Wressle Development Granted Planning Consent on Appeal – EDR, UJO, EOG

Egdon Resources plc (AIM:EDR) is pleased to report that the Planning Inspectorate has today upheld our appeal and granted planning consent for the development of the Wressle Oil Field in North Lincolnshire licences PEDL180 and PEDL182.

The Inspector also allowed the application for an award of costs against North Lincolnshire Council. Europa has a 30% working interest in the Licences, alongside Egdon (operator, 30%), Union Jack Oil (27.5%), and Humber Oil & Gas Limited (12.5%) (together ‘the Partners’).

Work will now begin on discharging the planning conditions and the detailed planning for the development works at the Wressle oil field which was discovered in 2014 by the Wressle-1 well. During testing, a total of 710 barrels of oil equivalent per day were recovered from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags.

In September 2016, a Competent Person’s Report provided 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).

Mark Abbott Managing Director of Egdon Resources plc, said: “I am delighted that the Planning Inspectorate has made this positive determination in relation to this important asset for Egdon and our JV partners. We will now begin work on discharging the planning conditions and the detailed planning for the development works. We will continue to keep shareholders and the local community informed.”

David Bramhill, Executive Chairman of Union Jack Oil plc, commented: “The Board of Union Jack is delighted with this positive outcome. The operator will, on behalf of the Joint Venture partners, begin work on discharging the planning conditions and detailed planning for development of the Wressle Oil Field. Shareholders and the local community will be informed of developments in due course”

Simon Oddie, Chairman of Europa Oil & Gas (Holdings (EOG)said: “The granting of planning consent for the development of the Wressle oil field is a milestone event for Europa. Under the development plan, Wressle is expected to commence production at an initial gross rate of 500bopd, which would more than double Europa’s existing UK onshore production to over 200bopd. With this in mind, we look forward to working with our partners in the Licences to discharge the planning conditions and bring Wressle into production at the earliest opportunity.”

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