Favourable Holmwood Court of Appeal Decision

RNS Number : 0443K

Egdon Resources PLC

19 June 2014

 



19 June 2014

EGDON RESOURCES PLC

("Egdon" or "the Company")

Favourable Holmwood Court of Appeal Decision

Egdon Resources plc (AIM:EDR) notes the announcement made today by Europa Oil & Gas (Holdings) plc ("Europa"), the operator of PEDL143, regarding the Court of Appeal decision in relation to the Holmwood prospect.

Europa has advised that the Court of Appeal has today dismissed an appeal by the Leith Hill Action Group against the High Court judgment in Europa's favour, in relation to the drilling of an exploratory well at the Holmwood prospect ('Holmwood') in the PEDL143 licence in the Weald Basin, Surrey.  Egdon holds a 38.4% interest in PEDL143.

As a result of the Court of Appeal's ruling, the High Court judgment of 25 July 2013, is upheld.  Europa's appeal against Surrey County Council's refusal to grant planning permission to drill one exploratory borehole and undertake a short term test for conventional hydrocarbons at the Holmwood prospect will therefore be remitted to the Planning Inspectorate for redetermination.  This may involve a further planning inquiry. 

For further information please contact:

Egdon Resources plc Mark Abbott, Jerry Field	01256 702292
Buchanan Richard Darby, Anna Michniewicz	020 7466 5000
Nominated Adviser and Broker - Cantor Fitzgerald Europe David Porter, Tom Sheldon (Corporate Finance) Richard Redmayne (Corporate Broking)	020 7894 7000
Joint Broker - VSA Capital Limited Andrew Monk, (Corporate Broking) Andrew Raca (Corporate Finance)	020 3005 5000

Notes to Editors:

Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company primarily focused on onshore exploration and production in the hydrocarbon-producing basins of the UK and France. 

Egdon holds interests in thirty seven licences in the UK and France and has an active programme of exploration, appraisal and development within its balanced portfolio of oil and gas assets.  Egdon is an approved operator in both the UK and France.

Egdon was formed in 1997 and listed on AIM in December 2004.

 

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