Holmwood Update

19 October 2017

Fulfilment of Planning Conditions for Holmwood well in the Weald Basin

Egdon Resources plc (AIM:EDR) notes the release made this morning by Europa Oil and Gas Holdings) plc (“Europa”) in respect of PEDL143 where Egdon holds an 18.4% interest. Europa included the following statements;

“Europa Oil & Gas (Holdings) plc, UK and Ireland focussed exploration, development and production company notes the outcome of the Surrey County Council Planning and Regulatory Committee meeting on 18 October 2017 in connection with a conventional oil exploration well to test the Holmwood prospect at Bury Hill Wood, Coldharbour Lane, Surrey:

  •  A planning application for a security fence for the drill site was approved by Surrey County Council (‘SCC’) at the Planning and Regulatory Committee meeting on 18 October 2017.
  •  The Planning Committee elected to defer a decision on Condition 19 (Traffic Management Scheme) pending response to further requests for information from the Planning Committee.

 Europa will consult with its joint venture partners and advisers and respond to SCC on Condition 19 accordingly.

 As a consequence of the deferred decision on Condition 19, the Company advises that it anticipates operations to drill the Holmwood conventional oil exploration well will now commence in H1 2018.

 Europa is operator of the Licence in which it holds a 20% interest, alongside UK Oil & Gas Investments plc 30%, Egdon Resources plc 18.4%, Angus Energy plc 12.5%, Warwick Energy 10%, Union Jack Oil plc 7.5% and Altwood Petroleum 1.6%.”