Excitement mounting East of Scunthorpe
Three AIM Oil & Gas Explorers hoping for drilling success
News is expected any day now on the results from the drilling of the “Wressle-1” well in North Lincolnshire. These operations are targeting a 2.1 million barrel oil prospect at Wressle which is about three miles to the East of Scunthorpe.
It is unlikely that Scunthorpe is going to become the new Dallas because Lincolnshire oil discoveries to date have been quite modest. However, there are a number of successful commercial operations in Lincolnshire in what is known as the East Midlands Petroleum Province. Drilling at Wressle commenced on 19th July and the operator, AIM-listed Egdon Resources, estimated that drilling operations would take 38 days to complete with results expected to be known “towards the end of August”. Three AIM-listed companies have an interest in this well which is being drilled in Licence PEDL 180: Egdon Resources (EDR) which has a…