Egdon disappointed by Burton on the Wolds-1 exploration well

Egdon disappointed by Burton on the Wolds-1 exploration well 

ODIHAM, England -- Egdon Resources has announced the completion of drilling operations at the Burton on the Wolds-1 conventional exploration well in UK Onshore License PEDL201 in Leicestershire. The well was dry.

The Burton on the Wolds-1 well was spudded on Oct. 18 and reached a total depth of 1,086 m on Oct. 28. 

The well penetrated only thin sands in the primary reservoir objective, the Rempstone Sandstone group, while the deeper secondary objective was encountered as non-reservoir rock.

Electric wireline logs have now been acquired in the well. Although, weak hydrocarbon shows were observed while drilling through the Rempstone sands, interpretation of the log data indicates the thin sands to be water bearing.

The well is currently being plugged before the drilling rig is released from contract and, in due course, the well-site will be restored to its original condition as agricultural land.

The interests in license PEDL201 and the Burton on the Wolds-1 well are Egdon (operator) and Celtique Energie Petroleum with 32.50% each;  Terrain Energy and Corfe Energy with 12.50% each; and Union Jack Oil with 10.00%.

Mark Abbott, MD of Egdon said, "Egdon will now use information gained from Burton on the Wolds-1 to evaluate the remaining prospectivity of the acreage held under license PEDL201. In the meantime Egdon is progressing its plans to commence flow testing the Wressle-1 well in PEDL180/182 in Lincolnshire and we will update shareholders with results of this in due course.”