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

Thanks soul traders. With the issues surrounding the UK's dwindling gas reserves, need to import etc I am hoping that planning authority will be granted but I guess Star is a warning shot on that one.

FWIW (again) planning committees can be struck with incapacitatingly large doses of Nimbyism just when it's least needed. Also you never know until you take a closer look just who is lodging objections and, in spite of being possibly many sandwiches short of a picnic, how much clout they have.

All of this could have something to do with EDR's SP going through the wars, or of course it could just be lack of newsflow and good old uncertainty playing its part.

FYI I'm not "in" EDR, just an interested observer.

Thanks again soul traders for that balanced insight. If only all interested observers were as objective (ref:YOO).

Had to chuckle, Queen1. I am reminded of the rhetorical question, "Why look for the living amongst the dead?"

LOL!!!

A VERY positive RNS this morning!


Egdon Resources PLC
28 June 2006

28 June 2006

For immediate release


EGDON RESOURCES PLC

Portland Gas Storage Project Update


Egdon Resources Plc (AIM : EDR), the onshore UK focused energy company, today
provides an update on its gas storage project on the Isle of Portland in Dorset.


Portland Gas Limited ('Portland Gas'), a wholly owned subsidiary of Egdon
Resources Plc, is pleased to report that drilling operations for the Portland-1
borehole have been completed and the BDF Rig 28 is expected to be released
within the next 24 hours.


A total drilled depth of 2929 metres was reached in the Triassic Sherwood
Sandstone on 21st June 2006.


The Portland-1 borehole on the Isle of Portland, Dorset was drilled to confirm
that a halite sequence with a low insoluble content (called 'S7' by Portland
Gas), within a Triassic salt sequence ('Saliferous Beds') of the Wessex Basin,
was suitable for the creation of caverns to store natural gas. Initial technical
analyses of the data acquired from the borehole, by Portland Gas consultant
DEEP. Underground Engineering GmbH ('DEEP') of Germany, indicates that
individual caverns of approximately 250,000 cubic metres could be created within
the S7 sequence at the Isle of Portland location. This is the same volume used
in the pre-feasibility work for the project prior to the drilling of the
Portland-1 borehole.


The Saliferous Beds were encountered with a thickness of 470 metres (41 metres
thicker than forecast). The top of the target S7 interval was penetrated at a
depth of 2365 metres and was found to have a thickness of 135 metres (43 metres
thinner than forecast).


DEEP will coordinate the completion of further laboratory work on core samples
over the S7 sequence and computer simulation of the proposed cavern leaching
programme. Final confirmation of project feasibility is expected in August 2006.


Portland Gas has also undertaken feasibility work, with DEEP and RPS Energy at
Winfrith, Dorset, looking at the use of brine, rather than gas as a cushion for
the gas storage operations. In the case of gas cushion operations a quantity of
gas must always remain in the caverns to maintain a minimum operating pressure.
If brine were used the pressure would always be maintained close to the maximum
operating pressure. Gas withdrawn from the caverns would be compensated by
replacement with an equivalent volume of brine at the subsurface pressure.
Conversely, when gas is injected into the caverns the brine would be withdrawn.
Such operations would offer significant benefits to the Portland project as it
would remove the need to purchase gas to maintain the internal pressure.
Portland Gas proposes to source the brine required for these operations from the
Triassic Sherwood Sandstone aquifer in Dorset. While the Portland-1 borehole
confirmed that the properties of the Sherwood Sandstone aquifer are not suitable
on the Isle of Portland, feasibility studies have identified an area close to
the proposed route of the gas pipeline, which would link the storage facilities
on the Isle of Portland to the National Transmission System, where the Sherwood
could be used. At this location boreholes could be directionally drilled to
withdraw or inject saline formation water. A brine pipeline would be constructed
alongside the gas pipeline to the Isle of Portland to support the gas storage
operations.


Commenting on the project's progress, Andrew Hindle, Joint Managing Director of
Egdon, said:


'We are delighted that the borehole encountered a sequence of salt which appears
suitable to create caverns for the storage of natural gas. We anticipate that
the results of the remaining technical work will enable us during August 2006 to
confirm the feasibility of a gas storage project on the Isle of Portland, and at
the same time outline the proposed storage volumes, injection and withdrawal
rates and project development timetable from start-up. The presence in Dorset of
an aquifer with very saline waters has provided us with the opportunity of
replacing very costly gas with brine for the cushion within the caverns. The
Environmental Impact Assessment work is now at an advanced stage for the project
and planning and pipeline construction authorisation applications are being
prepared for submission in Q4 2006.'


For further information please contact:

Egdon resources Plc


Andrew Hindle, Joint Managing Director 01256 702 292
Mark Abbott, Joint Managing Director

Buchanan Communications

Eric Burns 01943 883 990
Ben Willey 020 7466 5000


Company Background


Egdon is an established, UK-based energy company primarily focused on the
hydrocarbon-producing basins of the onshore UK. Egdon also has exploration
interests in the offshore UK and France. Egdon's shares are traded on the AIM
market.


The Company is developing two major business areas:


An oil and gas exploration and production business which has a portfolio of
twenty exploration licences containing identified oil and gas prospects ranging
from discoveries under appraisal through to higher risk but higher reward '
wild-cat' exploration prospects.


A gas storage business initially focused on the prospective development of a
major salt cavern gas storage facility beneath the Isle of Portland, Dorset.


In accordance with AIM rules -guidance for mining, oil and gas companies, the
information contained in this announcement has been reviewed and signed off by
the Joint Managing Director of Egdon Resources Dr Andrew Hindle, a Chartered
Geologist with over 22 years experience.






This information is provided by RNS
The company news service from the London Stock Exchange

At last - great news for those that kept the faith!!!!!

Still heading north. I thought they may retrace slightly after yesterday's rise so good to see momentum maintained.

Still looking good, and outlook could not be better.

Agreed porky. A new high reached, where to next week I wonder?

Now this is looking good......up 17% at present today. More to come?

Credit Suisse topping up at high levels:

The Company was notified today that as a result of acquisitions of ordinary
shares in Egdon Resources ('Ordinary Shares'), Credit Suisse Securities (Europe)
Limited now has an interest in 3,513,333 Ordinary Shares, representing approximately 6.15 per cent. of the issued Ordinary Share capital of the Company.

Is this the momentum building prior to a positive Portland announcement??

Could be - but this has now doubled in approx two months. What would be fair value?

With the issues the UK is facing in the not-too-distant future regarding gas supplies, dependency on Russia etc it's anyone's guess....

The excellent news we have been waiting for - Portland is feasible!

Egdon Resources Plc, the onshore UK focused energy company, today provides an update on its gas storage project on the Isle of Portland in Dorset.

Portland Gas Limited ('Portland Gas'), a wholly owned subsidiary of Egdon Resources Plc, is pleased to report that it has received a report from DEEP.
Underground Engineering GmbH of Germany confirming the technical feasibility of
the proposed gas storage facility in Dorset. Subject to obtaining planning approval for the project, Portland Gas will commence construction as soon as possible.

Following analysis of the data acquired from the Portland-1 well, which completed drilling operations on 21 June 2006, Portland Gas can now confirm that it proposes to develop a facility comprising 14 caverns within the Triassic Saliferous Beds capable of storing 1000 million cubic metres (35 billion cubic feet) of natural gas.

The facility is being designed to enable the injection or withdrawal of gas at a
rate of 20 million cubic metres per day (0.7 billion cubic feet per day). At these rates the entire storage volume could be filled or emptied in 50 days.

Portland Gas is now finalising the environmental statement for the project and
the planning and pipeline construction authorisation applications are being prepared for submission in the fourth quarter of 2006. Assuming planning approval for the project is forthcoming in the first half of 2007, it is anticipated that an initial storage capacity would be available to make gas deliveries to the national transmission system in the winter of 2010, with full capacity being available during 2013.

The Directors of Egdon Resources Plc are also pleased to announce that N M
Rothschild & Sons have been appointed as financial advisors with specific
responsibilities for Portland Gas.

Commenting on the project's progress, Andrew Hindle, Joint Managing Director of Egdon, said: 'We are delighted to be able to confirm the feasibility of a gas storage project on the Isle of Portland. The proposed facility would make a significant contribution to the storage needs and security of gas supply for the United Kingdom, with the capability when fully developed to provide up to 5% of the national gas demand on a winter's day. The appointment of Rothschilds to assist with the financing of the project and securing storage agreements with customers is an important element of our plans to ensure that construction of the facility can commence immediately upon a grant of planning approval.'

Whoosh! That's quite some rise on the closing bell today. More news coming?

I can't believe there have been no posts on here for 6 months! Then again there's not been much news. Some good movement today however....

EDR going from strength to strength - Egdon Resources said its Portland Gas NI Ltd unit has won an exploration licence from The Crown Estate to evaluate the suitability of a Permian salt sequence deep below Larne Lough in Northern Ireland to create caverns to store natural gas.

The company said Portland Gas is planning to carry out a seismic survey in October to confirm the extent of the salt sequence seen in the old borehole. Data will be acquired in the northern half of Larne Lough using shallow-draft boats and on roads adjacent to the Lough by vibroseis trucks, it said.

Egdon Resources said it has started oil exports from its 100% owned Keddington oil field in Lincolnshire which is currently yielding 48 barrels of oil per day - a figure the company plans to ramp up. The oil is being pumped from the Keddington-1z well following workover operations and it is intended to increase the pump rate of this well and restore production from the Keddington-2y well. All required regulatory and environmental approvals for continuing production from the site have been received. The company bought the PEDL005 (Remainder) Keddington licence from Roc Oil last year.

At the 20 pct-owned Weald Basin licence PEDL070, operator Star Energy told Egdon that drilling operations were completed at the Avington-3z horizontal well and production testing is expected to start in August.

In an operational update, Egdon added that good progress is being made for the drilling of the Burton Agnes-1 exploration well where the company is operator and 25 pct-owner of North Yorkshire licence PEDL071.

Egdon added that contracts for the site lease, site construction and drilling rig are in the final stages of negotiation and long lead items have been procured. Site construction is expected to start during August 2007.

The company also received permit approval to drill the Grenade-3 well at the St Laurent Licence area in France.