Egdon Resources has completed drilling operations at the Burton on the Wolds-1 conventional exploration well in UK Onshore Licence PEDL201 in Leicestershire.
The Burton on the Wolds-1 well, which reached a total depth of 1086m, penetrated thin sands in the primary reservoir objective, the Rempstone Sandstone group.
The company said the deeper secondary objective was encountered as non-reservoir rock.
Egdon acquired electric wireline logs in the well and observed weak hydrocarbon shows through the Rempstone sands.
Egdon Resources UK operates and has a 32.5% interests in Licence PEDL201 and the Burton on the Wolds-1 well.
Celtique Energie Petroleum holds 32.5% stake while and Terrain Energy and Corfe Energy each own 12.5% stakes with the remaining interest held by Union Jack Oil.
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By GlobalDataCommenting on the Burton on the Wolds-1 result, Egdon Resources managing director Mark Abbott said: "Whilst we are naturally disappointed with the results of Burton on the Wolds-1, I am pleased to report that operations to date have been successfully completed with no safety incidents or impact on either the local environment or the local community.
"Egdon recognised that the principal pre-drill risks associated with the Burton on the Wolds prospect were the local development of the Rempstone sands and the presence of reservoir quality rocks at the deeper objective."
The company will utilise the information secured from Burton on the Wolds-1 to identify the remaining prospectivity of the acreage held under licence PEDL201.
Egdon is going ahead with its plans to start flow testing the Wressle-1 well in PEDL180/182 in Lincolnshire.
