Business
EOG - Update on Wressle, North Lincolnshire
EOG - Update on Wressle, North Lincolnshire.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n \nEuropa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n\n30 October 2018\n\nEuropa Oil & Gas (Holdings) plc (‘Europa’ or ‘the Company’)\n\nUpdate on Wressle, North Lincolnshire\n\nEuropa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, notes today’s update from Egdon Resources (‘Egdon’) in its Preliminary Results with regards to its commitment to gaining planning consent for the Wressle oil field development on PEDL 180 in the East Midlands. Europa has a 30% working interest in Wressle alongside Egdon (operator, 30%), Union Jack Oil (27.5%), and Humber Oil & Gas Limited (12.5%) (‘the Joint Venture partners’). \n\nEuropa's CEO, Hugh Mackay, said: “It is clear that Egdon is committed to securing the planning consent at Wressle. The operator has carefully set out to address the issues identified in its revised planning application which it expects to be heard by the committee before year-end. That Egdon has increased its working interest in the asset demonstrates its confidence in being able to develop Wressle to commercial production, and we share its optimism that this is an achievable target.â€\n\nInformation from Egdon`s RNS published today regarding the Wressle oil field is as follows:\n\nExcerpt from Egdon’s Chairman’s Statement\n\nWe remain committed to gaining planning consent to develop the Wressle oil discovery and have acquired a further 5% interest in this asset during the period emphasising our confidence in the asset. We await the council's determination of our revised planning application, submitted in July 2018 following the January 2018 rejection of our earlier planning appeals, and remain ready to take this through another appeal process if required.\n\nExcerpt from Egdon’s Operating Review\n\nAt the Wressle project, in early July 2018 we announced the submission of a new planning application for the development of the oil discovery to North Lincolnshire Council (\"NLC\"). The Company strongly believes that the new application takes full account of the key findings of the Planning Inspector's decision to dismiss the Company's appeals as set out in his decision letter of 4 January 2018, which identified three key issues in his decision: the absence of a ground condi...