Egdon Awarded North Sea License

UK-focused Egdon Resources reported Thursday that it has been awarded a license for North Sea blocks 41/18 and 41/19 off the North Yorkshire coast by the Department of Energy & Climate Change. The licence was awarded as a result of 26th UK Seaward Licensing Round and Egdon will hold a 100-percent interest as well as operatorship.

Egdon estimates potential for the drilled structure that already exists in the license area, the 41/18-1 well (drilled by Total in 1966), to contain substantial prospective resources in the range of between 40 and 272 billion cubic feet of gas.

Egdon intends to re-evaluate this gas discovery through a work program that will include the acquisition, reprocessing and interpretation of existing 2D seismic data over the blocks together with detailed analysis of the previous well results and regional geological evaluation. Egdon said that it would seek to drill a well from an onshore location to appraise the discovery made by the original 1966 well.

Egdon Managing Director Mark Abbot commented in a company statement:

"We are delighted to have been awarded this 26th Round license over these high potential blocks in one of our focus areas. We believe that our proposed approach of appraising and potentially developing this prospect via an onshore to offshore well could unlock the value in one of the earliest North Sea gas discoveries and we look forward to commencing our detailed technical evaluation."

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