Egdon Resources PLC Holmwood Update (5030V)
24 July 2018 - 4:00PM
UK Regulatory
TIDMEDR
RNS Number : 5030V
Egdon Resources PLC
24 July 2018
24 July 2018
EGDON RESOURCES PLC
("Egdon" or "the Company")
Planning Update for Holmwood Exploration Well in the Weald
Basin
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.
Europa will today submit a planning application
to Surrey County Council seeking a Variation of
conditions 3 and 19 (i) of Appeal Decision APP/YB3600/A/11/2166561,
to extend the temporary period of the permission
for the well site by a further 3 years and to remove
the requirement for the scheme to include an identified
HGV holding area. It has also applied today for
two other associated planning applications - for
the underground drilling corridor and for the temporary
security fence, which is to be erected around the
well site.
Europa also confirms that the Oil and Gas Authority
has extended the Initial Term of Licence for PEDL
143 until 30 September 2020.
The Environment Agency granted a mining waste permit
number EPR/YP3735YK on 23 July 2018. The permit
authorises the management of extractive wastes not
involving a waste facility to allow the drilling
and testing of a single well for the purposes of
onshore oil and gas exploration. The Environment
Agency has also granted a radioactive substances
regulation permit and an oil storage permit (both
Standard Rules)
Europa is the operator of PEDL 143, in which it
holds a 20% interest, alongside UK Oil & Gas Investments
plc 40%, Egdon Resources plc 18.4%, Angus Energy
plc 12.5%, Union Jack Oil plc 7.5% and Altwood Petroleum
1.6%."
Following farm-out to UK Oil & Gas Investments plc, Egdon is
fully carried on its remaining 18.4% share of the exploration well
costs up to a cap of GBP3.2 million.
For further information please contact:
Egdon Resources plc
Mark Abbott 01256 702 292
Buchanan
Ben Romney, Chris Judd 020 7466 5000
Nominated Adviser and Broker - Cantor Fitzgerald Europe
David Porter/Nick Tulloch (Corporate Finance) 020 7894 7000
Caspar Shand Kydd / Alex Pollen (Sales)
Joint Broker - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
Notes to Editors:
Egdon Resources plc (LSE: EDR) is an established UK-based
exploration and production company focused on onshore exploration
and production in the hydrocarbon-producing basins of the UK.
Egdon holds interests in 44 licences in the UK and has an active
programme of exploration, appraisal and development within its
portfolio of oil and gas assets. Egdon is an approved operator in
the UK.
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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