Egdon Resources PLC Wressle Operational Update (8127G)
29 Julio 2021 - 1:00AM
UK Regulatory
TIDMEDR
RNS Number : 8127G
Egdon Resources PLC
29 July 2021
29 July 2021
EGDON RESOURCES PLC
("Egdon" or "the Company")
Wressle Operational Update
Egdon Resources plc (AIM: EDR, "Egdon"), an established
exploration and production company focused on the
hydrocarbon-producing basins of the onshore UK, is pleased to
provide an update on operations at its Wressle Oil Field
Development ("Wressle") located in North Lincolnshire, covered by
Licences PEDL180 and PEDL182 and where the Company holds a 30%
operated interest.
Egdon is pleased to advise that the proppant squeeze operation
on the Ashover Grit reservoir interval in the Wressle-1 well has
been completed safely and successfully. A total of 146 cubic metres
of gelled fluid with 17.3 tonnes of ceramic proppant were injected
into the Ashover Grit formation in line with the authorised
programme. The injection operations lasted a total of only 1 hour
and 30 minutes over a two-day period.
There were no health, safety, environmental or security issues
experienced during the operations; and as predicted, real time
monitoring confirmed there was no induced seismicity and that the
noise levels were well within the permitted limits. The operation
was subject to a pre-operational inspection by the Health and
Safety Executive and active monitoring by the Environment Agency.
Ground and surface water monitoring has continued in accordance
with the requirements of the Environmental Permit.
All equipment and personnel associated with the operation have
now demobilised from site.
The Wressle well will now be subject to a coiled tubing
operation to fully clean out the production tubing prior to
bringing the well back into production through the site's permanent
production facilities. Based on the implemented programme,
pre-operational simulation modelling concluded that the proppant
squeeze operation would result in constrained flow rates of 500
barrels of oil per day (gross). Once the well is brought back into
production, we will provide a further update to report on the
stabilised flow rates achieved from the proppant squeeze.
Mark Abbott, Managing Director of Egdon, commented:
"I am pleased to report on the safe and successful completion of
the proppant squeeze operations at Wressle. I would like to thank
our team of contractors and staff for the highly professional way
in which the operations were undertaken with no adverse impact on
the environment or the amenity of our neighbours.
I now look forward to the well being placed back on production
and reporting on the positive impact of the operation on future oil
production from the site in the coming weeks."
For further information please contact:
Egdon Resources plc
Mark Abbott, Martin Durham 01256 702 292
Buchanan
Ben Romney, Chris Judd 020 7466 5000
Nominated Adviser & Joint Broker - WH Ireland Limited
Chris Hardie, Lydia Zychowska 020 7220 1666
Joint Broker & Financial Advisors - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
Notes to Editors:
Egdon Resources plc (LSE: EDR) is an established exploration and
production company focused on the hydrocarbon-producing basins of
the onshore UK.
Egdon holds interests in 39 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.
Wressle
The Wressle-1 well was drilled in 2014 and tested in 2015. The
Wressle-1 well has flowed oil and gas from three separate
reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone
Flags. This totalled 710 barrels of oil equivalent per day from all
zones. In September 2016 a Competent Person's Report made
independent estimates of Reserves and Contingent and Prospective
oil and gas Resources for the Wressle discovery of 2.15 million
stock tank barrels classified as discovered (2P+2C).
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.
Evaluation of hydrocarbon volumes has been assessed in
accordance with 2007 Petroleum Resources Management System prepared
by the Oil and Gas Reserves Committee of the Society of Petroleum
Engineers (SPE) and reviewed and jointly sponsored by the World
Petroleum Council (WPC), the American Association of Petroleum
Geologists (AAPG) and the Society of Petroleum Evaluation Engineers
(SPEE).
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via Regulatory Information Service
("RIS"), this inside information is now considered to be in the
public domain.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDBLGDRXGDDGBI
(END) Dow Jones Newswires
July 29, 2021 02:00 ET (06:00 GMT)
Egdon Resources (LSE:EDR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Egdon Resources (LSE:EDR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024