StockMarketWire.com - Egdon Resources and partners including Union Jack Oil and Europa Oil & Gas confirmed that UK regulators had approved an extension of the existing planning consent by a year for the Wressle discovery in Lincolnshire.

The original application had been refused by North Lincolnshire Council's planning committee on 1 August 2018, despite having been recommended for approval by their planning officer.

'This extension to the existing planning consent to 24 January 2020 should allow the required time for the determination of an appeal against the refusal on 28 November 2018 by the Council's Planning Committee of the company's application for the development of the Wressle oil field,' Egdon said.

Wressle-1 was drilled in 2014 and tested in 2015, flowing a combined 710 barrels of oil equivalent a day.

Egdon operates and owns 30% of the prospect, while Europa Oil and Gas, Union Jack Oil and Humber Oil have interests of 30%, 27.5% and 12.5%, respertively. 'To echo the thoughts of our joint venture partners in this potentially company making project, we are very pleased that the planning inspector supported the operator's position in relation to this appeal,' Union Jack chief executive David Bramhill said.

'Following this positive outcome, we now look forward to the planning inspector considering at a future public enquiry an appeal against the further refusal by the council on the 28 November 2018 of the revised development proposals for Wressle.'

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