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Egdon Resources Regulatory News (EDR)



Regulatory News for Egdon Resources (EDR)


Share Price: 4.75Bid: 4.50Ask: 5.00Change: 0.00 (0.00%)No Movement on Egdon Resources
Spread: 0.50Spread as %: 11.11%Open: 4.75High: 4.75Low: 4.75Yesterday’s Close: 4.75





Wressle Planning Consent Refused

Wed, 28th Nov 2018 16:15

RNS Number : 8121I
Egdon Resources PLC
28 November 2018

28 November 2018

EGDON RESOURCES PLC

("Egdon" or "the Company")

Wressle Planning Consent Refused

Egdon Resources plc (AIM:EDR) advises that its application for planning consent for the Wressle Development was refused at today's meeting of the North Lincolnshire Council Planning Committee ("the Committee"). The application had been recommended for approval by North Lincolnshire County Council's planning officers.

Mark Abbott, Managing Director of Egdon Resources plc, said:

"The decision of the Committee, whilst not entirely unexpected, is nonetheless disappointing given that the application had been recommended for approval by North Lincolnshire Council's own professional planning officer who had the benefit of a positive assessment by specialist independent technical consultants.

We agree with the conclusion of the planning officer and the independent consultants and strongly believe the new application for the development of the Wressle oil field fully and comprehensively addresses the reasons for the refusal of the original planning applications and the subsequent appeals and therefore intend to appeal this decision without delay. We will begin preparing the appeal documentation on receipt of the Committee's decision notice."

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 / Gregor Paterson (Sales)

Joint Broker - VSA Capital Limited

Andrew Monk (Corporate Broking) 020 3005 5000

Andrew Raca (Corporate Finance)

Notes to Editors:

Planning history:

On 11 January 2017, North Lincolnshire 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 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 Council in its 11 January 2017 decision to refuse the original application for the development of the Wressle Oil Field.

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.

On 3 July 2017, the new planning application was also refused. The variation of the existing planning for the site requesting a twelve month extension was also refused at the same meeting.

During November 2017, a planning inquiry was held to consider the two appeals for development approval and the appeal of the variation of the existing planning for the site. On 5 January 2018, we announced that the Inspector had rejected the appeals by Egdon against the two planning refusals by North Lincolnshire County Council's Planning Committee. However, the Planning Inspectorate did uphold Egdon's appeal against the decision to refuse the application to retain the existing planning for the well site, which is was retained until the 28 April 2018.

A new application to extend the current planning consent was submitted on 13 April 2018 and refused 1 August 2018 and the company announced its intention to appeal the decision

On 5 July we announced the submission to North Lincolnshire Council of a new planning application for the development of the Wressle oil field.

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.
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