Egdon Resources - Wressle planning appeal rejected
The Planning Inspectorate has rejected the appeals by Egdon against the two refusals by North Lincolnshire County Council’s planning committee for the Wressle oil development. The Planning Inspectorate did uphold Egdon’s appeal against the decision to refuse the application to retain planning for the well site, which will be retained until 28 April 2018. This is clearly disappointing news for the company. In our last published valuation for Egdon, we had assumed a production and positive cash flow contribution from Wressle in late 2018, with the asset making up 1.5p/share of our 21.5p/share conventional NAV or 7.0%. Our forecasts and valuation are under review.
- Unlock all research summaries
- Follow top, independent analysts
- Receive personalised alerts and emails
- Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.
- Egdon Resources - Wressle planning appeal rejected05 Jan 2018