LONDON (Alliance News) - Exploration company Egdon Resources PLC said Monday that its application to extend planning permission at two oil well sites to 2020 has been approved by the Lincolnshire Country Council.
The permission covers the drilling of conventional exploratory oil wells at the North Kelsey-1 and Biscathorpe-2 site locations.
Union Jack Oil PLC, a UK-focused offshore exploration company that holds 20% of the North Kelsey licence interest and 22.00% of the Biscathorpe licence, noted the planning permission extension.
Shares in Egdon Resources were trading at 8.55 pence, up 3%, while shares in Union Jack Oil were trading at 0.11p, up 16.9%.
