From another site, http://www.lse.co.uk/FinanceNews.asp?share...05_from_Roc_oil
LONDON (AFX) - Egdon Resources PLC, an onshore energy company, said it has agreed to purchase Roc Oil Co Ltd's stake in petroleum exploration and development licence PEDL005 (Remainder), located in Lincolnshire.
The site includes the Keddington oil field and covers an area of 23.57 square kilometres.
The PEDL005 (Remainder) licence is separate from the PEDL005 (Saltfleetby) licence which contains the gas field wholly owned by WINGAS Storage UK Ltd.
The Keddington oil field has two wells, Keddington-1 and Keddington-2 currently out of production due to ongoing tubing and pump problems. Egdon plans to re-complete the Keddington-1 well to optimise production and also to restore free-flowing production from the Keddington-2 well.
ROC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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