March 13, 2009
The Directors of Egdon Resources plc are pleased to announce that the company has reached agreement to acquire the entire issued share capital of YCI Resources Limited (“YCIR”) from the Heyco Energy Group (“Heyco”).
YCIR is a UK registered private company whose principal asset is a 16.667% interest in PEDL070, which contains the Avington oil field and is located in the Weald Basin of Southern England. YCIR also has a 33.334% interest in adjacent licence PEDL069 which Egdon maps as containing a possible northerly extension to the Avington field. This transaction will increase Egdon’s interests to 36.667% in PEDL070 and to 66.667% in PEDL069.