StockMarketWire.com - Union Jack Oil notes Egdon Resources has released an encouraging RNS regarding an operational update on the Keddington-5 (KD5) development well. Union Jack holds a 10.00% interest in PEDL005(R).

Egdon's RNS contained the following information:

"Egdon Resources plc (AIM:EDR) is pleased to provide an operational update on the Keddington-5 (KD5) development well. KD5 was spudded on the 20 January 2016 and on 1 February 2016 reached total depth (TD) of 2,433 metres measured depth, (2,201 metres true vertical depth below Ordnance Survey Datum).

"During the course of drilling, elevated gas readings - indicative of the presence of hydrocarbons were recorded from a gross interval of 141 metres, containing 62 metres of net sand.

"KD5 development well has been suspended with a completion string that will enable production flow testing of the reservoir with a traditional beam pump in due course."






Story provided by StockMarketWire.com