Onshore UK Wressle-1 Well Shows 'Encouraging' Results

Onshore UK-focused junior explorer Egdon Resources reported Tuesday that it is "very encouraged" by preliminary results from its Wressle-1 conventional exploration well located to the east of Scunthorpe in northern England.

The Wressle-1 well spud on July 18 and reached a total depth of 7,350 feet on August 23. Egdon has now reported that a preliminary petro-physical evaluation of the log data has indicated the presence of potential hydrocarbon pay in three main intervals.

Egdon found up to 65 feet measured thickness of pay in the Penistone Flags, up to 18.5 feet in the Wingfield Flags and up to 20 feet in the Ashover Grit.

The well is currently being completed with a 4.5-inch liner to enable selective and sequential testing of these intervals as part of an extended well test, for which Egdon said planning consent has already been received. These test operations will determine flow rates, hydrocarbon type and commerciality. They are due to begin, using a work-over rig, in October.

Egdon Managing Director Mark Abbott commented in a company statement:

"We are very encouraged by the preliminary evaluation of Wressle-1 – our first exploration well in the East Midlands Basin – with interpretation of potential hydrocarbon pay of over 30-meters thickness (measured) in three discrete reservoir intervals. Our attention now moves to designing and delivering a testing program for these intervals to determine the potential for a commercial discovery and we look forward to updating shareholders once these operations commence."

David Bramhill, the executive chairman of Union Jack Oil that has a share in the well, added:

"This is the first well of our drilling campaign and the preliminary results are highly encouraging. The interpretation of combined potential hydrocarbon pay over 30 meters is excellent news and I look forward to the testing phase of this project."   

Egdon, the operator of Wressle-1, holds a 25-percent interest in the well. Celtique Energie Petroleum, Europa Oil & Gas and Union Jack Oil hold 33.33-percent, 33.34-percent and 8.33-percent stakes respectively.



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