Egdon Resources plc (AIM:EDR) notes the press release made today by Europa Oil & Gas (Holdings) plc (“Europa”) advising the granting of planning consent for the Kiln Lane-1 conventional exploration well in Lincolnshire Licence PEDL181 where Egdon holds a 25% interest.
Europa as the operator of PEDL181 has today advised that it was “pleased to announce its proposal to drill the Kiln Lane conventional exploration well on licence PEDL 181 in East Lincolnshire has been approved by the Planning Committee at a meeting held today at Grimsby town hall. The approval is subject to the signing of a Section 106 agreement which is currently being finalised.”
Europa’s CEO, Hugh Mackay also stated,
“Planning approval is an important step and, subject to the granting of an Environmental Agency permit in a timely manner, we remain on course to commence operations at Kiln Lane by year end. We are keen to drill a conventional well at Kiln Lane not only because we estimate it holds gross prospective resources of 2.9 mmbo and has a one in three chance of success, but also because it is located on a large undrilled licence. Success would open up a new conventional oil and gas play and in the process de-risk additional leads identified.”