Egdon Resources Plc, the onshore UK focused energy company today provides an update on results from the Burton Agnes-1 Exploration well on the Egdon operated licence PEDL071 located in East Yorkshire where the Company holds a 25% interest.
The Burton Agnes-1 well reached a TD of 2290 metres measured depth, 1982 m sub datum vertical depth on 17 December 2007. Gas shows were observed in the Leman Sandstone and fractures within carbonates of the overlying Zechstein sequence. Petrophysical analysis of the wireline log data has indicated that the primary reservoir target, the Leman Sandstone, was water wet. The Leman Sandstone was penetrated deep to prognosis due to a thicker than predicted Zechstein section in the well which was drilled on the north eastern margin of the prospect.
The gas zones within the Zechstein were not considered worth testing. As such the well is currently being suspended whilst the results of the well are incorporated into the structural and geological model for the Fraisthorpe Prospect to determine if a structurally elevated target can be reached from the current well site. Egdon’s costs for the well have been carried.
Commenting on the results of the well, Mark Abbott, Joint Managing Director of Egdon said
“Whilst we are disappointed that the primary target was water bearing this the first well on the Fraisthorpe Prospect has confirmed the presence of thick, good quality Leman sandstone reservoir and a viable petroleum system. The well has shown the area to be more complex than our pre-drill view and we remain encouraged by the potential for the area. As such we have made the decision to suspend the well to provide the option to sidetrack to a more elevated part of the structure once our post-well evaluation is completed.”
The co-venturers in the PEDL 071 licence are as follows:
Egdon Resources Plc (Operator): 25.0%
Sterling Resources (UK) Limited: 20.0%
Gas Plus E&P UK Limited: 17.5%
Gas Plus O&G UK Limited: 17.5%
Granby Enterprises Limited: 10.0%
Montrose Industries Limited: 10.0%
