Good news for Egdon Resources from the Springs Road project operated by IGas.
The share price rose 1p to 7.75p.
Egdon has a 14.5% carried interest in Springs Road and gas has been recovered from pressurised cores. Further analysis is expected in the second quarter of 2019.
Egdon’s producing assets produced 30,026 barrels of oil equivalent in the six months to January 2019, up from 17,962 boe in the same period of last year. The production rate increased to 238 boe per day during January.
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