Upland Resources Limited Wressle Planning Appeal (9533K)
July 13 2017 - 2:23AM
UK Regulatory
TIDMUPL
RNS Number : 9533K
Upland Resources Limited
13 July 2017
13 July 2017
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Wressle Planning Appeal
Upland Resources Limited, the oil and gas company actively
building a portfolio of attractive upstream assets, notes today's
announcement by Egdon Resources ("Egdon") to appeal the decision of
the North Lincolnshire Council Planning Committee of 3 July 2017.
This decision included the refusal of planning consent, for a
second time, for the development of the Wressle Oil Field at Lodge
Farm, Wressle, North Lincolnshire (Application PA/2017/696).
Egdon, as Operator of Petroleum Exploration Development Licenses
("PEDLs") 180 and 182, intends to appeal the decision and co-join
it with the pre-existing appeal against the refusal of planning
permission of 11 January 2017. Notices advertising Egdon's intent
will be published locally in accordance with planning law.
In addition, Egdon has advised that it will separately appeal
the decision of the 3 July 2017 meeting to refuse a twelve month
extension to the existing planning for the site (Application
PA/217/268).
Upland'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"). Completion of the Wressle Farm-in
Agreement is conditional on receipt of certain planning and other
approvals which may be waived at Upland's discretion.
Steve Staley, Upland Resources CEO, said:
"We note Egdon's intention to appeal North Lincolnshire County
Council's decision to refuse planning consent for the Wressle Oil
Field for a second time. As noted previously, completion of the
Wressle Farm-In Agreement remains conditional on receipt of
planning and other approvals. We aim to update shareholders on the
Farm-in Agreement in the near future and are pleased to report the
Company maintains a strong cash position in the meantime."
Contact details:
Upland Resources Limited www.uplandres.com
Steve Staley, CEO s.staley@uplandres.com
Optiva Securities Limited www.optivasecurities.com
Jeremy King (Corporate Tel: +44 (0)20 3137 1904
Finance) jeremy.king@optivasecurities.com
Christian Dennis (Corporate Tel: +44 (0)20 3411 1882
Broker) christian.dennis@optivasecurities.com
FTI Consulting
Edward Westropp Tel: +44 (0)203 727 1521
edward.westropp@fticonsulting.com
Flowcomms Ltd
Sasha Sethi Tel: 07891 677441
sasha@flowcomms.com
Notes
Upland is an upstream oil & gas company whose highly
experienced management has a track record of creating major value
for shareholders in junior oil & gas companies, including Cove
Energy plc. The Company has extensive technical and commercial
skills and contacts, management having held senior roles in
Petronas, Conoco, Shell etc. Upland is taking advantage of the
current market conditions to acquire quality upstream assets on
attractive terms.
Full Egdon Resources announcement
Egdon Resources plc (AIM:EDR) announces that it will appeal the
decision of North Lincolnshire Council's Planning Committee of 3
July 2017 to refuse planning consent for a second time for the
development of the Wressle Oil Field at Lodge Farm, Wressle, North
Lincolnshire (Application PA/2017/696).
Notices advertising our intent to appeal will be displayed in
the local parishes and published in the local paper over the coming
week in accordance with planning law and an appeal will be
submitted without delay shortly afterwards.
Egdon will request the Planning Inspectorate to co-join this new
appeal with the appeal against the refusal of planning permission
of 11 January 2017. The first appeal is currently scheduled for
early November 2017.
Egdon can also advise that it will separately appeal the
decision of the 3 July 2017 meeting to refuse application
PA/2017/268 which requested a twelve month extension to the
existing planning for the site.
Mark Abbott, Managing Director of Egdon Resources plc, said:
"We are compelled to bring forward appeals against both of the
decisions of North Lincolnshire Council's special Planning
Committee meeting of 3 July 2017. Following a thorough and detailed
consultation and evaluation, both applications were recommended for
approval by the Council's Head of Development Management and
Building Control and had support from the key statutory and
regulatory consultees. In addition the environmental permit for the
proposed Wressle development has been issued by the Environment
Agency since the original decision in January of this year. We now
look forward to presenting our case at the forthcoming public
inquiry."
This information is provided by RNS
The company news service from the London Stock Exchange
END
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