Wressle Planning Meeting

RNS Number : 6403J

Egdon Resources PLC

30 June 2017

 

30 June 2017

EGDON RESOURCES PLC

("Egdon" or "the Company")

Wressle Planning Meeting

Egdon Resources plc (AIM:EDR) notes that North Lincolnshire County Council's Planning Committee will meet on Monday 3 July 2017 to determine the new planning application for the Wressle Development which includes additional detailed information to address the specific concerns raised by North Lincolnshire County Council in its 11 January 2017 decision to refuse the original application.

The new application has received a recommendation for approval from North Lincolnshire County Council's Planning Department.

The meeting will be held at 2pm Monday 3 July 2017 at North Lincolnshire Council Civic Centre in Scunthorpe.

We will update shareholders of any developments from this meeting.

For further information please contact:

Egdon Resources plc

Mark Abbott                                                                               01256 702 292

Buchanan

Richard Darby, Anna Michniewicz                                                020 7466 5000

Nominated Adviser and Broker - Cantor Fitzgerald Europe

David Porter, Sarah Wharry (Corporate Finance)                           020 7894 7000

Mark Westcott (Sales)

Joint Broker - VSA Capital Limited

Andrew Monk (Corporate Broking)                                               020 3005 5000

Andrew Raca (Corporate Finance)

Notes to Editors:

Wressle

The Wressle-1 well was drilled in 2014 and tested in 2015. The Wressle-1 well has flowed oil and gas from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags.  This totalled 710 barrels of oil equivalent per day from all zones.  In September 2016 a Competent Person's Report made independent estimates of Reserves and Contingent and Prospective oil and gas Resources for the Wressle discovery of 2.15 million stock tank barrels classified as discovered (2P+2C).  Further information can be found at our Wressle Oil and Gas Discovery page http://www.egdon-resources.com/home/project-sites/wressle/ 

Wressle Planning history

On 11 January 2017 North Lincolnshire County Council refused planning consent for the original application for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.

On 7 February 2017 Egdon announced that it would both appeal the decision of 11 January 2017 and in parallel submit a new Planning Application for the Wressle development which would include even more detailed information to address the specific concerns outlined by North Lincolnshire Council in their refusal.

On 11 April 2017, Egdon submitted an appeal against North Lincolnshire County Council's decision to refuse planning consent.

On 28 April 2017 Egdon submitted a new application for the Wressle Development including additional detailed information to address the specific concerns raised by North Lincolnshire County Council in its 11 January 2017 decision to refuse the original application for the development of the Wressle Oil Field.

Egdon believe that this dual track approach provides the best opportunity for a successful planning outcome with the minimum delay.

On 19 May 2017 Egdon announced the issue by the Environment Agency of the variation to the Mining Waste Permit for the planned Wressle field development and associated operations.

Egdon Resources plc

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. 

Egdon holds interests in 44 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.

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained in this announcement has been reviewed and signed off by the Managing Director of Egdon Resources plc Mark Abbott, a Geoscientist with over 26 years' experience.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

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