciting year and, with every expectation that our important goals will be achieved soon, we thank shareholders for their continuing support.

Egdon Resources said its wholly-owned subsidiary Portland Gas NI Ltd has commenced its planned 3D seismic acquisition programme in Larne Lough, Northern Ireland.

The company said the survey covering about 10 square kilometres is being undertaken by the geophysical contractor, IMC Geophysics, adding that data is being acquired in the northern half of Larne Lough in shallow-draft boats and on roads adjacent to the Lough by vibroseis trucks.

'Portland Gas hopes that the data will confirm the extent of a salt sequence seen in a 1980's borehole drilled close to the docks in Larne,' managing director of Portland Gas Andrew Hindle said in a statement.

A nice move up of almost 7% today to take it up out of its recent trading range. Demerger plans announced last week which look good. Perhaps the market is waking up to EDR again.

Egdon Resources said it will demerge its gas storage business into New Portland PLC and oil and gas business into New Egdon PLC. The company said it will list both the new companies on AIM as separate entities on Jan 16.

It said New Portland, which will be re-named 'Portland Gas PLC' following admission, will issue about 67.8 mln shares and will have a market capitalisation of about 140 mln stg. New Egdon, to be renamed Egdon Resources PLC following admission to AIM, will issue about 67.8 mln shares and have a market capitalisation of about 30 mln stg.

Egdon Resources said it has started drilling operations at the Grenade-3 well, part of the St Laurent Permit in France, in which it holds a 33.42 pct interest.

The Grenade-3 well, a step-out to the Grenade-1 discovery well and an appraisal of the Grenade heavy oil accumulation, will take about 30 days to reach the target depth, Egdon said.

Contingent upon the results of this pilot hole, Egdon said a horizontal sidetrack will be drilled and completed to undertake a long-term production test.

A very positive start to the week, up almost 24% so far today :-)

queen1 - you seem to have gone remarkably quiet.
This stock is almost parallel with the zero-line - was this as a result of the Portland Gas demerger?
+PG also appears to have been downward.

Anyone?

I sold hangon. Over the last three years I made a huge return on these especially Portland Gas when it flew to 400p but the time was right to leave.

Good luck to all current holders.

Cracking news:

Egdon Resources says that the Keddington -3z well in Lincolshire has been producing oil since 7 June 2010 and production during the first seven days was 1855 barrels at an average rate of 265 barrels per day. The well is also producing significant quantities of gas with the daily rate being over 500,000 cubic feet of gas per day.

The currently observed production represents over a ten fold increase in daily oil volume and a five fold increase in gas volume from the Keddington-2z donor well.

The Company adds that the flow from the well is currently being restricted to manage the gas flows and pressures in the surface facilities. Given the significant levels of gas being produced from this well, Egdon is now looking to resurrect plans for on-site electricity generation with a view to developing an additional revenue stream and utilising the produced gas.

Mark Abbott, Managing Director of Egdon says: "We are encouraged by the early performance of the Keddington-3z well. The current level of oil production exceeds our pre-drill estimate and will provide a welcome a boost to production and revenues. The high level of gas production presents us with an opportunity to generate further cashflow from the field in due course and as a priority we will be reviewing our options for electricity generation over the coming weeks. "

DJ Egdon Resources PLC Planning approval

TIDMEDR

RNS Number : 7187A

Egdon Resources PLC

04 February 2011

For Immediate Release 4 February 2011

EGDON RESOURCES PLC

("Egdon" or "the Company")

Planning approval for Nooks Farm drilling operations

Egdon Resources plc (AIM:EDR) is pleased to announce that it has been advised by Seven Star Natural Gas Ltd ("Seven Star"), the farm-in partner on Staffordshire licence PEDL141, that planning permission was granted by Staffordshire County Council for the re-entry and testing of the Nooks Farm-1A well at a planning committee meeting held on 3 February 2011.

The Nooks Farm accumulation was discovered by Shell in 1982, with the Nooks Farm-1A well encountering gas bearing sandstones of Carboniferous age at a depth of 430m relative to sea level. The well achieved a maximum flow rate of 1.12 million cubic feet of gas per day on test. Estimates of the volumes of gas in place at Nooks Farm have been independently assessed as being in the range of 0.88 to 3.83 billion cubic feet of gas. It is proposed to re-enter the Nooks Farm-1A well and produce gas for on-site electricity generation with export via an underground cable to the National Grid.

Under the terms of a Farm-in Agreement the drilling will be operated by Seven Star, a wholly owned subsidiary of UK Onshore Gas Limited.

Egdon holds a 46% interest in the licence and will be carried through the planned drilling programme.

Egdon will provide an update on the timing of operations in due course.

The licence interests in PEDL141 are:

Egdon Resources Plc 46%

Seven Star Natural Gas Limited 50%

Altwood Petroleum Limited 4%

Commenting on the news Egdon's Managing Director Mark Abbott said:

"We are pleased to receive consent for our planned re-entry of the Nooks Farm-1A gas discovery well and now look forward to Seven Star progressing plans for drilling and testing operations which we expect to be completed by September of this year. The proposal for low impact operations has enabled us to gain planning consent where previous operators have failed. Given a successful outcome to the operations we believe that Nooks Farm could make a contribution to revenues as early as 2012."

For further information please contact:

Egdon Resources plc

Mark Abbott 01256 702292

Buchanan Communications

Richard Darby, James Strong, Gabriella Clinkard 020 7466 5000

Nominated Adviser and Broker - Seymour Pierce

Jonathan Wright, Jeremy Porter (Corporate Finance) 020 7107 8000

Richard Redmayne (Corporate Broking)

Notes to Editors:

Egdon Resources plc

Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company primarily focused on onshore exploration and production in the hydrocarbon-producing basins of the UK and Europe.

Egdon currently holds interests in thirty one licences in the UK and France and has an active programme of exploration, appraisal and development within its balanced portfolio of oil and gas assets. Egdon is an approved operator in both the UK and France.

Egdon was formed in 1997 and listed on AIM in December 2004.

www.egdon-resources.com

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained in this announcement has been reviewed and signed off by the Managing Director of Egdon Resources plc Mark Abbott, a Geoscientist with over 25 years' experience.

This information is provided by RNS

Cantor Fitzgerald Buy 15.63 17.00 17.00 Reiterates

Top riser on the FTSE at the moment...!

Egdon Resources and its partners - GP Energy Limited, Island Gas Limited and eCORP Oil & Gas UK - has signed a farm-out agreement with Total E&P UK for licences PEDL139 and PEDL140 located in the Gainsborough Trough geological basin in Lincolnshire. Egdon will hold a 14.5% interest in the licences which cover an area of 240 square kilometres and are immediately adjacent to licences PEDL209 and PL161/162 where Egdon has further interests.

Total will earn a 40% interest in the licences through the payment of $1.6m in back costs and the funding of a fully carried work programme of up to $46.5m. Total has the option to exit after an initial period of this work programme corresponding to a minimum commitment of $19.5m. The programme will include the acquisition of 3D seismic, the drilling and testing of a vertical exploration well and associated well pad construction, and, conditional on the success of the testing of the exploration well, the drilling and flow testing of a second appraisal horizontal well.

Up another 30%.

Looks like I picked the wrong one (IGAS)....well perhaps not the wrong one, but in rising percentage terms...

Just sold some @21.5p - too much too soon?

perhaps switch into Igas ?....this is going to spike and settle,... here..check out AGL...

That's an interesting chart RF - looks very tradeable.

Perhaps you could put that on the AGL thread...thanks...

Blimey!

EOG now starting to soar