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Europa Oil & Gas Holdings boosted as Wressle clears major regulatory hurdle

The Wressle partners are confident that the Environment Agency’s comprehensive assessment and positive conclusion will be reflected in the outcome of the new planning application.”
onshore drilling operation
It supports the new planning application, submitted last month

Europa Oil & Gas (Holdings) Plc (LON:EOG) told investors the Wressle project has cleared a major regulatory milestone with the Environment Agency issuing a variation to the project’s mining waste permit.

It supports the new planning application for the project, which was submitted last month.

“The Environment Agency has taken a long hard look at the partners’ development plans for Wressle and determined that the procedures we propose will prevent, mitigate and minimise any environmental impact at the site,” said Hugh Mackay, Europa chief executive.

“With this in mind, the partners are confident that the Environment Agency’s comprehensive assessment and positive conclusion will be reflected in the outcome of the new planning application.”

Europa owns a 30% stake in Wressle - though it has agreed to sell 10% to Upland Resources – with partners Egdon Resources Ltd (LON:EDR), Celtique Energy and Union Jack Oil PLC (LON:UJO) owning 25%, 30% and 15% respectively.

Egdon managing director Mark Abbott said: “This validates our position that the planned operations and procedures will prevent, mitigate and minimise environmental impacts.

“Egdon takes its safety, environmental and social obligations very seriously and is committed to maintaining the highest standards.  We are confident that this will be recognised in the outcome of the new planning application."

David Bramhill, Union Jack Oil chief executive, meanwhile, described it as a further positive step towards the Wressle discovery.

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Europa Oil & Gas (Holdings) Plc Timeline

December 14 2017

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