(Alliance News) - Egdon Resources PLC, Europa Oil & Gas (Holdings) PLC and Union Jack Oil PLC on Friday all noted that they expect a decision from a public inquiry into a North Lincolnshire oil field to be reached before the end of 2019.
The inquiry on Wresssle concluded on Thursday, lasting just three days instead of six, which was initially planned. The joint-venture partners are pursuing an appeal after development proposals were initially refused planning consent in November 2018.
The North Lincolnshire Council presented no evidence against the appeal, the companies noted.
The partners expect a verdict to be reached after the December 12 UK general election.
Egdon Managing Director Mark Abbott said: "We presented a very strong case, supported by detailed evidence and agree with the conclusions of the council's own professional planning officer. This was reinforced by an expert third party review undertaken on behalf of the council, who recommended our revised application for approval ahead of the November 2018 decision."
Shares in Egdon were 8.6% lower at 2.65 pence each in London on Friday morning.
Europa shares were trading 0.5% lower at 2.19p each and Union Jack shares were 1.3% down at 0.33p apiece.
By Eric Cunha; ericcunha@alliancenews.com
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