Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/egdon-resources-agrees-farm-in-term-for-pedl209.shtmlEgdon Resources agrees farm-in term for PEDL209
Egdon Resources has agreed terms with Blackland Park Exploration Limited (Blackland Park)
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Egdon Resources has agreed terms with Blackland Park Exploration Limited (Blackland Park) and Stelinmatvic Industries Limited (Stelinmatvic) for a farm-in to UK Onshore Petroleum Exploration and Development Licence PEDL209 (the Licence) located in Lincolnshire. Under the terms of the Farm-in Agreement Egdon will 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 is a dry hole, abandonment and restoration of the site. Egdon will also assume operatorship of PEDL209.
The Licence Interests in PEDL209 at completion will be;
Egdon Resources U.K. Limited (Operator) - 60%
Blackland Park Exploration Limited - 28%
Stelinmatvic Industries Limited - 12%
The transfer of interests and operatorship is subject to approval by the Department of Energy and Climate Change.
