A volatile but positive week for shale gas planning
Nottinghamshire County Council’s deferral of its decision on the Springs Road planning application (PEDL140, in which Egdon has a 14.5% carried interest) was a minor setback. Nevertheless, this was more than offset, from a sentiment perspective, by news that Cuadrilla has received approval to drill and frack at Preston New Road, Lancashire. While it is likely that this decision will be subject to appeals from anti-fracking campaigners, it cements the Conservative view that shale gas has potential to be of significant benefit to the UK economy from a financial, employment and security perspective. Energy price inflation post Brexit has helped emphasise this viewpoint.Egdon Resources is an onshore U.K. focused oil and gas exploration and production business. As of Jul 31 2017, Co. had net proven plus probable oil reserves of 0.6 million barrels and net proven plus probable gas reserves of 1.18 billion cubic feet.
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