Egdon Resources PLC Wressle Planning Decision (9432T)
January 11 2017 - 11:10AM
UK Regulatory
TIDMEDR
RNS Number : 9432T
Egdon Resources PLC
11 January 2017
11th January 2017
EGDON RESOURCES PLC
("Egdon" or "the Company")
Wressle Planning Decision
Egdon Resources plc (AIM:EDR) announces that the North
Lincolnshire County Council's Planning Committee has today refused
planning consent for the development of the Wressle Oil Field at
Lodge Farm, Wressle, North Lincolnshire.
At the same meeting the application for the installation of
groundwater monitoring boreholes was approved.
Mark Abbott Managing Director of Egdon Resources plc, said:
"We are very disappointed by the decision of the Committee that
goes against the positive recommendation of their Planning Officer
which was determined after an extensive and thorough review of our
proposals.
Our business has been operating exploration and production sites
in a safe and environmentally sensitive manner across the region
for many years, engaging with communities, employing local people
and investing in the local supply chain.
We will now take time to consider our options including our
right to bring forward an appeal."
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/
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 43 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFIRLRILLID
(END) Dow Jones Newswires
January 11, 2017 11:10 ET (16:10 GMT)
Egdon Resources (LSE:EDR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Egdon Resources (LSE:EDR)
Historical Stock Chart
From Apr 2023 to Apr 2024