Europa Oil & Gas Holdings Plc (LON:EOG) has maintained positive in its support for the Wressle oil project, in Lincolnshire, despite yet another disappointment in efforts to secure planning permission to develop the field.
Late in Wednesday’s session, it was announced that Wressle project operator Egdon Resources had been frustrated again as the North Lincolnshire Council Planning Committee refused the new application for planning consent.
Egdon is operator with a 30% stake and it intends to submit an appeal against the decision without delay and it said it will begin preparing the appeal documentation once it receives the council committee refusal letter.
“The decision of the committee, whilst not entirely unexpected, is nonetheless disappointing given that the application had been recommended for approval by North Lincolnshire council’s own professional planning officer who had the benefit of a positive assessment by specialist independent technical consultants,” said Mark Abbott, Egdon Resources chief executive.
“We agree with the conclusion of the planning officer and the independent consultants and strongly believe the new application for the development of the Wressle oil field fully and comprehensively addresses the reasons for the refusal of the original planning applications and the subsequent appeals and therefore intend to appeal this decision without delay.”
Europa, which owns a 30% stake in Wressle, in its own statement backed Egdon.
“Located in the heart of the East Midlands Petroleum province, recommended for development by the council’s own planning officer as well as independent consultants, and with the potential to generate meaningful production revenues for Europa, we believe the case for bringing the Wressle discovery into production is strong.
“We therefore fully support the operator’s continued efforts to advance Wressle, starting with the preparation of the appeal documentation as soon as possible.”