How serious is Wressle setback for Edgon Resources?

Company’s appeal over key project is rejected by planning authority
On 5 January it emerged that the Planning Inspectorate had unexpectedly upheld a decision to block the development of the Wressle oil discovery in North Lincolnshire. The operator of the field, Egdon Resources ( EDR:AIM ) and its partners Union Jack Oil ( UJO:AIM ) and Europa Oil & Gas ( EOG:AIM ) all suffered big share price falls. In particular, Egdon fell 1.44p to 6.7p in the immediate...

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The value of your investments can go down as well as up and you may get back less than you originally invested. We don't offer advice, so it's important you understand the risks, if you're unsure please consult a suitably qualified financial adviser. Tax treatment depends on your individual circumstances and rules may change. Past performance is not a guide to future performance and some investments need to be held for the long term.