Yorkshire Exploration is a private company owned and controlled by John Rix, who was a non-executive director of Egdon until late 2011.
Egdon operates the PEDL068 license with 40% stake.
The license features the Kirkleatham gas field which is shut-in pending the potential drilling of a side-track well to target an undrained part of the field up-dip from the existing producer well.
Additional features include Westerdale/Ralph Cross gas discovery where planning approval is in place for an appraisal well, with drilling expected to start in 2015/2016.
Egdon Resources managing director Mark Abbott said: "We are pleased to have completed this acquisition which adds to our existing interest in PEDL068 and adds incremental conventional resources and other prospectivity to the Company."
Till date, PEDL068 exploration has focused on conventional Permian age carbonate gas plays but the license is also expected to have other conventional and unconventional prospectivity.
Sterling Resources (UK) and Montrose Industries hold 47% and 5% interests in PEDL068 licence.
