Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, notes that Egdon Resources plc (“Egdon”), as Operator of petroleum exploration and development licenses (“PEDLs”) 180 and 182, onshore UK, has today released an RNS announcement regarding the North Lincolnshire County Council’s Planning Committee’s decision to refuse planning consent for the development of the Wressle Oil Field.
At the same meeting the application for the installation of groundwater monitoring boreholes was approved.
Upland’s wholly-owned subsidiary, Upland Resources (UK Onshore) Limited (“Upland UK”) has entered into a conditional agreement dated 24 November 2016 for the farm-in by Upland UK (by way of assignment from Europa Oil & Gas Limited) to a 10% interest in each of UK onshore PEDLs 180 and 182, including the Wressle Field, which agreement has still to be completed.
Egdon’s RNS announcement contained the following information:
Egdon Resources plc (AIM:EDR) announces that the North Lincolnshire County Council’s Planning Committee has today refused planning consent for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.
Mark Abbott Managing Director of Egdon Resources plc, said:
We are very disappointed by the decision of the Committee that goes against the positive recommendation of their Planning Officer which was determined after an extensive and thorough review of our proposals
Our business has been operating exploration and production sites in a safe and environmentally sensitive manner across the region for many years, engaging with communities, employing local people and investing in the local supply chain.
We will now take time to consider our options including our right to bring forward an appeal.”
|Upland Resources Limited||www.uplandres.com|
|Steve Staley, CEO||Tel: 07704 974784
|Optiva Securities Limited|
|Jeremy King (Corporate Finance)||Tel: 020 3137 1904
|Christian Dennis (Corporate Broker)||Tel: 020 3137 1903
|Ben Brewerton/Molly Stewart||Tel: +44 (0) 20 3727 1708
|Sasha Sethi||Tel: +44 (0)7891 677441