Edge Res Share Discussion Threads

[bigt20] 07/1/2016 11:08

If I remember correctly, US$32 was mentioned as our cost of production (pre the water separation facility) - presumably that was the all in (full) cost? Is my memory correct?

[bigt20] 07/1/2016 11:06

Would a drop to say US$20 finally shake unsustainable production out of the market plus the covering of shorts (as people think the market has hit bottom)?

[bigt20] 04/1/2016 07:37

belgrano2,

People think the USA is a free market economy....ho hum!

[belgrano2] 02/1/2016 20:12

hi big T20,

Its ironic now that now USA can export its crude with first cargoes having already left, that its actually cheaper to export crude to europe, refine it and ship it back to the USA as mogas. Thats due to the shipping rule that has not been repealed that inter state crude cargoes must use a USA registered ship and crew, thats almost $7 on a barrel compared to £1.5-$2, each way across the atlantic.

[carpadium] 31/12/2015 17:29

So endeth one total pig of a year, may all never see the like of again.

On a hopefully encouraging note, wished Brad a good Christmas etc and gently enquired as to deal progress, his reply .. The team is working through the break. Hoping to bring the miracle to life!

Agreed by all! Who knows, the right deal could see us doing a PANR, ie x6 in a very short period of time. Here's to it and a change in fortunes to all in 2016.

[flyingbull] 31/12/2015 13:08

The monthly oil stock competition for January 2016 as well as the 2016 annual oil competition are now open for entries. Deadline for entries for both competitions is midnight on Sunday, 3 January 2016. All the best in 2016!!!

[sleveen] 30/12/2015 07:25

BigT20

That's my understanding too.

[bigt20] 30/12/2015 01:54

Am I right in thinking that WTI has closed up on Brent because the US are now allowed to export their crude?

[belgrano2] 25/12/2015 08:43

Yes happy Christmas everyone.
Can I thank everyone who has contributed to this board over the year, I really appreciate all the information so kindly shared.

Being in the UK oil industry its good to see WTI prices now above crude, more of a level playing field for UK refiners.

[carpadium] 24/12/2015 09:04

No idea what type of rabbit Brad's trying to pull from the hat but it had better be a bloody large one and soon. We can only hope and wait.

Good wishes to all and here's to inner peace and prosperity in 2016 after a complete absence of both this year.

[jamesiebabie] 24/12/2015 08:05

Happy Xmas to all and I second BT20 post; we need to hang on in there.

Luckily I have other shares in other sectors which are doing well, so the pain is softened.

We just need BN and the team to guide us through these difficult times.

[bigt20] 23/12/2015 18:18

A week and no posts! Merry Xmas everyone.

We just need to hang in there.........

[lazarus2010] 16/12/2015 10:50

sp on TSX is 0.04, just under 2p at C$2.06 to the £, not allowing for any spread there

[carpadium] 16/12/2015 08:38

Further to 3555...

[jamesiebabie] 16/12/2015 08:16

Thanks folks for the support; it is appreciated.

[sleveen] 16/12/2015 07:53

Credit to Brad for that.

JB

I hope everything goes as well as it can. Best wishes to you and yours.

[carpadium] 15/12/2015 19:06

In an email to Brad I mentioned my surprise at Twin Butte's situation, his comment in reply worthy of posting ..

I’ve been ranting about these large juniors that decided to pay dividends in order to attract investment that they all had an expiry date – Twin Butte and Spyglass Resources are just two examples that have proved dividend payers cannot also be large growth companies. It was great for management, who got a bunch of stock in the early days on the cheap – they’re all millionaires now because they’ve paid themselves tens of millions of dollars in dividends. I’m sure none of them are as upset as their shareholders who paid up to 100x more for their stock than management did, meaning their shareholders likely took home up to 100x less in dividend payments over the years. It was never sustainable and there are many people on fixed incomes that have lost significantly, due to this completely flawed and doomed dividend strategy for a junior company. It’s a shame.

Unlike others and to his credit his approach is to deliver share value equally to all holders. All he has to do, as Laz points out, is make sure we stay in the game!

[lazarus2010] 15/12/2015 11:49

BigT, thanks.

JB, I hope the op's have been a success.

Looks like TButte might need to offload some assets, but I would doubt that they would offload anything remotely profitable unless it was at a very decent price or they were forced into it by the banks. Instead of TB, I am sure we are looking for bank liquidations where we can pay cents on the dollar...if that is possible.

Another Canadian company Touchstone Exploration has sold a lot of its Canadian assets recently in order to focus on Trinidad assets, and are paying $20.8mln for close to 1500bopd (from Trinity) of contiguous assets which come without any of Trin's overheads, so they will have big cost savings by managing the assets from existing internal resources. I still think they have overpaid, but the transaction doesn't complete until Q1/2016 and hopefully the PoO will be higher by then and should trend upwards longer term.

If Brad can get some contiguous blcks and reduce overall cost per barrel of production then if they can pay for themselves at these low prices that should give plenty of upside if the PoO recovers...lots of IFs and BUTs, we just need to stay in the game to benefit from the eventual oil price recovery.

GL all LTH's!

[carpadium] 10/12/2015 21:21

Twin Butte, of all companies, that Jamesie I find very worrying although I suppose it's not surprising given the massive problems Canadian lending banks have in reigning back debt levels.
It would appear National bank have just ratcheted up their concerns.

Who knows how we fare with our chartered bank? You can't ignore the bit in the MD&A where it states 'the company is required to maintain a senior debt to cash flow ratio of less than 3.0 to 1' only to read at Mar 31 it was 2.9 to 1, June 30 5.7 to 1 and by Sep 30 it was 10 to 1. Edge is 47% drawn down on their credit facility although the $17m ceiling will certainly be nowhere near that figure now.

We can only hope Brad the smooth-tongued can negotiate workable terms for the near future.

[jamesiebabie] 10/12/2015 19:39

Interesting! Twin Butte [our neighbours] look to be in trouble and I suspect BN will be asking questions about contiguous acreage.



Laz - my son had an op yesterday, my wife a major one 10 weeks, ago. I suspect between them there will be more.

[bigt20] 10/12/2015 17:24

Jamiesie,

Sorry to hear about your family's circumstances - wishing the best for their health and future.



Laz - all the best for your daughter too.




Wishing everybody a merry Xmas and hopefully a rising poo in 2016 and beyond!

[carpadium] 09/12/2015 14:00

Thanks Jb .. some thought-worthy points!

[lazarus2010] 09/12/2015 11:09

Hi JB, very sorry to hear about your personal issues, as if we don't all have enough to worry about in these crazy times! I sincerely hope everything works out for the best. My daughter had an eye operation last week to try and improve her strabism, it was very worrying and no guarantee of success and she was crying on and off for 2 days due to the pain, now after almost one week she is on the road to recovery and things are looking up. I can feel for your concerns over your wife and child, we just want to protect them from all the bad things out there and some things are just beyond our control. Best of luck mate and here's to $100 oil, the only thing I want for Christmas!

[jamesiebabie] 08/12/2015 14:47

Carp - here's another view of oil/silver/gold. Interesting stuff for me to read.

[bigt20] 08/12/2015 11:06

BigT20 23 Nov'15 - 21:42 - 3518 of 3546 0 0 edit

Are we going down to the marginal cost of production?

Gary Shilling 19/11/15: