Holmwood Update

Egdon Resources plc (AIM:EDR) notes the following announcement made today by Europa Oil and Gas (Holdings) plc the operator of the Holmwood Licence PEDL143:

“Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to provide a planning update regarding the Holmwood conventional oil exploration prospect in the Weald Basin (‘Holmwood’) on Licence PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey.   Europa Oil & Gas Limited is operator of PEDL 143 in which it holds a 20% interest.

Europa will today submit a planning application to Surrey County Council seeking a Variation of conditions 3 and 19 (i) of Appeal Decision APP/YB3600/A/11/2166561, to extend the temporary period of the permission for the well site by a further 3 years and to remove the requirement for the scheme to include an identified HGV holding area. It has also applied today for two other associated planning applications – for the underground drilling corridor and for the temporary security fence, which is to be erected around the well site.

Europa also confirms that the Oil and Gas Authority has extended the Initial Term of Licence for PEDL 143 until 30 September 2020.

The Environment Agency granted a mining waste permit number EPR/YP3735YK on 23 July 2018. The permit authorises the management of extractive wastes not involving a waste facility to allow the drilling and testing of a single well for the purposes of onshore oil and gas exploration. The Environment Agency has also granted a radioactive substances regulation permit and an oil storage permit (both Standard Rules)

Europa is the operator of PEDL 143, in which it holds a 20% interest, alongside UK Oil & Gas Investments plc 40%, Egdon Resources plc 18.4%, Angus Energy plc 12.5%, Union Jack Oil plc 7.5% and Altwood Petroleum 1.6%.”

Following farm-out to UK Oil & Gas Investments plc, Egdon is fully carried on its remaining 18.4% share of the exploration well costs up to a cap of £3.2 million.