Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas
18 October 2024
Europa Oil & Gas (Holdings) plc
("Europa" or the "Company")
Wressle Planning Update
Europa Oil & Gas (Holdings) plc, the AIM quoted UK, Ireland and West Africa focused oil and gas exploration, development and production company, advise that further to the RNS dated 17 October 2024 the operator of Wressle, Egdon Resources UK Limited ("Egdon") has now been informed by North Lincolnshire Council ("NLC") that following receipt of legal opinion and in light of the Finch Supreme Court decision, NLC will not seek to resist the proposed legal challenge brought in respect of NLC's decision to grant the planning consent for further development of the Wressle well site (see RNS dated 16 September 2024). The proposed legal challenge is based on NLC omitting to consider the likely Scope 3 GHG (Greenhouse gas) emissions in determining if the proposed development required an Environmental Impact Assessment.
Having sought their own legal advice, the Wressle Joint Venture partners have concluded they would not be in a position to defend the proposed legal claim. As such it is fully expected that the planning consent will be quashed once the court process has concluded.
The forward plan, on conclusion of the court process, is to seek a new screening opinion from NLC with additional supporting data that details the likely Scope 3 GHG (Greenhouse gas) emissions. Depending on the outcome of this screening opinion either the existing "live" application would be redetermined by NLC or an Environmental Impact Assessment would be submitted.
This decision has no effect on the ongoing current operations or production at Wressle, which remains profitable.
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For further information, please visit www.europaoil.com or contact:
| William Holland
| Europa Oil & Gas (Holdings) plc | mail@europaoil.com |
| Samantha Harrison / Ciara Donnelly / Elliot Peters
| Grant Thornton UK LLP - Nominated Adviser | +44 (0) 20 7383 5100 |
| Peter Krens
| Tennyson Securities | +44 (0) 20 7186 9033 |
| Patrick d'Ancona / Finlay Thomson / Kendall Hill | Vigo Consulting | +44 (0) 20 7390 0230 |
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