5 Jan 2018 07:00
05 January 2018
EGDON RESOURCES PLC
("Egdon" or "the Company")
Wressle Development Planning Appeals Rejected
Egdon Resources plc (AIM:EDR) can advise that the Planning Inspectorate has issued its decision in respect of the Wressle Planning Inquiry. The decision made by the Inspector is to reject the appeals by Egdon against the two planning refusals by North Lincolnshire County Council's Planning Committee in respect of the development of the Wressle oil discovery in licences PEDL180 and PEDL182.
However, the Planning Inspectorate has advised that it did uphold Egdon's appeal against the decision to refuse the application to retain the existing planning for the well site, which is now retained until the 28 April 2018.
Mark Abbott Managing Director of Egdon Resources plc, said:
"The decision of the Planning Inspectorate is clearly highly disappointing given the strong case presented at the inquiry, the previous positive recommendations of North Lincolnshire County Council's Planning Officer in respect of the applications and the issue of an Environmental Permit for the proposed development which was determined after an extensive and thorough review of our proposals.
The Planning Inspectorate's decision to uphold our appeal for the extension of the original Wressle exploration well planning consent gives us some time to consider our next steps.
We will now take the opportunity to consider in detail the reasons for the refusals as contained in the decision notice and review the options available to us. We will provide a further update in the next few days."
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 44 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.