27 Sep 2012 15:43
For Immediate Release | 27 September 2012 |
EGDON RESOURCES PLC
("Egdon" or "the Company")
Planning Decision - Holmwood-1 Exploration Well
Egdon Resources plc (AIM:EDR) notes the release made today by Europa Oil and Gas (Holdings) plc ("Europa") advising of yesterday's ruling by the Planning Inspectorate to dismiss the appeal against Surrey County Council's original decision to refuse planning permission for the drilling of the Holmwood-1 exploration well.
The joint venture partners are taking legal advice and considering their options with regard to the decision.
Holmwood is situated in PEDL143 where Egdon holds a 38.4% interest. The joint venture partners are Europa Oil & Gas Ltd (Operator) (40%), Warwick Energy (20%) and Altwood Petroleum Limited (1.6%).
For further information please contact:
Egdon Resources plc Mark Abbott | 01256 702292 www.egdon-resources.com |
Buchanan Richard Darby, Gabriella Clinkard | 020 7466 5000 |
Nominated Adviser and Broker - Seymour Pierce Jonathan Wright (Corporate Finance) Richard Redmayne (Corporate Broking)
| 020 7107 8000 |
Notes to Editors:
Egdon Resources plc
Egdon Resources plc (LSE: EDR) is an established UK-based exploration and production company primarily focused on onshore exploration and production in the hydrocarbon-producing basins of the UK and Europe.
Egdon currently holds interests in thirty licences in the UK and France and has an active programme of exploration, appraisal and development within its balanced portfolio of oil and gas assets. Egdon is an approved operator in both the UK and France.
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.