Egdon Resources plc (AIM:EDR) is pleased to announce that it has reached agreement on Heads of Terms in respect of a farm-out of interests in PEDL253 to Union Jack Oil PLC (“UJO”, AIM: UJO) and Humber Oil & Gas Limited (“Humber”,private). PEDL253 is located in Lincolnshire and contains the Biscathorpe Prospect, scheduled for drilling around mid-2018.

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Egdon notes that the operator Europa Oil & Gas (Holdings) plc, made the following RNS Reach announcement on 19 February 2018 concerning the Holmwood Exploration well where Egdon has an 18.4% carried interest:

“Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to note a draft decision advertisement issued by the Environment Agency on 15 February (http://bit.ly/2C3rPDh ) that it is inclined to award a bespoke environmental permit for drilling and testing the Holmwood exploration well in PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. Further information can be found on the Environment Agency website http://bit.ly/2Eu00ph.

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Egdon Resources plc (AIM:EDR) can advise the forward plan for the Wressle oil field development following the decision made by the Planning Inspector issued on 4 January 2018, to reject the appeals by Egdon against the two planning refusals by North Lincolnshire Council’s Planning Committee. (Read more…)

Egdon Resources plc (AIM:EDR) can advise that the Planning Inspectorate has issued its decision in respect of the Wressle Planning Inquiry. The decision made by the Inspector is to reject the appeals by Egdon against the two planning refusals by North Lincolnshire County Council’s Planning Committee in respect of the development of the Wressle oil discovery in licences PEDL180 and PEDL182.

However, the Planning Inspectorate has advised that it did uphold Egdon’s appeal against the decision to refuse the application to retain the existing planning for the well site, which is now retained until the 28 April 2018.

Mark Abbott Managing Director of Egdon Resources plc, said:

“The decision of the Planning Inspectorate is clearly highly disappointing given the strong case presented at the inquiry, the previous positive recommendations of North Lincolnshire County Council’s Planning Officer in respect of the applications and the issue of an Environmental Permit for the proposed development which was determined after an extensive and thorough review of our proposals.

The Planning Inspectorate’s decision to uphold our appeal for the extension of the original Wressle exploration well planning consent gives us some time to consider our next steps.

We will now take the opportunity to consider in detail the reasons for the refusals as contained in the decision notice and review the options available to us. We will provide a further update in the next few days.”