11 Apr 2017 07:00
11 April 2017
EGDON RESOURCES PLC
("Egdon" or "the Company")
Wressle Development - Appeal and New Planning Application Update
Egdon Resources plc (AIM:EDR) announces that it will today start the appeal process through the Planning Inspectorate in respect of the decision by North Lincolnshire County Council ("the Council") on 11 January 2017 to refuse planning consent for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.
It is expected that the Planning Inspectorate will validate the submitted appeal documentation within the next 1-2 weeks and will then notify Egdon and the Council of the start date and timetable for the appeal process.
As previously announced the Company will in parallel submit a new planning application for the Wressle development which will include even more detailed information to address the specific points raised by the Council in their refusal. This new planning application will be submitted during April.
The Company also anticipates that the Environmental Permit for Wressle should be issued by the Environment Agency towards the end of April, subject to the outcome of the current consultation process on the draft permit which closes shortly.
In addition, the water monitoring boreholes for the site, for which planning consent was received from the Council at the planning meeting on 11 January 2017, were successfully installed on the existing Wressle well site during February 2017.
Commenting on the update Mark Abbott, Managing Director said: "We believe our case for the appeal is very strong and we will look to progress both the appeal and the new application through the planning system as quickly as possible. We believe this dual track approach will provide the best opportunity for a successful outcome with the minimum delay."
For further information please contact:
Egdon Resources plc
Mark Abbott 01256 702 292
Public Relations - Buchanan
Richard Darby, Anna Michniewicz 020 7466 5000
Nominated Adviser and Broker - Cantor Fitzgerald Europe
David Porter, Sarah Wharry (Corporate Finance) 020 7894 7000
Mark Westcott (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 primarily focused on onshore exploration and production in the hydrocarbon-producing basins of the UK.
Egdon holds interests in 43 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.
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.