EnCore holds 39,200,000 ordinary shares in AIM listed Egdon Resources plc (LSE: EDR), a focused onshore oil and gas exploration and production company. This holding currently respresents approximately 29.998 per cent of Egdon's share capital (as at 28 July 2010).  Alan Booth, EnCore's Chief Executive Officer was appointed a Non-executive Director of Egdon Resources on 28 July 2010.

The equity interest in Egdon came about following the sale of EnCore's portfolio of onshore UK and onshore France assets along with EnCore's interest in the Ceres gas field offshore UK. In return for the transfer of these assets, EnCore recieved 39,200,000 ordinary shares in Egdon on 28 July 2010 upon completion of the sale of the onshore UK assets and Ceres, and will recieve £100,000 in cash upon completion of the sale of the onshore France assets, expected to happen later in 2010. 

EnCore originally acquired its onshore portfolio as part of its reverse takeover of Oil Quest Resources plc in 2006.

Further information about the full details of the sale of the onshore assets by EnCore to Egdon can be found in the press releases listed below. For further information about Egdon Resources, please see their website www.egdon-resources.com

Please see below for announcements relating to the transaction with Egdon Resources:

28 July 2010 - Completion of Sale of Assets to Egdon Resources

22 March 2010 - Sale of Assets to Egdon Resources

23 September 2009 - Potential Asset Divestment