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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Egdon Resources Plc    EDR   GB00B28YML29

EGDON RESOURCES PLC

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Delayed Quote. Delayed London Stock Exchange - 02/20 02:59:59 am
7.9 GBp   -1.25%
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Egdon Resources : Biscathorpe Update

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12/07/2018 | 09:40am EST

At today's Egdon Resources plc (AIM: EDR) Annual General Meeting a new company presentation will be given ('AGM Presentation') containing updates and further detail of the Biscathorpe-2 well.

Of note are: Following completion of site construction - expected in early December 2018 - we will mobilise a conductor rig to set surface casing (the conductor).

We expect to mobilise the drilling rig immediately in early January 2019 with well completion expected in mid-February 2019.

The AGM Presentation includes further details on the Biscathorpe Prospect including the estimated range of Prospective Resources, a cross section and a comparison with the geology of the Reepham field some 20km south west of Biscathorpe, just to the west of our Fiskerton Airfield producing oil field.

At the Reepham oilfield, the Basal Westphalian sandstone reservoir thickens dramatically off a 'structural high' over a very short distance and a similar development of the target reservoir is expected at Biscathorpe-2.

Mark Abbott, Managing Director of Egdon Resources plc, said: 'We look forward to spudding the exciting and potentially significant Biscathorpe-2 well early in the new year into one of the largest remaining undrilled onshore UK oil prospects where stratigraphic trapping - if present - could lead to significant upside for oil resources'

Contact:

Tel: 01256 702292

(C) 2018 Electronic News Publishing, source ENP Newswire

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Financials (GBP)
Sales 2019 2,93 M
EBIT 2019 -0,17 M
Net income 2019 -0,58 M
Finance 2019 0,60 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
EV / Sales 2019 6,89x
EV / Sales 2020 4,53x
Capitalization 20,8 M
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Number of Analysts 2
Average target price 0,37  GBP
Spread / Average Target 363%
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Managers
NameTitle
Mark Anthony William Abbott Managing Director & Director
Philip Henry Peter Stephens Non-Executive Chairman
Martin Durham Director & Technical Director
Walter Rookehurst Roberts Secretary & Non-Executive Director
Kenneth Maurice Ratcliff Non-Executive Director
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