Egdon Resources advise that at today's Planning and Regulation Committee Meeting of Lincolnshire County Council, planning consent was granted for the drilling and any subsequent testing of the Biscathorpe-2 exploration well in Lincolnshire licence PEDL253.
The Biscathorpe Prospect is located on farmland to the west of the hamlet of Biscathorpe, approximately 15 kilometres to the west of the Keddington oil field and approximately 36 kilometres to the south-east of the Wressle-1 discovery currently being tested by Egdon in PEDL180.
The Biscathorpe Prospect is a large anticlinal structure mapped on reprocessed 3D seismic data. Oil was discovered but not tested in a thin Basal Westphalian/Namurian Sandstone unit in the Biscathorpe-1 well drilled by BP in 1987 on the crest of the structure. The sand unit is predicted to thicken away from the crest of the structure and there is also potential for stratigraphic trapping in the west which if present could increase the expected total prospective reserves from an Egdon assessed Best Estimate case of 14 mmbls up to a High case of 41 mmbls. The same sand unit is the producing reservoir in the Egdon operated Keddington oil field.