Source - SMW
Egdon Resources has sold a 20% interest in the recently-acquired producing Fiskerton Airfield oil field in Lincolnshireto Union Jack Oil for around £137,000. 

In addition, Union Jack will wholly fund re-processing of the 3D seismic dataset at a gross cost of £35,000.  

Egdon said the combined consideration and carry was equivalent to approximately £165,000.

Egdon said the effective date of the agreement was 3 Nov  and Union Jack would receive 20% of all production revenues from Fiskerton from that date. 

Completion of the acquisition is subject to Oil and Gas Authority approval.

Following completion, Egdon will hold an 80% interest.




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