Egdon Resources PLC - UK-focused oil & gas exploration and production company - Says it intends to submit an appeal against the refusal of planning permission by Lincolnshire County Council in November, for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site, held under licence PEDL253. Egdon is operator and holds a 35.8% interest in the licence. The appeal documentation is currently in preparation and is expected to be submitted during the first quarter, it says.
Partner Union Jack Oil PLC notes that Egdon Resources UK Ltd intends to submit an appeal against the refusal of planning permission for oil production at the shared Biscathorpe site on PEDL253 license.
Union Jack owns a 45% interest in PEDL253.
Egdon Resources current stock price: 1.68 pence
12-month change: down 29%
Union Jack current stock price: 13.96 pence, down 8.5% on Tuesday
12-month change: down 65%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Union Jack (UJO)