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 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

Got in on 15/1 at 24.3 only to see it drop-quickly put stop on at 20 but thankfully it never got there and is now trading at 35p/s up 40% after just 4 trading days!!!