Yearly Archives: 2018

Petrichor acquires increased interest in Egdon Resources

30 July 2018

Egdon Resources plc (AIM:EDR) notes the following

  • The press release made today by Infinis Energy Services (“Infinis”) (100% owner of Alkane Energy Limited (“Alkane”) confirming the completion of its sale to Petrichor Holdings Coöperatief U.A (“Petrichor”) of 35,870,487 Egdon Ordinary Shares held by Alkane (representing 13.797 per cent. of the issued share capital of the Company) and the placing by VSA Capital (“VSA”) to an institutional investor of a further 4,129,513 Ordinary Shares (representing 1.588 per cent of the issued share capital of the Company);
  • The effective price of the transactions was 12.8 pence per ordinary share (representing a 22% premium over the Company’s closing mid-price of 10.5 pence per share on 25 July 2018);
  • The TR-1 Notification filed by Infinis confirming it no longer holds an interest in the Company; and
  • The TR-1 Notification filed by Petrichor confirming it has acquired further shares in Egdon raising its interest to 29.99 per cent (77,969,448 Ordinary Shares).


Holmwood Update

24 July 2018

Egdon Resources plc (AIM:EDR) notes the following announcement made today by Europa Oil and Gas (Holdings) plc the operator of the Holmwood Licence PEDL143:

“Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to provide a planning update regarding the Holmwood conventional oil exploration prospect in the Weald Basin (‘Holmwood’) on Licence PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey.   Europa Oil & Gas Limited is operator of PEDL 143 in which it holds a 20% interest. (more…)

Submission of New Planning Application for Wressle Development

5 July 2018

Egdon Resources plc (AIM:EDR) is pleased to announce the submission to North Lincolnshire Council (NLC) of a new planning application (the Application) for the development of the Wressle oil field, which the Company believes comprehensively addresses the reasons for the refusal of the original planning applications and the subsequent appeals.

The Application is supported by a detailed planning and sustainability statement, a suite of technical drawings showing construction and layout details and updated and new technical assessments.

The Company believes that the Application takes full account of the key findings of the Planning Inspector’s decision to dismiss the Company’s appeals as set out in his decision letter of 4 January 2018, which identified three key issues in his decision; the absence of a ground conditions survey report; the absence of sufficient evidence on the adequacy of the Geosynthetic Clay Liner (GCL) covering; and uncertainty with regards to the near surface geology and specifically the presence of capping layers to the underlying aquifers. (more…)

Response to Written Ministerial Statement on UK Shale Gas

17 May 2018

Egdon Resources welcomes the Government’s support and commitment to our industry as laid out in the Written Ministerial Statement (“WMS”) of today from the Department of Business, Energy and Industrial Strategy (BEIS) and the Department for Housing, Communities and Local Government .(DHCLG).


North Kelsey and Biscathorpe Planning Update

14 May 2018

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.


Directors’ Share Dealing

27 April 2018

The Company has been informed of the following recent transaction by a Director:

Mark Abbott, Managing Director, purchased 325,000 ordinary shares via his SIPP at an average price of 6.8 p.

Following this transaction Mark Abbott holds interests in 8,089,387 ordinary shares representing 3.11% of the share capital of the Company.

The issued share capital of Egdon Resources plc consists of 259,984,822 ordinary shares of 1 pence each with voting rights. No Shares are held in treasury. Therefore, the total number of voting rights in the Company is 259,984,822.