The partners of an onshore oil and gas discovery located in the “heart of the East Midlands petroleum province” have vowed to fight North Lincolnshire Council’s refusal to grant planning permission.
The operator, Egdon Resources having consulted with the Joint Venture partners and having taken further detailed advice, have informed the JV that they will submit a formal appeal against the refusal of planning consent at the earliest opportunity.
In addition, Egdon have also stated that they will in parallel submit a new planning application for the Wressle development which will include even more detailed information to address the specific concerns outlined by the North Lincolnshire Council in their refusal.
Egdon will look to progress both the new application and the appeal through the planning system as quickly as possible.
Egdon owns the operator interest of 25%. Europa Oil & Gas owns a working interest of 25%. Celtique Energie Petroleum owns 33.3% and Union Jack Oil owns 11.67%.
Union Jack chairman David Bramhill said: “The Joint Venture is supportive of the dual approach taken by Egdon to resolve this situation with the minimum of delay.
“For Union Jack, it is very much business as usual and plans for the preparation of drilling of Biscathorpe-2 and Holmwood-1 conventional wells continue in respect of what the Company considers to be two excellent prospects, both with significant volumetric potential if successful and moderate geological risk.
“Union Jack has a current cash balance in excess of £1,800,000 and receives a modicum of cash flow from its 10% interest in the Keddington oil field. The ~Company is fully funded for its current drill programme.”
Europa’s chief executive Hugh Mackay added: “Wressle is located in the heart of the East Midlands petroleum province and at an anticipated gross rate of 500 bopd would almost double our existing production based on a 20%* interest. We are keen to see this conventional oil field brought into production as soon as possible.”
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