13 Jul 2017 07:00
For Immediate Release | 13 July 2017 |
EGDON RESOURCES PLC
("Egdon" or "the Company")
Wressle Planning Appeal Update
Egdon Resources plc (AIM:EDR) announces that it will appeal the decision of North Lincolnshire Council's Planning Committee of 3 July 2017 to refuse planning consent for a second time for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire (Application PA/2017/696).
Notices advertising our intent to appeal will be displayed in the local parishes and published in the local paper over the coming week in accordance with planning law and an appeal will be submitted without delay shortly afterwards.
Egdon will request the Planning Inspectorate to co-join this new appeal with the appeal against the refusal of planning permission of 11 January 2017. The first appeal is currently scheduled for early November 2017.
Egdon can also advise that it will separately appeal the decision of the 3 July 2017 meeting to refuse application PA/2017/268 which requested a twelve month extension to the existing planning consent for the site.
Mark Abbott, Managing Director of Egdon Resources plc, said:
"We are compelled to bring forward appeals against both of the decisions of North Lincolnshire Council's special Planning Committee meeting of 3 July 2017. Following a thorough and detailed consultation and evaluation, both applications were recommended for approval by the Council's Head of Development Management and Building Control and had support from the key statutory and regulatory consultees. In addition the environmental permit for the proposed Wressle development has been issued by the Environment Agency since the original decision in January of this year. We now look forward to presenting our case at the forthcoming public inquiry."
For further information please contact:
Egdon Resources plc
Mark Abbott 01256 702 292
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:
Wressle
The Wressle-1 well was drilled in 2014 and tested in 2015. The Wressle-1 well has flowed oil and gas from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags. This totalled 710 barrels of oil equivalent per day from all zones. In September 2016 a Competent Person's Report made independent estimates of Reserves and Contingent and Prospective oil and gas Resources for the Wressle discovery of 2.15 million stock tank barrels classified as discovered (2P+2C). Further information can be found at our Wressle Oil and Gas Discovery page http://www.egdon-resources.com/home/project-sites/wressle/
Wressle Planning history
On 11 January 2017 North Lincolnshire Council refused planning consent for the original application for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.
On 7 February 2017 Egdon announced that it would both appeal the decision of 11 January 2017 and in parallel submit a new Planning Application for the Wressle development which would include even more detailed information to address the specific concerns outlined by North Lincolnshire Council in their refusal.
On 11 April 2017, Egdon submitted an appeal against North Lincolnshire Council's decision to refuse planning consent.
On 28 April 2017 Egdon submitted a new application for the Wressle Development including additional detailed information to address the specific concerns raised by North Lincolnshire Council in its 11 January 2017 decision to refuse the original application for the development of the Wressle Oil Field.
On 19 May 2017 Egdon announced the issue by the Environment Agency of the variation to the Mining Waste Permit for the planned Wressle field development and associated operations.
On 3rd July 2017 the new planning application was also refused. The variation of the existing planning for the site requesting a twelve month extension was also refused at the same meeting.
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.
Egdon holds interests in 45 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.
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.
Evaluation of hydrocarbon volumes has been assessed in accordance with 2007 Petroleum Resources Management System prepared by the Oil and Gas Reserves Committee of the Society of Petroleum Engineers (SPE) and reviewed and jointly sponsored by the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Evaluation Engineers (SPEE).