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Egdon Resources chief expects 2016 to be key for UK shale gas

Published: 15:34 03 Nov 2015 GMT

Mark Abbott, chief executive of UK-focused oil junior Egdon Resources (LON:EDR), says he expects next year to be a significant twelve months for shale gas in the UK.

Several shale-gas exploration wells are on course to be drilled and tested in the UK in 2016, which Abbott says will, if successful, focus investor attention on the few listed companies active in the UK.

The Gainsborough Trough is a key focus area for Egdon's unconventional exploration unit.

IGas (LON:IGAS), joint venture partner and operator of PEDL139/140, has recently submitted a planning application for the drilling of the first deep exploration well in the basin at Springs Road.

Elsewhere, Egdon will also focus on commercialisation of the Wressle-1 discovery in Lincolnshire, where production is expected to start early in the second half through conventional drilling.

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