9 Apr 2018 13:30
9 April 2018
EGDON RESOURCES PLC
("Egdon" or "the Company")
North Kelsey Planning Update
Egdon Resources plc (AIM:EDR) advises that its application to extend to December 2020, the existing planning permission to drill an exploratory conventional oil well (North Kelsey-1) on farmland off Smithfield Road, North Kelsey, Brigg, Lincolnshire was deferred at today's meeting of the Lincolnshire County Council Planning Committee. A decision will be taken once the Planning Committee has undertaken a site visit.
Commenting on the meeting outcome, Mark Abbott, Managing Director of Egdon Resources plc, said:
"Today's deferral is frustrating given the strong case presented and the positive recommendation of Lincolnshire County Council's Planning Officer in respect of the application. We will provide an update once we know when Egdon's application will be heard at Lincolnshire County Council's Planning Committee Meeting."
For further information please contact:
Egdon Resources plc
Mark Abbott 01256 702 292
Buchanan
Ben Romney, Anna Michniewicz 020 7466 5000
Nominated Adviser and Broker - Cantor Fitzgerald Europe
David Porter (Corporate Finance) 020 7894 7000
Caspar Shand Kydd / Alex Pollen (Sales)
Joint Broker - VSA Capital Limited
Andrew Monk (Corporate Broking) 020 3005 5000
Andrew Raca (Corporate Finance)
Notes to Editors:
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 43 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.
North Kelsey
In December 2014 Egdon Resources U.K. Ltd, as operator of the licence area PEDL241, received temporary planning permission from Lincolnshire County Council to drill an exploratory conventional oil well on farmland off Smithfield Road, North Kelsey, Brigg, Lincolnshire.
The North Kelsey Prospect is defined on 3 Dimensional seismic data and has potential for up to four stacked conventional reservoir intervals in the Chatsworth, Beacon Hill, Ravensthorpe and Santon sandstones.
For clarity the operations at the site will not involve the process of hydraulic "fracking" for shale gas or shale oil either now or in the future. This part of Lincolnshire does not have the specific rock-formation types that contain shale gas as confirmed by the British Geological Survey in 2013.