Egdon Resources has advised that planning permission has been granted to its wholly owned subsidiary Egdon Resources U.K. Limited for the drilling of an exploratory well at the Company's Eakring-Dukes Wood oil field rejuvenation project in Nottinghamshire.
Nottinghamshire County Council granted permission on October 10, 2008 for the drilling at Whip Ridding Farm. The well will be drilled directionally to a planned measured depth of around 800 meters to test the crestal part of the Dukes Wood anticline in an area where Egdon have identified potential for undrained oil and re-migrated oil. The primary target for the well will be the Ashover Grit reservoir interval with secondary reservoir objectives in the Sub-Alton Crawshaw, Loxley Edge Rock and Wingfield Flags.
Further details of the well and its objectives will be provided once drilling operations commence later in 2008.
Commenting on the grant of planning permission, Mark Abbott, Managing Director of Egdon, said, "This planning permission enables us to move forward with our evaluation of the rejuvenation potential of the Eakring-Dukes Wood oil field where we see low risk opportunities to add production and reserves to our near term asset base. We are encouraged that this application did not receive any objections and are now satisfying the planning conditions and preparing to drill this well."
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