Egdon Resources plc has been refused planning permission for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site (PEDL253) in Lincolnshire. OPTIONS The county council’s planning committee rejection is against the council’s planning officers recommendation to approve the operator’s plans. The project’s joint venture partner Union Jack Oil plc (45%) […]
Tag: PEDL253
Union Jack increases stake in Biscathorpe for £1m
Union Jack Oil plc (UJO) today said it now held 45% interest in the Biscathorpe joint venture project PEDL253 after buying a 15% stake from Humber Oil & Gas for £1 million. TERMS Other shareholders of the licence include operator Egdon Resources UK Ltd with 35.8% and Montrose Industries Ltd 19.2%. UJO will pay £500,000 […]