Planning approval granted for Kiln Lane Well

RNS Number : 0439V

Egdon Resources PLC

22 October 2014

 

                                                                                                                   22 October 2014

EGDON RESOURCES PLC

("Egdon" or "the Company")

Planning approval granted for Kiln Lane Well, onshore UK (PEDL181)

Egdon Resources plc (AIM:EDR) notes the press release made today by Europa Oil & Gas (Holdings) plc ("Europa") advising the granting of planning consent for the Kiln Lane-1 conventional exploration well in Lincolnshire Licence PEDL181 where Egdon holds a 25% interest. 

Europa as the operator of PEDL181 has today advised that it was "pleased to announce its proposal to drill the Kiln Lane conventional exploration well on licence PEDL 181 in East Lincolnshire has been approved by the Planning Committee at a meeting held today at Grimsby town hall.  The approval is subject to the signing of a Section 106 agreement which is currently being finalised." 

Europa's CEO, Hugh Mackay also stated, "Planning approval is an important step and, subject to the granting of an Environmental Agency permit in a timely manner, we remain on course to commence operations at Kiln Lane by year end.  We are keen to drill a conventional well at Kiln Lane not only because we estimate it holds gross prospective resources of 2.9 mmbo and has a one in three chance of success, but also because it is located on a large undrilled licence. Success would open up a new conventional oil and gas play and in the process de-risk additional leads identified." 

For further information please contact:

Egdon Resources plc

Mark Abbott, Jerry Field                                                                                          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

Richard Redmayne (Corporate Broking)

Joint Broker - VSA Capital Limited

Andrew Monk, (Corporate Broking)                                                                        020 3005 5000

Andrew Raca (Corporate Finance)

Notes to Editors:

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 and France. 

Egdon currently holds interests in thirty six 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.

Evaluation of Prospective Resources has been assessed in accordance with 2007 Petroleum Resources Management System prepared by the Oil and Gas Reserves Committee of the Society of Petroleum Engineers (SPE) and reviewed and jointly sponsored by the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Evaluation Engineers (SPEE).

 

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