Egdon Resources PLC Wressle Planning Decision (9675J)
04 July 2017 - 12:29AM
UK Regulatory
TIDMEDR
RNS Number : 9675J
Egdon Resources PLC
03 July 2017
3 July 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 again
refused planning consent for the development of the Wressle Oil
Field at Lodge Farm, Wressle, North Lincolnshire.
Mark Abbott Managing Director of Egdon Resources plc, said:
"We are very disappointed by the decision of the Committee that
again goes against the positive recommendation of their Planning
Officer which was determined after an extensive and thorough review
of our proposals which included more detailed information to
address the specific concerns outlined by North Lincolnshire
Council in their refusal of the original application on 11 January
2017.
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 forward our appeal against the original 11
January 2017 determination which is due to be heard in November
2017."
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/
Wressle Planning history
On 11 January 2017 North Lincolnshire County Council refused
planning consent for the original application for the development
of the Wressle Oil Field at Lodge Farm, Wressle, North
Lincolnshire.
On 7 February 2017 Egdon announced that it would both appeal the
decision of 11 January 2017 and in parallel submit a new Planning
Application for the Wressle development which would include even
more detailed information to address the specific concerns outlined
by North Lincolnshire Council in their refusal.
On 11 April 2017, Egdon submitted an appeal against North
Lincolnshire County Council's decision to refuse planning
consent.
On 28 April 2017 Egdon submitted a new application for the
Wressle Development including additional detailed information to
address the specific concerns raised by North Lincolnshire County
Council in its 11 January 2017 decision to refuse the original
application for the development of the Wressle Oil Field.
Egdon believe that this dual track approach provided the best
opportunity for a successful planning outcome with the minimum
delay.
On 19 May 2017 Egdon announced the issue by the Environment
Agency of the variation to the Mining Waste Permit for the planned
Wressle field development and associated operations.
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 44 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.
Evaluation of hydrocarbon volumes 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).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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