Egdon to reapply for Wressle development

June 4, 2018
Egdon Resources PLC said it soon will submit a new planning application to develop its Wressle oil discovery in the UK after acquiring 5% interests each in onshore Petroleum Exploration and Development Licenses 180 and 182 from Celtique Energie Petroleum Ltd.

Egdon Resources PLC said it soon will submit a new planning application to develop its Wressle oil discovery in the UK after acquiring 5% interests each in onshore Petroleum Exploration and Development Licenses 180 and 182 from Celtique Energie Petroleum Ltd.

Celtique also is selling 12.5% interests in the licenses each to partners Union Jack Oil PLC and Humber Oil & Gas Ltd.

Wressle development would not involve hydraulic fracturing, which has encountered political resistance in England, the only UK country where it is allowed. But its original application was rejected by local authorities (OGJ Online, July 3, 2017).

Egdon said its new planning application will have additional information from site-investigation boreholes and two deeper cored boreholes that addresses concerns raised by officials.

Interests after the Celtique transactions will be Egdon and Europa Oil & Gas PLC, 30% each; Union Jack Oil, 27.5%; and Humber Oil & Gas, 12.5%.