Edinburgh Says Buzzard Field Progressing on Schedule

Buzzard Field, North Sea
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At the company's Annual General Meeting, Colin Ross, Chairman of Edinburgh Oil & Gas said the development of the Buzzard oilfield is progressing on schedule and within budget and the target for first oil production remains the end of third quarter 2006.

'Our UK offshore exploration program in 2004 will continue with a well on block 20/1 (North), which is planned for the fourth quarter of this year. Seismic acquisition recently took place on Central North Sea block 38/5 which is operated by Tullow Oil UK Limited and in which the Company has a 10 percent working interest. The Company intends to apply for additional exploration acreage in the current 22nd Round of UK Offshore Licensing.

'Onshore UK we anticipate signing Heads of Agreement for a gas sales contract for the Hem Heath coal mine methane project in North Staffordshire. A development plan has been submitted to the Department of Trade and Industry and subject to planning consent we are aiming to commence the project by the end of the third quarter this year.'

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