Egdon Resources plc (AIM:EDR) advises that its applications to extend to December 2020, the existing planning permissions to drill conventional exploratory oil wells at both the North Kelsey-1 and Biscathorpe-2 site locations were approved at today’s meeting of the Lincolnshire County Council Planning Committee.
Commenting on the decisions, Mark Abbott, Managing Director of Egdon Resources plc, said:
“We are pleased with today’s decisions to extend the planning permissions as it enables us to progress our drilling plans at both the North Kelsey and Biscathorpe conventional oil prospects. For Biscathorpe-2, following recent farm-outs on this well, we now look forward to drilling this high potential conventional oil prospect with operations commencing around mid-2018. We hope to conclude further farm-out negotiations for North Kelsey-1 shortly enabling drilling to be targeted around the end of 2018 providing a further material near-term catalyst for Egdon”