Egdon Acquires EnCore Stake
Egdon announced that EnCore will assign to Egdon its 7.5% interest in a newly offered offshore license covering part blocks 98/13 and 98/14. This assignment is a consequence of the agreement by which Egdon acquired certain UK and French assets from EnCore, and which completed in 2010.
The new license is located immediately offshore from existing Isle of Wight onshore license, PEDL 240 where Egdon also has a 7.5% interest acquired from EnCore. The part blocks 98/13 and 98/14 cover the offshore extension from PEDL 240 of a prospect that has been mapped using both seismic and well data and is located in the same petroleum basin as the Wytch Farm oil field.
The assignment is subject to approval from Department of Energy and Climate Change.
Following completion the licensees in part blocks 98/13 and 98/14 will be:
- NP Solent Ltd 62.5% (Operator)
- Magellan Petroleum (UK) Ltd 22.5%
- Egdon Resources U.K. Limited 7.5%
- Montrose Industries Ltd 5.0%
- Oil & Gas Investments Ltd 2.5%
- Drilling and Completion Tick Up in the UK (Sep 21)
- British Shale Gas Gets Boost From Court Ruling On Permit (Dec 20)
- Egdon Increases Stake in PEDL201 (Nov 16)
Company: EnCore Oil plc more info
- Deo Petroleum: Amalgamation Agreement Finalized (Jan 12)
- Egdon Acquires EnCore Stake (Jan 06)
- Weather Delays Drilling at EnCore's Tudor Rose Well (Dec 08)