20180727 TR-1 Notification (Petrichor) Cantor

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).

Alkane originally acquired its 40,000,000 Ordinary Shares in Egdon in exchange for the sale of its shale exploration acreage to the company which was completed in June 2014. The HEYCO Energy Group Inc (of which Petrichor is a subsidiary) has held shares in the Company since 2009.The issued share capital of Egdon 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.Mark Abbott, Managing Director of Egdon Resources plc, said:“This further investment by Petrichor, an existing long-term and supportive shareholder in the Company, and at a significant premium to our current share price, represents a considerable vote of confidence in Egdon’s business model and the potential of our assets.”

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.

Europa will today submit a planning application to Surrey County Council seeking a Variation of conditions 3 and 19 (i) of Appeal Decision APP/YB3600/A/11/2166561, to extend the temporary period of the permission for the well site by a further 3 years and to remove the requirement for the scheme to include an identified HGV holding area. It has also applied today for two other associated planning applications – for the underground drilling corridor and for the temporary security fence, which is to be erected around the well site.

Europa also confirms that the Oil and Gas Authority has extended the Initial Term of Licence for PEDL 143 until 30 September 2020.

The Environment Agency granted a mining waste permit number EPR/YP3735YK on 23 July 2018. The permit authorises the management of extractive wastes not involving a waste facility to allow the drilling and testing of a single well for the purposes of onshore oil and gas exploration. The Environment Agency has also granted a radioactive substances regulation permit and an oil storage permit (both Standard Rules)

Europa is the operator of PEDL 143, in which it holds a 20% interest, alongside UK Oil & Gas Investments plc 40%, Egdon Resources plc 18.4%, Angus Energy plc 12.5%, Union Jack Oil plc 7.5% and Altwood Petroleum 1.6%.”

Following farm-out to UK Oil & Gas Investments plc, Egdon is fully carried on its remaining 18.4% share of the exploration well costs up to a cap of £3.2 million.

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.

The first issue has been addressed by the production of an independent Ground Investigation Report which evaluates and confirms the underlying ground condition at the wellsite using information gained from geotechnical site investigation boreholes drilled in Q1 2018.

The second issue has been addressed through the proposed reconfiguration of the wellsite to install a new high-density polyethylene (HDPE) impermeable membrane above the existing GCL, with additional associated protection layers across the entire wellsite. The specification of the HDPE impermeable membrane, associated protection layers and thickness and suitability of the stone covering layer, has been informed by the Ground Investigation Report, tested and validated in a laboratory, and agreed between the membrane manufacturer and Egdon's consulting civil and structural engineers.

The third issue has been addressed through an updated independent Hydrogeological and Flood Risk Assessment (HRA), which includes the results of samples tested from two deeper cored boreholes drilled in Q1 2018. The HRA confirms the detail of the near surface geology and conclusively demonstrates the presence of laterally continuous capping layers to the underlying aquifers.

Further detail of the Application can be found in the notes to editors below.

Once validated by North Lincolnshire Council, the Application will be reviewed by the Planning Officers at NLC, considered by statutory consultees and will be open for comment from interested parties.  The period of consultation should be 13 weeks for an application of this nature.

Mark Abbott, Managing Director of Egdon Resources plc, said:

"The submission of this new planning application is the culmination of a significant amount of detailed and thorough work by our team of specialist consultants and advisers. The new proposed development has been informed by information from the site investigation and deeper cored boreholes drilled during the first quarter of 2018 and has been designed to comprehensively address the key concerns which resulted in the Inspector's dismissal of our planning appeals. 

The proposed development incorporates high levels of embedded mitigation, such as the new HDPE impermeable membrane system, to minimise the potential for any environmental or other impacts from our operations.  The effectiveness of this mitigation will be verified by continuous monitoring of the nearby water and groundwater.

We plan to set up a community liaison group and a community fund to ensure the local community are kept fully informed and share in the benefits of the Wressle development.

We hope that North Lincolnshire Council will recognise the positive changes made to the proposed development when determining this planning application and we remain available to address any remaining questions or concerns which may arise during the consultation and determination process."   

Notes to Editors:

The Wressle-1 Oil Field:

The Wressle-1 well was drilled in 2014 and tested in 2015. The Wressle-1 well has flowed oil and gas from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags.  This totalled 710 barrels of oil equivalent per day from all zones.  In September 2016, a Competent Person's Report made independent estimates of Reserves and Contingent and Prospective oil and gas Resources for the Wressle discovery of 2.15 million stock tank barrels classified as discovered (2P+2C).  Further information can be found at our Wressle Oil and Gas Discovery page https://www.egdon-resources.com/home/project-sites/wressle/ 

The New Planning Application:

The new planning application (the Application) seeks permission for the Proposed Development, which comprises:

"Retention of the Wressle-1 Wellsite and access track for the Production of Hydrocarbons, together with an extension of the site by 0.12ha for the installation of additional security facilities; site reconfiguration to facilitate the installation of a new impermeable membrane, French drain and surface water interceptor; construction of a bund, tanker loader plinth and internal roadway system; installation of up to 2 additional groundwater monitoring boreholes and deepening of 3 existing groundwater monitoring boreholes; well operations; installation of production facilities and equipment; installation of gas engine and electrical grid connection; oil and gas production for a temporary period of 15 years; and restoration to arable land at Lodge Farm, Clapp Gate, Appleby, Scunthorpe."

The planning application is accompanied by the following documents:

·       Planning and Sustainability Statement;

·       Planning Application Form;

·       Oil and Gas Checklist;

·       Site Plans and Design Drawings;

·       Technical Assessments comprising:

·      Air Quality Assessment;

·      Archaeology and Heritage Impact Assessment;

·      Civil and Structural Design Statement;

·      Ecological Appraisal;

·      Hydrogeological and Flood Risk Assessment;

·      Landscape and Visual Appraisal;

·      Lighting Assessment;

·      Assessment of Environmental Noise Emissions; and

·      Transport Statement.

Whilst the Inspector supported Egdon's position on many aspects of the previous applications the Inspector identified the following as key issues in his decision to dismiss the Company's appeals as set out in his decision letter of 4 January 2018:

a.             The absence of a ground conditions survey report;

b.             The absence of sufficient evidence on the adequacy of the Geosynthetic Clay Liner (GCL) covering; and

c.             Uncertainty with regards to the near surface geology and specifically the presence of capping layers to the underlying aquifers.

Egdon believes that these issues have been fully addressed in the Application as summarised in the RNS and as detailed further below.

·      A number of geotechnical site investigation boreholes and two deeper cored boreholes were drilled on the Wressle-1 wellsite during Q1 2018. 

·      The nature of the underlying ground condition at the wellsite has been assessed and an independent Ground Investigation Report prepared which details the existing ground conditions at the wellsite, confirming the Company's view of the suitability of the site and satisfying the first of the Inspectors key reasons for dismissal of the appeals.

·      This Ground Investigation Report has been utilised by an independent firm of consulting civil and structural engineers, to prepare a Civil and Structural Design Statement. This document details the design criteria, guidance and regulations applicable to the redesign and reconfiguration of the wellsite as proposed in the Application.

·      The proposed wellsite reconfiguration will result in the installation of a new high-density polyethylene (HDPE) impermeable membrane and additional associated protection layers across the entire wellsite. As part of this, the existing site surface aggregate will be stripped and regraded, before being re-laid on top of the new HDPE impermeable membrane system.

·      The installation specification of the HDPE impermeable membrane, associated protection layers and thickness and suitability of the stone covering layer, has been tested and validated in a laboratory against the maximum expected site loading, and agreed between the manufacturer and Egdon's consulting civil and structural engineers to ensure the HDPE impermeable membrane is protected throughout the life of the wellsite.

·      Although on inspection it was found to be in effective condition, the existing GCL membrane will remain in place but will no longer be relied upon as tertiary containment, as it is being overlaid with the new HDPE impermeable membrane system.

·      A Construction Quality Assurance plan will be used to ensure the installation of the lining system is robust and constructed to the highest engineering standards.

·      A poured reinforced concrete internal roadway will be constructed to provide even greater weight distribution and protection above the HDPE impermeable membrane in the most heavily trafficked area of the site.

·      The installation of a new HDPE impermeable membrane, which has been informed by the ground investigation report and designed and tested by Egdon's consulting civil and structural engineers, in consultation with, and in agreement with the manufacturer, along with other measures as detailed; comprehensively addresses the Inspectors concerns in relation to point b above.

·      In relation to point c., Egdon commissioned an independent Hydrogeological and Flood Risk Assessment (HRA) to address the uncertainty identified by the Inspector with regard to the near surface geology and specifically the presence of capping layers to the underlying aquifers.

·      The HRA defines a hydrogeological conceptual model (HCM) which has utilized regional, local and wellsite specific data, including the drilling of site investigation boreholes and laboratory testing for hydraulic conductivity of core samples from the two deeper cored boreholes drilled in Q1 2018.

·      These cores and tests provide conclusive evidence that demonstrates the existence of a laterally continuous impermeable claystone capping layer above the primary aquifer in the Lincolnshire Limestone Formation beneath the wellsite and more widely.

·      The HCM also demonstrates the presence of a capping layer to the Cornbrash secondary aquifer beneath the wellsite.

·      The HRA concludes that the assessed risks relating to all possible hazards associated with the proposed development, range from 'Low' to 'None'. The overall risk profile for the proposed development is a reflection of the high level of embedded mitigation within the design of the wellsite reconfiguration (as detailed above) and the construction of the existing Wressle-1 well.

·      The HRA confirms the detail of the near surface geology and hydrogeology, supporting the previously presented hydrogeological model and conclusively demonstrating the presence of a capping layer to the underlying aquifers. This together with the conclusions of the risk assessment, in the Company's view, fully addresses the final issue identified by the Inspector.

·      It is also proposed to install up to two new groundwater monitoring boreholes and to deepen three of the existing groundwater monitoring boreholes to verify the effectiveness of the embedded site environmental protection through ongoing monitoring.

Planning history:

On 11 January 2017, North Lincolnshire Council refused planning consent for the original application for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.

On 7 February 2017, Egdon announced that it would both appeal the decision of 11 January 2017 and in parallel submit a new Planning Application for the Wressle development which would include even more detailed information to address the specific concerns outlined by North Lincolnshire Council in their refusal.

On 11 April 2017, Egdon submitted an appeal against North Lincolnshire Council's decision to refuse planning consent.

On 28 April 2017, Egdon submitted a new application for the Wressle Development including additional detailed information to address the specific concerns raised by North Lincolnshire Council in its 11 January 2017 decision to refuse the original application for the development of the Wressle Oil Field.

On 19 May 2017, Egdon announced the issue by the Environment Agency of the variation to the Mining Waste Permit for the planned Wressle field development and associated operations.

On 3 July 2017, the new planning application was also refused.  The variation of the existing planning for the site requesting a twelve month extension was also refused at the same meeting.

During November 2017, a planning inquiry was held to consider the two appeals for development approval and the appeal of the variation of the existing planning for the site.  On 5 January 2018, we announced that the Inspector had rejected the appeals by Egdon against the two planning refusals by North Lincolnshire County Council's Planning Committee.  However, the Planning Inspectorate did uphold Egdon's appeal against the decision to refuse the application to retain the existing planning for the well site, which is was retained until the 28 April 2018.

A new application to extend the current planning consent was submitted on 13 April 2018 and is awaiting determination.

Egdon Resources plc (AIM:EDR) is pleased to announce the acquisition of an additional 5% interest in PEDL180 and PEDL182, which contain the Egdon operated Wressle oil discovery and Broughton North Prospect, from Celtique Energie Petroleum Limited.Under the terms of the agreement Egdon will acquire an additional 5% interest in PEDL180 and PEDL182 from Celtique Energie Petroleum Limited for a deferred cash consideration of £0.417m payable on commencement of production (“First Oil”). The effective date for the transaction is 1 January 2018.Union Jack Oil PLC (“UJO”, AIM: UJO) and Humber Oil & Gas Limited (“Humber”, private) will each also acquire 12.50% in both PEDL180 and PEDL182 from Celtique Energie Petroleum Limited on the same terms under separate deals.Egdon will shortly submit a new planning application for the Wressle development which has the benefit of information from additional site investigation boreholes and two deeper cored boreholes to ensure it addresses in detail the matters highlighted by the Inspector in his Decision Notice to refuse the planning appeals in January 2018. An application to extend the current planning consent for the Wressle site was submitted on 13 April 2018.The transaction is subject to approval from the Oil and Gas Authority. On completion, the interests in PEDL180 and 182 will becomeEgdon Resources U.K. Limited (Operator) 30.00%Europa Oil and Gas plc 30.00%Union Jack Oil Plc 27.50%Humber Oil & Gas Limited 12.50%Mark Abbott, Managing Director of Egdon Resources plc, said:“Today’s transaction underlines our confidence in the quality and deliverability of the Wressle project. We have been able to add to our existing material interest in the licences with the consideration deferred to the point of revenue generation from the Wressle field. The transaction emphasises our strategy to achieve a balanced business comprised of revenue generating conventional assets to complement the high-impact UK unconventional licences within our portfolio.”

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).The statement itself constitutes a material consideration in planning decisions (i.e. carries weight in law) and reiterates that shale gas development is of national importance. The Government will publish revised planning practice guidance on shale development in the summer. It will also launch two consultations in the period; one that will consider allowing exploration wells to be drilled under permitted development (i.e. without the requirement of a full planning application) and the other to consult on the inclusion of shale production projects into the Nationally Significant Infrastructure Projects regime.The full text of the WMS can be found atwww.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-05-17/HCWS690Commenting Mark Abbott, Managing Director of Egdon Resources plc, said:“Egdon welcomes the Government’s announcement today which emphasised the national importance that shale gas exploration and development has in delivering a safe and secure energy source, whilst meeting the country’s Climate Change obligations. In particular we welcome the measures the Government has introduced on making the planning process “faster and fairer” and providing additional resources to help stretched local authorities.Gas is used to heat more than 80% of the UK’s households and for cooking in more than 60% of the UK's homes. Whilst renewable sources of energy provide a growing share of our electricity, gas still accounts for nearly half. We currently import 50% of our gas needs at a significant financial cost to the UK taxpayer - over £13 million a day - and that figure is set to grow to almost 80% by 2035.The UK’s gas reserves contribute to ensuring the country has a secure, affordable and low carbon energy source.”

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”

TR-1: Standard form for notification of major holdingsNOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)ⁱ1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedⁱⁱ:EGDON RESOURCES PLC1b. Please indicate if the issuer is a non-UK issuer  (please mark with an “X” if appropriate)Non-UK issuer2. Reason for the notification (please mark the appropriate box or boxes with an “X”)An acquisition or disposal of voting rightsXAn acquisition or disposal of financial instrumentsAn event changing the breakdown of voting rightsOther (please specify)ⁱⁱⁱ: Transfer out of holdings by discretionary clients.3. Details of person subject to the notification obligation^ivNameCANACCORD GENUITY GROUP INCCity and country of registered office (if applicable)VANCOUVER, CANADA4. Full name of shareholder(s) (if different from 3.)^vNameDISCRETIONARY CLIENTSCity and country of registered office (if applicable)As above5. Date on which the threshold was crossed or reached^vi:27 APRIL 20186. Date on which issuer notified (DD/MM/YYYY):30 APRIL 20187. Total positions of person(s) subject to the notification obligation% of voting rights attached to shares (total of 8. A)% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)Total of both in % (8.A + 8.B)Total number of voting rights of issuer^viiResulting situation on the date on which threshold was crossed or reached10.408510.4085259,984,822Position of previous notification (ifapplicable)9.95859.95858. Notified details of the resulting situation on the date on which the threshold was crossed or reached^viiiA: Voting rights attached to sharesClass/type ofsharesISIN code (if possible)Number of voting rights^ix% of voting rightsDirect(Art 9 of Directive 2004/109/EC) (DTR5.1)Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)Direct(Art 9 of Directive 2004/109/EC) (DTR5.1)Indirect(Art 10 of Directive 2004/109/EC) (DTR5.2.1)GB00B28YML2927,060,57110.4085SUBTOTAL 8. A27,060,57110.4085B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))Type of financial instrumentExpirationdate^xExercise/Conversion Period^xiNumber of voting rights that may be acquired if the instrument is exercised/converted.% of voting rightsSUBTOTAL 8. B 1B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))Type of financial instrumentExpirationdate^xExercise/Conversion Period ^xiPhysical or cash settlement^xiiNumber of voting rights % of voting rights SUBTOTAL 8.B.29. Information in relation to the person subject to the notification obligation (please mark theapplicable box with an “X”)Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer^xiiiFull chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv (please add additional rows as necessary)XName^xv% of voting rights if it equals or is higher than the notifiable threshold% of voting rights through financial instruments if it equals or is higher than the notifiable thresholdTotal of both if it equals or is higher than the notifiable thresholdCanaccord Genuity Group Inc.10.408510.4085Canaccord Genuity Wealth Group Holdings Limited10.408510.4085Canaccord Genuity Wealth Group Holdings (Jersey) Limited10.408510.4085Hargreave Hale Ltd10.408510.4085 10. In case of proxy voting, please identify:Name of the proxy holderThe number and % of voting rights heldThe date until which the voting rights will be held11. Additional information^xviPlace of completionBLACKPOOL, ENGLANDDate of completion30 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.  

Egdon Resources plc (AIM:EDR), the UK-based exploration and production company with a primary focus on the onshore UK, announces its unaudited interim results for the six months ended 31January 2018 (‘the period’).Overview and HighlightsOperational and Corporate

• Conclusion of legal agreements and commencement of site construction at Springs Road where the operator IGas has advised it expects to commence drilling around mid-2018
• Following rejection by the Planning Inspectorate of Egdon’s appeals against the two planning refusals in respect of the development of the Wressle oil discovery, Egdon announced its intention to submit a new planning application to address in detail all matters highlighted by the Inspector in his Decision Notice and to also make an application to extend the existing planning for the wellsite
• Acquisition of 100% interest in Promote Licence P2304 from Arenite Petroleum Limited and Europa Oil & Gas Limited resulting in an expanded core area to the south of the Resolution offshore gas discovery
• Completion of the acquisition of the producing Fiskerton Airfield oil field in Lincolnshire licence EXL294 and subsequent sale of 20% interest to Union Jack Oil plc to balance financial exposure
• Production of 17,962 barrels of oil equivalent (“boe”) (98 barrels of oil equivalent per day “boepd”) (H1 2017: 16,882 boe; 94 boepd)

Financial Performance

• Oil and gas revenues during the period £0.51 million (H1 2017: £0.51 million)
• Loss for the period of £0.85 million (H1 2017: loss of £0.73 million)
• Cash at bank of £4.10 million (H1 2017: £6.80 million)
• Net current assets as at 31 January 2018 of £5.08 million (H1 2017: £8.00 million)
• The Company has no debt (H1 2017: Nil)

Post-Period Events

• Farm-out of interests in PEDL253 (Biscathorpe) to Union Jack Oil plc and Humber Oil & Gas Limited
• Workovers completed of two wells at Fiskerton Airfield with production increased to approaching 30 barrels of oil per day (“bopd”), ahead of further optimisation, an increase of 14 bopd from pre workover levels
• Planning application submitted on 13 April 2018 to extend existing planning consent at the Wressle wellsite for a period of 12 months from the decision date
• Additional site investigation boreholes and two deeper cored boreholes completed to support a new planning application for Wressle field development due for submission within the next month
• Submission of planning applications to extend existing consents for a further 3 years at both North Kelsey and Biscathorpe
• Encouraging Results from third party activity includes the drilling of UK’s first horizontal shale gas well at Preston New Road in Lancashire by Cuadrilla

Commenting on the results, Philip Stephens, Chairman of Egdon said“ Aftera busy and productive six months, we are confident that we will make further progressin the second half of the year, especially on two important fronts. Firstly, after many setbacks, we hope to be successful in gaining planning permission in order to allow us to develop our conventional oil discovery at Wressle. Secondly, we await the drilling of the first well at Springs Road where we have a carried interest in this significant unconventional prospect in the Gainsborough Trough. Success in these prospects will significantly enhance our future.Whilst challenges no doubt remain, the UK shale business is gaining considerable traction with the completion recently of the first horizontal shale gas well in Lancashire. With an increased level of industry activity due to take place over the coming months, we believe the spotlight will shine more brightly on this exciting space, and Egdon’s sizeable acreage position ensures we represent a compelling vehicle for investors to benefit from the eventual uptick in much needed onshore activity.”An audiocast of the Results Presentation is available to view via the following link with immediate effect: http://vm.buchanan.uk.com/2018/egdon170418/registration.htmView or download Full 2018 EDR Interim Results

view or download 3i Infrastructure plc - TR1

Egdon Resources plc (AIM:EDR) announces that Paul Jenkinson is to step down from his role as a non-executive Director of the Company with immediate effect. This follows his resignation from the board of Alkane Energy Ltd (“Alkane”) following its acquisition by Infinis Energy Management Limited. Alkane holds 40,000,000 shares in Egdon Resources plc constituting a 15.39% shareholdingCommenting on Paul’s resignation, Philip Stephens, the Chairman of Egdon Resources said:“On behalf of the Board I would like to offer my thanks to Paul for his contribution to Egdon over the last two years”.

Egdon Resources plc (AIM:EDR) advises that its application to extend to December 2020, the existing planning permission to drill an exploratory conventional oil well (North Kelsey-1) on farmland off Smithfield Road, North Kelsey, Brigg, Lincolnshire was deferred at today’s meeting of the Lincolnshire County Council Planning Committee. A decision will be taken once the Planning Committee has undertaken a site visit.Commenting on the meeting outcome, Mark Abbott, Managing Director of Egdon Resources plc, said:“Today’s deferral is frustrating given the strong case presented and the positive recommendation of Lincolnshire County Council’s Planning Officer in respect of the application. We will provide an update once we know when Egdon’s application will be heard at Lincolnshire County Council’s Planning Committee Meeting.”

Egdon Resources plc (AIM:EDR) announces that its Interim Results for the six months ended 31 January 2018 will be released on Tuesday, 17 April 2018.An audiocast of the Results Presentation will be available on the Company’s website from 7am GMT on 17 April 2018.

Egdon Resources plc (AIM:EDR) is pleased to announce it has signed a Farm-out Agreement in respect of a further 5% interest in PEDL253 with Humber Oil & Gas Limited (“Humber”, a private company) under the same terms as the farm-out previously announced on 5 and 20 March. PEDL253 is located in Lincolnshire and contains the Biscathorpe Prospect, scheduled for drilling around mid-2018.Humber will acquire a further 5% of Egdon’s interest in PEDL253 by paying their pro-rata share of the Biscathorpe-2 well cost plus an additional £50,000 (£10,000 per percentage point interest acquired). Humber will also acquire an additional 5% from Montrose Industries Limited’s interest in PEDL253 under the same terms.The Biscathorpe Prospect is located on the southern margin of the Humber Basin on trend with, and to the west of, the producing Keddington oil field (Egdon operated).The Biscathorpe-2 well will target a conventional sandstone reservoir of Westphalian (Carboniferous) age in an area of the structure where the sandstone is predicted to thicken away from Biscathorpe-1 (BP, 1987) which found oil in a 1.2 metres thick sandstone. The Mean Gross Prospective Resources at Biscathorpe are estimated by Egdon to be ca. 14 million barrels of oil.The transaction is subject to approval from the Oil and Gas Authority. On completion, the interests in PEDL253 will become:Egdon Resources U.K. Limited (Operator)35.80% (22.53% share of well cost*)Montrose Industries Limited. 22.20% (12.76% share of well cost*)Union Jack Oil Plc 22.00% (37.57% share of well cost*)Humber Oil & Gas Limited 20.00 % (27.14% share of well cost*)* at the current estimated well cost

Further to the announcement of 5 March 2018 Egdon Resources plc (AIM:EDR) is pleased to announce that it has signed a definitive Farm-out Agreement in respect to interests in PEDL253 to Union Jack Oil PLC (“UJO”, AIM: UJO) and Humber Oil & Gas Limited (“Humber”,private). PEDL253 is located in Lincolnshire and contains the Biscathorpe Prospect, scheduled for drilling around mid-2018.Under the terms already announced, UJO and Humber will each acquire 6% of Egdon’s interest in PEDL253 by paying their pro-rata share of the Biscathorpe-2 well cost plus an additional £10,000 per percentage point interest acquired. This is equivalent to a farm-in with a 1.36 times promote at the estimated well cost. UJO and Humber will also each acquire 4% of Montrose Industries Limited’s interest in PEDL253 under the same terms.The transaction remains subject approval from the Oil and Gas Authority. On completion the interests in PEDL253 will become:Egdon Resources U.K. Limited (Operator)40.80% (29.31% share of well cost*)Montrose Industries Limited. 27.20% (19.54% share of well cost*)Union Jack Oil Plc 22.00% (37.57% share of well cost*)Humber Oil & Gas Limited 10.00 % (13.57% share of well cost*)* at the current estimated well cost

Egdon Resources plc (AIM:EDR) is pleased to announce that it has reached agreement on Heads of Terms in respect of a farm-out of interests in PEDL253 to Union Jack Oil PLC (“UJO”, AIM: UJO) and Humber Oil & Gas Limited (“Humber”,private). PEDL253 is located in Lincolnshire and contains the Biscathorpe Prospect, scheduled for drilling around mid-2018.Under the agreed terms, UJO and Humber will each acquire 6% of Egdon’s interest in PEDL253 by paying their pro-rata share of the Biscathorpe-2 well cost plus an additional £10,000 per percentage point interest acquired. This is equivalent to a farm-in with a 1.36 times promote at the estimated well cost. UJO and Humber will also each acquire 4% of Montrose Industries Limited’s interest in PEDL253 under the same terms.The Biscathorpe Prospect is located between Lincoln and Louth. It lies on the southern margin of the Humber Basin on trend with, and to the west of, the producing Keddington oil field (14 kilometres, Egdon operated) and the Saltfleetby gas field (20 kilometres).The Biscathorpe-2 well will target a down-dip area of the structure which was tested in a crestal position by the Biscathorpe-1 well drilled in 1987 by BP which found oil in a 1.2 metres thick sandstone of Westphalian (Carboniferous) age. The structure has been mapped using reprocessed 3D seismic data and the sandstone is predicted to thicken to the north and east away from the Biscathorpe-1 well. The Mean Gross Prospective Resources at Biscathorpe are estimated by Egdon to be ca. 14 million barrels of oil and the well has been assessed by the Company as having a 40% chance of success.The transaction is subject to contract and approval from the Oil and Gas Authority. On completion the interests in PEDL253 will become:Egdon Resources U.K. Limited (Operator)40.80% (29.31% share of well cost*)Montrose Industries Limited. 27.20% (19.54% share of well cost*)Union Jack Oil Plc 22.00% (37.57% share of well cost*)Humber Oil & Gas Limited 10.00 % (13.57% share of well cost*)* at the current estimated well costMark Abbott, Managing Director of Egdon Resources plc, said:“We are pleased to have achieved our objective of balancing our financial exposure and technical risk on the near-term Biscathorpe-2 well. We welcome both Humber Oil & Gas as a new partner and UJO’s increased participation in PEDL253. We now look forward to drilling this high potential conventional oil prospect around mid-2018.”

Egdon notes that the operator Europa Oil & Gas (Holdings) plc, made the following RNS Reach announcement on 19 February 2018 concerning the Holmwood Exploration well where Egdon has an 18.4% carried interest:“Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to note a draft decision advertisement issued by the Environment Agency on 15 February (http://bit.ly/2C3rPDh ) that it is inclined to award a bespoke environmental permit for drilling and testing the Holmwood exploration well in PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. Further information can be found on the Environment Agency website http://bit.ly/2Eu00ph.A four-week public consultation process runs from 15 February to 15 March. The Environment Agency issued a press release on 16 February regarding the consultation process. For further information, follow this link:  http://bit.ly/2Buoa05 . Hugh Mackay CEO said “We are pleased to have reached this important stage in the environmental permitting process. Whilst we are still in the determination process and a final decision has not been made, it is nonetheless positive that the Environmental Agency is inclined to approve.  We look forward to the outcome of the consultation process and will keep shareholders updated.”"

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Egdon Resources plc (AIM:EDR) can advise the forward plan for the Wressle oil field development following the decision made by the Planning Inspector issued on 4 January 2018, to reject the appeals by Egdon against the two planning refusals by North Lincolnshire Council’s Planning Committee.

• Having taken legal and planning advice and having fully considered the specific reasons for rejection of the appeals as set out by the Inspector in his Decision Notice, the Company can advise that it will now:Prepare and submit a new planning application to North Lincolnshire Council seeking its consent for the Wressle oil field development. This application, which will be submitted prior to the expiry of the current planning consent, will address in detail all matters highlighted by the Inspector in his Decision Notice to dismiss the appeals; and

• Prepare and submit a new application to North Lincolnshire Council to extend the current planning consent (which now expires on 28 April 2018 following our successful appeal) to ensure that North Lincolnshire Council has sufficient time for consideration of the new application and to maintain consent for the current site.

We remain fully prepared to take these new planning applications through the appeals process should they be delayed or refused.In addition, we continue to take legal advice in respect of the Decision Notice.Mark Abbott, Managing Director of Egdon Resources plc, said:“Egdon and its joint venture partners remain fully committed to the Wressle project and the proposed new application will address the limited reasons for refusal highlighted by the Inspector. I look forward to updating the market on Wressle in due course.Elsewhere within Egdon’s extensive portfolio, the coming period will see potentially high impact drilling activity at Springs Road, Biscathorpe, Holmwood and possibly North Kelsey, and the results of workovers at Fiskerton Airfield. We are also developing plans for the Keddington, Kirkleatham, Dukes Wood/Kirklington and Waddock Cross fields which will benefit from the improving oil price.”Wressle:The Wressle-1 well was drilled in 2014 and tested in 2015. The Wressle-1 well has flowed oil and gas from three separate reservoirs, the Ashover Grit, the Wingfield Flags and the Penistone Flags. This totalled 710 barrels of oil equivalent per day from all zones. In September 2016 a Competent Person’s Report made independent estimates of Reserves and Contingent and Prospective oil and gas Resources for the Wressle discovery of 2.15 million stock tank barrels classified as discovered (2P+2C). Further information can be found at our Wressle Oil and Gas Discovery page https://www.egdon-resources.com/home/project-sites/wressle/Wressle Planning historyOn 11 January 2017, North Lincolnshire Council refused planning consent for the original application for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.On 7 February 2017, Egdon announced that it would both appeal the decision of 11 January 2017 and in parallel submit a new Planning Application for the Wressle development which would include even more detailed information to address the specific concerns outlined by North Lincolnshire Council in their refusal.On 11 April 2017, Egdon submitted an appeal against North Lincolnshire Council’s decision to refuse planning consent.On 28 April 2017, Egdon submitted a new application for the Wressle Development including additional detailed information to address the specific concerns raised by North Lincolnshire Council in its 11 January 2017 decision to refuse the original application for the development of the Wressle Oil Field.On 19 May 2017, Egdon announced the issue by the Environment Agency of the variation to the Mining Waste Permit for the planned Wressle field development and associated operations.On 3 July 2017, the new planning application was also refused. The variation of the existing planning for the site requesting a twelve month extension was also refused at the same meeting.During November 2017, a planning inquiry was held to consider the two appeals for development approval and the appeal of the variation of the existing planning for the site. On 5 January 2018, we announced that the Inspector had rejected the appeals by Egdon against the two planning refusals by North Lincolnshire County Council’s Planning Committee. However, the Planning Inspectorate did uphold Egdon’s appeal against the decision to refuse the application to retain the existing planning for the well site, which is now retained until the 28 April 2018.

Egdon Resources plc (AIM:EDR) can advise that the Planning Inspectorate has issued its decision in respect of the Wressle Planning Inquiry. The decision made by the Inspector is to reject the appeals by Egdon against the two planning refusals by North Lincolnshire County Council’s Planning Committee in respect of the development of the Wressle oil discovery in licences PEDL180 and PEDL182.However, the Planning Inspectorate has advised that it did uphold Egdon’s appeal against the decision to refuse the application to retain the existing planning for the well site, which is now retained until the 28 April 2018.Mark Abbott Managing Director of Egdon Resources plc, said:“The decision of the Planning Inspectorate is clearly highly disappointing given the strong case presented at the inquiry, the previous positive recommendations of North Lincolnshire County Council’s Planning Officer in respect of the applications and the issue of an Environmental Permit for the proposed development which was determined after an extensive and thorough review of our proposals.The Planning Inspectorate’s decision to uphold our appeal for the extension of the original Wressle exploration well planning consent gives us some time to consider our next steps.We will now take the opportunity to consider in detail the reasons for the refusals as contained in the decision notice and review the options available to us. We will provide a further update in the next few days.”