Egdon Resources has confirmed that the Oil & Gas Authority has formally issued the company with nine new Petroleum Exploration and Development Licences from the UK 14th Onshore Oil and Gas Licensing Round as previously advised.
The new licences, covering a total of 18 UK National Grid blocks and part blocks with a total area of approximately 1,141 square kilometres (281,979 acres), were originally offered in two tranches in 2015.
The licences are located in the East Midlands Petroleum Province and the Cleveland Basin and expand the company's acreage and opportunity base within these two core areas providing a mix of new conventional and unconventional resource opportunities.
Managing director Mark Abbott said: "We are pleased to be formally issued with these new licences that were initially offered to the Company in August and December 2015. The award of the licences strengthens Egdon's position in two of our core areas, the East Midlands and Cleveland Basins, and we can now look forward to progressing with the detailed evaluation of the blocks."