Egdon Resources Says Lincolnshire Drops Case Over Wressle Planning

(Alliance News) - Egdon Resources PLC on Monday confirmed its appeal against the denial of ...

Alliance News 29 July, 2019 | 10:57AM
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(Alliance News) - Egdon Resources PLC on Monday confirmed its appeal against the denial of planning for the Wressle oil field will not need to go to court.

The North Lincolnshire Council has confirmed it will not be presenting evidence at the public inquiry, and will withdraw its case "subject to the agreement of acceptable planning conditions", Egdon said.

Egdon cautioned that, though this is a "very positive" development, it still needs to get planning permission and will be presenting a case to the planning inspector in November.

Egdon shares were 6.8% lower on Monday morning at 5.24 pence each.

The announcement was noted by Europa Oil & Gas Holdings PLC, which owns 30% of the licence on which Wressle is located, PEDL180. Union Jack Oil PLC, with 28% of the licence, also noted the announcement.

Europa Oil & Gas shares were 2.8% lower at 3.11p, and Union Jack was down 0.6% at 0.28p.

By George Collard;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Union Jack Oil PLC 0.19 GBX 0.00 -
Europa Oil & Gas (Holdings) PLC 1.10 GBX 0.00 -
Egdon Resources PLC 2.20 GBX 0.00 -

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