Egdon Resources has completed the acquisition of the entire issued share capital of Dorset Exploration Limited (DEL). DEL is a private company which holds 10% interests in Production Licence PL090 and Petroleum Exploration and Production Licence PEDL237, both located in the county of Dorset. Egdon Resources U.K. Limited is operator for both these Licences with a 45% interest in each.

As consideration for the Acquisition, Egdon has today issued 1,223,242 Ordinary Shares ("the Consideration Shares") to the previous shareholders of DEL which include Mr. John Rix who was a non-executive Director of Egdon until his retirement from the Board in late 2011.

The issued shares represent 0.93 per cent. of the enlarged share capital of the Company. Application has been made for admission of the Consideration Shares to trading on AIM, which is expected to become effective on 3 August 2012.

The total number of Egdon Ordinary Shares in issue is now 132,192,336. Therefore, the total number of voting rights in the Company is 132,192,336. .

Tags: Egdon Resources Plc