Egdon Resources PLC Response to Ministerial Statement (4463A)
23 Septiembre 2022 - 2:51AM
UK Regulatory
TIDMEDR
RNS Number : 4463A
Egdon Resources PLC
23 September 2022
23 September 2022
EGDON RESOURCES PLC
("Egdon" or "the Company")
Response to Written Ministerial Statement on Shale Gas
Extraction
The directors of Egdon Resources plc (AIM:EDR), a UK focused
energy company, welcome the Written Ministerial Statement (WMS)
from the Rt Hon Jacob Rees-Mogg MP, Secretary of State for the
Department of Business, Energy and Industrial Strategy in which he
confirmed the lifting of the moratorium on shale gas extraction and
the Government's commitment to reviewing shale gas policy .
Commenting, Mark Abbott, Managing Director of Egdon Resources
plc, said:
"The WMS is an important first step by the Government in
delivering this nationally important resource. We look forward to
working positively with Government to develop the right regulatory
environment to realise the potential of indigenous shale gas, which
in contrast to a growing reliance on imports, could have a positive
impact on the UK's energy security whilst delivering environmental,
fiscal and community benefits and thousands of well paid, skilled
jobs."
For further information please contact:
Egdon Resources plc
Mark Abbott, Martin Durham 01256 702 292
Buchanan
Ben Romney, Jon Krinks 020 7466 5000
Nominated Adviser & Joint Broker - WH Ireland Limited
Chris Hardie, Megan Liddell 020 7220 1666
Joint Broker & Financial Advisors - VSA Capital Limited
Andrew Monk, Andrew Raca 020 3005 5000
Egdon's Shale Gas Assets
Egdon's holds a material shale-gas acreage position in Northern
England covering a net area of 664 square kilometres (km(2) )
(164,280 net acres) with estimated Mean volumes of undiscovered gas
in place of 37.6 trillion cubic feet of gas (independently assessed
by ERCE in 2016). Egdon's core area, is the Gainsborough Trough of
Nottinghamshire, Lincolnshire and Yorkshire, where the Company
holds interests in 288 km(2) (71,361 net acres). The results from
the 2019 Springs Road-1 well (Egdon 14.5%) compare favourably with
some of the best US commercial shale operations and highlight a
potentially world class resource in the prospective Gainsborough
Shale. Egdon also retains interests in the Widmerpool Basin and
Humber Basin of the East Midlands, the Cleveland Basin of NE
England and the Blacon Basin of NW England.
About Egdon
Egdon Resources plc (LSE: EDR) is an established UK-based energy
company focused on onshore exploration and production in the
UK.
Egdon holds interests in 36 licences in the UK and has an active
programme of exploration, appraisal and development within its
portfolio of oil and gas assets. Egdon is an approved operator in
the UK. Egdon was formed in 1997 and listed on AIM in December
2004.
Qualified Person Review
In accordance with the AIM Rules - Note for Mining and Oil and
Gas Companies, this release has been reviewed by Mark Abbott,
Managing Director of Egdon, who is a geoscientist with over 30
years' experience and is a member of the Petroleum Exploration
Society of Great Britain and a Fellow of the Geological Society. Mr
Abbott has consented to the inclusion of the technical information
in this release in the form and context in which it appears.
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END
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