It was confirmed in mid-February 2020 that Egdon Resources has completed the acquisition of a further 20% interest from Terrain Energy in PEDL 005 (block TF38b â Louth) onshore UK. The acreage contains the Louth prospect which Egdon is looking to farm down and potentially drill an exploration well later in 2020 or 2021.   Back in October 2016 Union Jack Oil Plc farmed into PEDL 339 taking a 10% interest in the licence from Egdon. In return, Union Jack will pay 20% of the exploration well costs for Louth-1. The prospect is located partly in PEDL 339 and partly in PEDL 005(R) in which Union Jack took a 10% interest back in 2015. Interest in block TF38b - Louth and PEDL 339 are now equal.  Interest in PEDL 005, block TF38b - Louth is held by Egdon Resources Plc (65% + operator), Terrain Energy Limited (15%) and Union Jack Oil Plc (10%).
Egdon Resources (->85% op, Union Jack 15%) has completed the acquisition of a further 20% interest from Terrain Energy in PEDL 005 (block TF38b â Louth).