Wressle: Extension of Existing Planning Consent Approved on Appeal

Egdon Resources plc (AIM:EDR) is pleased to advise that its application to extend the existing planning consent for the Wressle site by a year, was approved by the Planning Inspector on appeal yesterday. The original application was refused by North Lincolnshire Council’s (the “Council”) Planning Committee on 1 August 2018, despite having been recommended for approval by the Council’s Planning Officer.This extension to the existing planning consent to 24 January 2020 should allow the required time for the determination of an appeal against the refusal on 28 November 2018 by the Council’s Planning Committee of the Company’s application for the development of the Wressle oil field.Mark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased and encouraged that the Inspector supported our position in relation to this appeal. We look forward to a Planning Inspector considering at a public inquiry our appeal against the refusal in November 2018 of our revised development proposals for the Wressle oil field.  We strongly believe that the new proposals for the development of the Wressle oil field comprehensively addressed the reasons highlighted by the Planning Inspector in his dismissal of our original appeals in January 2018. This position was supported by the recommendation for approval given by the Council’s Planning Officer as reinforced by an expert third party review undertaken on behalf of the Council. We plan to submit the appeal documentation in relation to this in the coming week.” Wressle:The Wressle-1 well was drilled in 2014 and tested in 2015. Egdon Resources has a 30.00% operated interest in the field. 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 https://www.egdon-resources.com/home/project-sites/wressle/