Egdon is offering material equity and operatorship for a promoted share of an agreed work programme in licences P1929 and P2304 which contains the Resolution discovery. Likely terms are a negotiated carry on 3D programme to earn an option on participation in a future appraisal well. As of September 2018, the opportunity was still available.   Resolution is a dip and fault closed structure defined on reprocessed 2D seismic. Resolution will be appraised with an offshore well because the well cost is comparable with an onshore to offshore well and has a lower delivery risk. Egdon will develop Resolution via offshore well head platformed linked via pipeline to an onshore gas processing facility. Offshore 3D acquisition is planned to take place over licences P1929 and P2304 in 2018/19 to optimise the appraisal drilling programme. The survey will also assist in quantifying the Carboniferous potential within and around the Resolution discovery. Mean prospective resources are estimated at 337 Bcfg (c. 56 MMboe). The main risk is thought to be the ability to produce gas from relatively tight carbonate.   Total drilled well 41/18-2 in block 41/18 in 1966 and made a gas discovery which flowed 2.5 MMcf/d from Permian Hauptdolomit fractured carbonates.  Interest in licences P1929 and P2304 is held solely by Egdon Resources UK Ltd.    For further details please contact:    Martin Durham    Email: Martin.Durham@egdon-resources.com
United Kingdom, P2304