Business
Wressle Planning Decision
Wressle Planning Decision.
About this update from Upland Resources Ltd
[{"type":"text","content":"\n \nRNS Number : 0678B Upland Resources Limited 05 January 2018 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN\nThis announcement is not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction, including in or into the United States, Canada, Australia, or Japan. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever\n \n05 January 2018\nUPLAND RESOURCES LIMITED\n(\"Upland\" or the \"Company\")\nWressle Planning Decision\nUpland Resources Limited, the oil and gas company actively building a portfolio of attractive upstream assets, provides an update in relation to its conditional farm-in agreement for 10% of the Wressle Development project and advises that the Planning Inspectorate has issued its decision in respect of the Wressle Planning Inquiry. The decision made by the Inspector is to reject the appeals by Egdon Resources plc (\"the Operator\") against the two planning refusals by North Lincolnshire County Council's Planning Committee in respect of the development of the Wressle oil discovery in licences PEDL180 and PEDL182.\nHowever, the Planning Inspectorate has advised that it did uphold the Operator's appeal against the decision to refuse the application to retain the existing planning for the well site, which is now retained until the 28 April 2018.\nUpland's wholly-owned subsidiary, Upland Resources (UK Onshore) Limited (\"Upland UK\"), 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 PEDLs 180 and 182, including the Wressle Field development (the \"Wressle Farm-in Agreement\").\nAs detailed in the Company's previous update on the Wressle farm-in agreement (26 September 2017) Upland Resources and Europa Oil and Gas have agreed to extend the 'long-stop' date for satisfaction of the conditions to completion of the agreement to 28th February 2018. One of the outstanding conditions to completion is the award of relevant planning permissions to the Wressle development. If these conditions are not satisfied before that date, Upland UK is...