Egdon Resources PLC Update on Holmwood Well, PEDL 143, Weald Basin (0283X)
November 21 2017 - 1:00AM
UK Regulatory
TIDMEDR
RNS Number : 0283X
Egdon Resources PLC
21 November 2017
21 November 2017
EGDON RESOURCES PLC
("Egdon" or "the Company")
Update on Holmwood Well, PEDL 143, Weald Basin
Egdon Resources plc (AIM:EDR) notes the release made this
morning by Europa Oil and Gas (Holdings) plc ("Europa") in respect
of PEDL143 where Egdon holds an 18.4% interest. Europa included the
following statements;
"Europa Oil & Gas (Holdings) plc, the AIM traded Ireland and
UK focused oil and gas exploration, development and production
company, is pleased to provide a planning update regarding the
Holmwood oil exploration prospect ('Holmwood') on licence PEDL 143
at Bury Hill Wood, Coldharbour Lane, Surrey. Europa is operator of
PEDL 143 in which it holds a 20% interest.
As previously advised in the Company's announcement of 19
October 2017, Surrey County Council's Planning and Regulatory
Committee met on 18 October 2017 in connection with a conventional
oil exploration well to test the Holmwood prospect. The Committee
resolved to defer a decision on Condition 19 (Construction Traffic
Management Plan) of the planning permission granted on 7 August
2015. Europa considers that the Construction Traffic Management
Plan as submitted to SCC on 21 September 2017 for approval
satisfactorily meets the requirements of Condition 19. Europa will
shortly submit an appeal ('the Appeal') to the Planning
Inspectorate against the refusal of Surrey County Council to
approve the Construction Traffic Management Plan and discharge
Condition 19.
Europa will also resubmit the Construction Traffic Management
Plan to SCC for their consideration ('the Resubmittal'). In
parallel with this Europa will undertake additional consultations
with Parish Councils and residents of Coldharbour Lane to provide
further information regarding the Traffic Management Plan.
The Resubmittal and the Appeal form part of a dual track
approach that Europa and its partners believe provides the best
opportunity for a successful planning outcome and which will enable
the discharge of Condition 19."
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 (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 43 licences in the UK 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 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.
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).
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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