Wressle Planning Update

RNS Number : 9474G

Egdon Resources PLC

29 July 2019

 

29 July 2019

EGDON RESOURCES PLC

 ("Egdon" or "the Company")

Wressle Planning Appeal Update

Egdon Resources plc (AIM: EDR) notes the movement in its share price and the speculation surrounding the Wressle Oil Field.  As notified on 29 April 2019, the planning inquiry to hear the Company's appeal against the refusal of planning consent for the development of the Wressle Oil Field by North Lincolnshire Council's Planning Committee is scheduled to commence on 5 November 2019. 

The Company has been advised that following a closed meeting held by North Lincolnshire Council ("NLC") on 17 July 2019, a decision has been made that NLC will not be presenting evidence at the Public Inquiry and will withdraw its case in respect of this appeal subject to the agreement of acceptable planning conditions.

While the Company considers this to be a very positive development, we still need to obtain planning permission via appeal and the Company remains focused on presenting its case for the Wressle development to the independent professional Planning Inspector in November.

For further information please contact:

Egdon Resources plc

Mark Abbott/ Martin Durham                                                          01256 702 292

Buchanan

Ben Romney, Chris Judd                                                                020 7466 5000

Nominated Adviser and Broker - Cantor Fitzgerald Europe                 

David Porter/ Rick Thompson (Corporate Finance)                       020 7894 7000

Caspar Shand Kydd (Sales)

Joint Broker - VSA Capital Limited

Andrew Monk (Corporate Broking)                                                 020 3005 5000

Andrew Raca (Corporate Finance)

Qualified Person Review

In accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, this release has been reviewed by Mark Abbott, Managing Director of Egdon, who is a geoscientist with over 30 years' experience and is a member of the Petroleum Exploration Society of Great Britain and a Fellow of the Geological Society.  Mr Abbott has consented to the inclusion of the technical information in this release in the form and context in which it appears.

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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