# Egdon Resources transfer of operatorship of licence PEDL343

- Link: https://www.directorstalkinterviews.com/egdon-resources-transfer-of-operatorship-of-licence-pedl343/4121124324
- Published: 2023-07-28T07:05:58+01:00
- Author: Madison Wilson

**[Egdon](https://www.directorstalkinterviews.com/company/egdon-resources-plc/edr.l)
Resources plc** ([LON:EDR](https://www.directorstalkinterviews.com/company/egdon-resources-plc/edr.l))
the UK Energy Company has advised that the North Sea Transition Authority has approved
the transfer of operatorship of licence PEDL343 from Egdon Resources U.K. Limited
to Europa Oil & Gas (Holdings) plc.  The transfer is part of a process of ensuring
that Egdon prioritises core projects whilst ensuring other potentially high value
opportunities are progressed at pace.

We also note the release made today by Europa in relation to this which states the
following;

_“__Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and
gas exploration, development, and production company, is pleased to announce that
it has assumed operatorship of licence PEDL343, which holds the Cloughton gas discovery._

_Operatorship of the licence was transferred from Egdon Resources U.K. Limited (“
Egdon”) to Europa and approved by the North Sea Transition Authority, the industry
regulator, with effect from 27 July 2023. The partners in PEDL343 are Europa (40
per cent), Egdon (40 per cent) and Petrichor (20 per cent)._

_The Cloughton field was discovered in 1986 and encountered gas throughout the Carboniferous
section. The well tested at rates of up to 40,000 scf/day on natural flow, however
with the right completion and production optimisation techniques, the Company believes
that a well could flow at 6 mmscf/day. The gas is good quality sweet gas with >98%
methane and ethane._

_The discovery well encountered 60 metres of Carboniferous net sandstone reservoir
with high gas saturations. Given the large areal closure and net sand present within
the well there is a large volume of gas in place that has already been discovered.
Cloughton is therefore a gas appraisal opportunity with the critical challenge being
to obtain commercial flowrates from future production testing operations. A location
for an appraisal well pad has been identified and following successful testing operations,
the field would be monetised by connecting to the nearby gas grid. Such developments
remain subject to securing necessary permits and approvals.”_

> **Commenting** **Mark Abbott, Managing Director of Egdon Resources, said;**
> _“__This transfer of operatorship allows Egdon to maintain a clear focus on our
> near-term priority projects whilst also enabling Europa to apply its resources
> to progressing the Cloughton prospect to potential appraisal drilling operations
> as quickly as possible.”_

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