EDR.L Regulatory News (EDR)

06 June 2023

EGDON RESOURCES PLC

("Egdon" or "the Company")

North Kelsey Planning Appeal Update

Egdon Resources plc (AIM:EDR) the UK Energy Company, advises that it has reluctantly made the decision to withdraw the planning appeals in relation to the refusal of planning consent for exploratory drilling at North Kelsey, which were due to be heard at a hearing on 14 and 15 June 2023.

This decision follows recent correspondence with the Planning Inspector where it became clear that he viewed the lateral borehole, which was included in the latest application, as new development which was outside of the original red line boundary of the 2014 planning consent and therefore which could not be properly considered as part of a Section 73 application as made. In this correspondence both Egdon and Lincolnshire County Council, as the minerals planning authority, expressed the position that the lateral borehole was valid under Section 73.

The lateral borehole is a fundamental aspect of the exploratory well at North Kelsey to ensure all exploration targets are fully explored.  Therefore, to ensure that there is clarity on this matter Egdon will be submitting a new planning application for consideration by Lincolnshire County Council as soon as possible. This application will be accompanied by recently completed updated traffic, ecology and flood risk assessments.

As part of this process we will undertake fresh consultation with the local community prior to submitting the application. This will provide the opportunity for members of the public and parish councils to inspect the proposals at North Kelsey and be more informed during the formal consultation process undertaken by Lincolnshire County Council.

Commenting Mark Abbott, Managing Director of Egdon, said;

"Whilst it is disappointing to have to withdraw the appeals at this late stage and with the strong belief that our case for approval was compelling, we and our advisors unfortunately saw little option given that a lateral borehole is key to the exploratory drilling, and to ensure clarity and robustness in any decision made. 

We will now focus on finalising a new application supported by recently completed updated technical assessments to account for any changes since the original planning consent from 2014."

For further information please contact: 

Egdon Resources plc

Mark Abbott, Martin Durham 01256 702 292

Buchanan

Ben Romney, Jon Krinks 020 7466 5000

Nominated Adviser & Joint Broker - WH Ireland Limited

Antonio Bossi, Chris Hardie, James Bavister 020 7220 1666

Joint Broker & Financial Advisors - VSA Capital Limited

Andrew Monk, Andrew Raca 020 3005 5000

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), as amended, and is disclosed in accordance with the Company's obligations under Article 17 of MAR

About Egdon

Egdon Resources plc (LSE: EDR) is an established UK-based energy company focused on onshore exploration and production in the UK. 

Egdon holds interests in 34 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.

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