30 June 2017
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Wressle Update: Planning Meeting Announced
Upland Resources Limited., the oil and gas company actively building a portfolio of attractive upstream assets, notes that the North Lincolnshire County Council's Planning Committee will meet at 2pm on Monday the 3rd of July 2017 to review the planning application for the Wressle Development. The meeting will be held at the North Lincolnshire Council Civic Centre in Scunthorpe.
As Operator of UK onshore petroleum exploration and development licences ("PEDLs") 180 and 182, Egdon Resources ("Egdon") submitted a new Planning Application for the Wressle Field Development to the North Lincolnshire Council ("the Council") on 28 April 2017. As noted in Egdon's announcement this morning, this new application includes additional detailed information to address the specific concerns raised by the Council in its 11 January 2017 decision to refuse the original application.
The new application has received a recommendation for approval from North Lincolnshire County Council's Planning Department.
Upland's wholly-owned subsidiary, Upland Resources (UK Onshore) Limited ("Upland UK"), entered into a conditional agreement dated 24 November 2016 for the farm-in by Upland UK (by way of assignment from Europa Oil & Gas Limited) to a 10% interest in each of PEDLs 180 and 182, including the Wressle Field development (the "Wressle Farm-in Agreement"). Completion of the Wressle Farm-in Agreement is conditional on receipt of certain planning and other approvals which may be waived at Upland's discretion.
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Notes
Upland is an upstream oil & gas company whose highly experienced management has a track record of creating major value for shareholders in junior oil & gas companies, including Cove Energy plc. The Company has extensive technical and commercial skills and contacts, management having held senior roles in Petronas, Conoco, Shell etc. Upland is taking advantage of the current market conditions to acquire quality upstream assets on attractive terms.
Full text of Egdon Resources' announcement
"Egdon Resources plc (AIM:EDR) notes that North Lincolnshire County Council's Planning Committee will meet on Monday 3 July 2017 to determine the new planning application for the Wressle Development which includes additional detailed information to address the specific concerns raised by North Lincolnshire County Council in its 11 January 2017 decision to refuse the original application.
The new application has received a recommendation for approval from North Lincolnshire County Council's Planning Department.
The meeting will be held at 2pm Monday 3 July 2017 at North Lincolnshire Council Civic Centre in Scunthorpe.
We will update shareholders of any developments from this meeting."
