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Egdon Resources PLC - Gloucestershire, England-based energy exploration and production company - Says it is disappointed by the reintroduction of the moratorium on hydraulic fracturing for shale-gas by Grant Schapps, the Secretary of State for the Department of Business, Energy and Industrial Strategy.
Calls the reintroduction, which comes just a few weeks after the lifting of the ban, a "highly disappointing and illogical move".
Managing Director Mark Abbott says: "The decision prevents the immediate development of a safe and secure indigenous source of gas and if maintained, locks the UK into long term reliance on more carbon intensive LNG imported from Qatar, the shale-gas fields of the USA and elsewhere."
Current stock price: 2.67 pence, down 4.0% on Friday
12-month change: up 38%
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