Egdon Resources plc (AIM:EDR) notes the following

• The press release made today by Infinis Energy Services (“Infinis”) (100% owner of Alkane Energy Limited (“Alkane”) confirming the completion of its sale to Petrichor Holdings Coöperatief U.A (“Petrichor”) of 35,870,487 Egdon Ordinary Shares held by Alkane (representing 13.797 per cent. of the issued share capital of the Company) and the placing by VSA Capital (“VSA”) to an institutional investor of a further 4,129,513 Ordinary Shares (representing 1.588 per cent of the issued share capital of the Company);
• The effective price of the transactions was 12.8 pence per ordinary share (representing a 22% premium over the Company’s closing mid-price of 10.5 pence per share on 25 July 2018);
• The TR-1 Notification filed by Infinis confirming it no longer holds an interest in the Company; and

• The TR-1 Notification filed by Petrichor confirming it has acquired further shares in Egdon raising its interest to 29.99 per cent (77,969,448 Ordinary Shares).

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Egdon Resources plc (AIM:EDR) notes the following announcement made today by Europa Oil and Gas (Holdings) plc the operator of the Holmwood Licence PEDL143:

“Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to provide a planning update regarding the Holmwood conventional oil exploration prospect in the Weald Basin (‘Holmwood’) on Licence PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey.   Europa Oil & Gas Limited is operator of PEDL 143 in which it holds a 20% interest. (Read more…)

Egdon Resources plc (AIM:EDR) is pleased to announce the submission to North Lincolnshire Council (NLC) of a new planning application (the Application) for the development of the Wressle oil field, which the Company believes comprehensively addresses the reasons for the refusal of the original planning applications and the subsequent appeals.

The Application is supported by a detailed planning and sustainability statement, a suite of technical drawings showing construction and layout details and updated and new technical assessments.

The Company believes that the Application takes full account of the key findings of the Planning Inspector’s decision to dismiss the Company’s appeals as set out in his decision letter of 4 January 2018, which identified three key issues in his decision; the absence of a ground conditions survey report; the absence of sufficient evidence on the adequacy of the Geosynthetic Clay Liner (GCL) covering; and uncertainty with regards to the near surface geology and specifically the presence of capping layers to the underlying aquifers. (Read more…)

Egdon Resources plc (AIM:EDR) is pleased to announce the acquisition of an additional 5% interest in PEDL180 and PEDL182, which contain the Egdon operated Wressle oil discovery and Broughton North Prospect, from Celtique Energie Petroleum Limited.

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Egdon Resources welcomes the Government’s support and commitment to our industry as laid out in the Written Ministerial Statement (“WMS”) of today from the Department of Business, Energy and Industrial Strategy (BEIS) and the Department for Housing, Communities and Local Government .(DHCLG).

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