Inactive Instrument

Egdon Resources plc

Equities

EDR

GB00B28YML29

Oil & Gas Exploration and Production

Egdon Resources says court approves acquisition by Petrichor

September 12, 2023 at 02:58 pm EDT

Egdon Resources PLC - Reading-based oil and gas explorer and producer - Says that at the court sanction hearing held on Tuesday, the High Court of Justice of England & Wales issued a court order sanctioning the scheme, by which Petrichor Partners LP will buy the entire issued, and to be issued, ordinary share capital of Egdon.

On May 17, Egdon said it had agreed to the all-cash takeover by Petrichor, a wholly-owned subsidiary of Dallas-based Heyco Energy Group Inc. The deal values Egdon at about GBP26.6 million, with shareholders set to receive 4.5 pence per share.

The scheme is expected to become effective on September 14. The last day of dealings in Egdon shares will be Wednesday, before they are cancelled on Thursday.

Current stock price: 4.50 pence, up 0.5% on Tuesday

12-month change: down 39%

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	BRENT CRUDE OIL SPOT	88.07 USD	+0.10%	+1.75%	-
	WTI	83.53 USD	0.00%	+1.68%	-

Latest news about Egdon Resources plc

United Oil & Gas' Waddock Cross License in UK Granted Five-year Extension	Apr. 02	MT
United Oil & Gas plc Announces Waddock Cross Licence Extension with Egdon Resources plc	Apr. 02	CI
Egdon Resources plc Reports Earnings Results for the Full Year Ended July 31, 2023	Nov. 01	CI
Europa Oil & Gas, Union Jack Oil say Wressle work complete	23-10-18	AN
Egdon Resources Delists from London Bourse	23-09-18	MT
Egdon says Petrichor takeover now effective; shares suspended on AIM	23-09-15	AN
Petrichor Partners LP completed the acquisition of remaining 56% stake in Egdon Resources plc (AIM:EDR ) from group of sellers and others.	23-09-14	CI
Egdon Resources says court approves acquisition by Petrichor	23-09-12	AN
Avation enters new lease for Airbus A320 with Cebu	23-09-11	AN
RA International loss narrows as revenue grows	23-09-07	AN
Egdon Resources Finalizes Farm-In Deal for PL081, PEDL347 Licenses with York, Cuadrilla	23-09-07	MT
York Energy (UK) Holdings Limited and Cuadrilla North Cleveland Limited Execute A Fully Termed Agreement to Enable A Farm-In and Equalisation of Interests Between the PL81 and PEDL347	23-09-07	CI
Egdon Resources plc Announces Farm-In and Equalisation of Interests - PL81 and PEDL347	23-09-07	CI
Infrastructure India extends maturity dates on debt	23-08-31	AN
Egdon Resources plc Announces Wressle Update	23-08-31	CI
Egdon Resources inches closer to acquisition by Petrichor Partners	23-08-29	AN
Petrichor Partners Meets North Sea Transition Authority Condition in Egdon Deal	23-08-29	MT
Egdon Resources exercises UK North Sea farm-in option with York Energy	23-08-07	AN
Egdon Resources Exercises Farm-in Option, Enters Deal to Secure Stake in Weaverthorpe Prospect Licenses	23-08-07	MT
Egdon, Europa and Union Jack say Wressle well producing water	23-08-03	AN
Barryroe hires examiner in bid to avoid liquidation	23-07-31	AN
Egdon Resources plc Announces Change to Accounting Period	23-07-31	CI
Jardine Matheson net assets rise, Oberon loss widens	23-07-28	AN
Europa Oil & Gas Assumes Operations of PEDL343 License	23-07-28	MT
Egdon Resources plc Announces Transfer of Operatorship of licence PEDL343 from Egdon Resources U.K. Limited to Europa Oil & Gas plc	23-07-28	CI

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Company Profile

Egdon Resources plc is a United Kingdom-based independent onshore focused oil and gas exploration and production company. The Company is engaged in developing energy storage, hydrogen and renewable energy projects. It also has a portfolio of licenses relating to unconventional oil and gas resources. It manages all aspects of conventional oil and gas activity, from seismic surveying, building sites, drilling exploration wells, testing and long-term production through to decommissioning and restoring sites to their former use. Its production and development assets include Wressle (PEDL180/182), Ceres (P1241), Keddington (PEDL005R) and Fiskerton Airfield (EXL294). Its key projects include Biscathorpe (PEDL253), North Kelsey (PEDL241), Resolution and Endeavour (P1929 and P2304) and Cloughton (PEDL343). The Company is also reviewing and progressing a number of opportunities for energy storage, hydrogen and renewable generation.

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Oil & Gas Exploration and Production

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