Egdon announcement: http://www.investegate.co.uk/article.aspx?id=200909230700154916Z&fe=1
The assets to be acquired would comprise of EnCore's entire interest in 10 onshore UK licences, 2 onshore French licences and an interest in the Ceres gas field on the UKCS.
The consideration, which will be satisfied in Egdon Ordinary Shares, will be finalised as part of the contract negotiations and the transaction will be structured so that on completion EnCore's ownership will not exceed 29.9% of the enlarged share capital.
Egdon market cap currently £9.4m, so that puts a cap on the Encore shareholders valuation at c £4m
The only overlap between the two company's portfolios is in the Kirkleathem asset, where both have 20%.