Egdon Resources agrees farm-in deal for PEDL209 licence

AIM-listed oil and gas producer Egdon Resourceshas agreed terms with Blackland Park Exploration (Blackland Park) and Stelinmatvic Industries (Stelinmatvic) for a farm-in to UK Onshore Petroleum Exploration and Development Licence PEDL209 located in Lincolnshire.

AIM-listed oil and gas producer Egdon Resourceshas agreed terms with Blackland Park Exploration (Blackland Park) and Stelinmatvic Industries (Stelinmatvic) for a farm-in to UK Onshore Petroleum Exploration and Development Licence PEDL209 located in Lincolnshire.

Under the terms of the farm-in agreement, Egdon said that it would earn a 60% interest in the licence in return for paying 100% of the cost of the planned Laughton-1 exploration well to the point of completion of the well for testing or, in the case that the well was a dry hole, abandonment and restoration of the site.

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