REG - Egdon Resources PLC - North Kelsey Planning Appeal Update

Egdon ResourcesAnnouncement

06/06/2023 11:00

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RNS Number : 8134B  Egdon Resources PLC  06 June 2023

06 June 2023

EGDON RESOURCES PLC

("Egdon" or "the Company")

North Kelsey Planning Appeal Update

Egdon Resources plc (AIM:EDR) the UK Energy Company, advises that it has
reluctantly made the decision to withdraw the planning appeals in relation to
the refusal of planning consent for exploratory drilling at North Kelsey,
which were due to be heard at a hearing on 14 and 15 June 2023.

This decision follows recent correspondence with the Planning Inspector where
it became clear that he viewed the lateral borehole, which was included in the
latest application, as new development which was outside of the original red
line boundary of the 2014 planning consent and therefore which could not be
properly considered as part of a Section 73 application as made.  In this
correspondence both Egdon and Lincolnshire County Council, as the minerals
planning authority, expressed the position that the lateral borehole was valid
under Section 73.

 

The lateral borehole is a fundamental aspect of the exploratory well at North
Kelsey to ensure all exploration targets are fully explored.  Therefore, to
ensure that there is clarity on this matter Egdon will be submitting a new
planning application for consideration by Lincolnshire County Council as soon
as possible. This application will be accompanied by recently completed
updated traffic, ecology and flood risk assessments.

 

As part of this process we will undertake fresh consultation with the local
community prior to submitting the application. This will provide the
opportunity for members of the public and parish councils to inspect the
proposals at North Kelsey and be more informed during the formal consultation
process undertaken by Lincolnshire County Council.

 

Commenting Mark Abbott, Managing Director of Egdon, said;

"Whilst it is disappointing to have to withdraw the appeals at this late stage
and with the strong belief that our case for approval was compelling, we and
our advisors unfortunately saw little option given that a lateral borehole is
key to the exploratory drilling, and to ensure clarity and robustness in any
decision made.

 

We will now focus on finalising a new application supported by recently
completed updated technical assessments to account for any changes since the
original planning consent from 2014."

 

For further information please contact:

Egdon Resources plc

Mark Abbott, Martin
Durham
01256 702 292

 

Buchanan

Ben Romney, Jon
Krinks
020 7466 5000

 

Nominated Adviser & Joint Broker - WH Ireland
Limited

Antonio Bossi, Chris Hardie, James Bavister
                        020 7220 1666

 

Joint Broker & Financial Advisors - VSA Capital Limited

Andrew Monk, Andrew Raca
                                       020 3005 5000

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), as amended, and
is disclosed in accordance with the Company's obligations under Article 17 of
MAR

 

About Egdon

 

Egdon Resources plc (LSE: EDR) is an established UK-based energy company
focused on onshore exploration and production in the UK.

Egdon holds interests in 34 licences in the UK and has an active programme of
exploration, appraisal and development within its portfolio of oil and gas
assets. Egdon is an approved operator in the UK.  Egdon was formed in 1997
and listed on AIM in December 2004.

.

 

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