Edge Res Share Discussion Threads

[sleveen] 27/4/2015 14:56

Interesting news:

[los ricos] 22/4/2015 14:33

laz - re Why are the shares traded there?

I have no idea. I think these small exchanges are pointless, but some brokers/MM's do use them.

[johnsmithmmxiii] 22/4/2015 14:25

Why are the shares traded there? I mean who decides which market they are traded on? See a 42k buy which must have made the bid rise then it's fallen back on nothing?

[los ricos] 21/4/2015 14:55

laz - re post 3041

don't forget ISDX trades.

[lazarus2010] 21/4/2015 13:04

From the above article...

When oil prices recover—and plenty of analysts think the climb back up will start soon—Canada217;s western frontier of Saskatchewan and neighboring Alberta will ‘still have the edge’ [or EDG I hope!!], according to a report from TD Economics.

Depressed oil prices may have skewed the view from Canada’s oil-producing west, but this will be one of the better places to bet on the oil rebound.

Saskatchewan remains the last highly accessible onshore North American oil frontier and it is home to part of the prolific Williston Basin.

And as the industry gears up for the Williston Basin Petroleum Conference (WBPC) on 28 April, the message is clear: Saskatchewan is still alive and kicking.

[lazarus2010] 21/4/2015 13:02

bid dropped to 4.0p after 45k of sells...bit OTT I think! Actual bid/offer currently 4.15/4.5999 for 50k. Maybe yesterday's 100k trade at 4.77 was a sell?

[johnsmithmmxiii] 20/4/2015 13:20

Yup, thanx! Looks promising and exactly in line with the strategy outlined by BN although any acquisitions may be on a slightly smaller scale unless he goes for a reverse takeover of Hess :-))

[carpadium] 20/4/2015 12:32

Is this the one Laz?

[johnsmithmmxiii] 20/4/2015 08:47

There's a good article on www.oilprice.com re Canadian oil opportunities, can't c&p from my tablet due to a software glitch. Can somebody paste the direct link?
Thnx

[jamesiebabie] 20/4/2015 08:31

I notice that the differential was becoming more preferable last week, along with the WTI getting stronger.

[carpadium] 17/4/2015 16:37

Volume surge in Canada today following UK 31% increase yesterday. Great to see yesterday's gains holding firm today.

[johnsmithmmxiii] 16/4/2015 22:49

Carp, Q2 starts in April so I was only 2 weeks out ;-)

Actually what I meant was they were still cleaning up in the first few months after drilling and still increasing production during the following 6 months.

Yes the WDW will be a boost as it cuts costs whatever the PoO.

All looking very good and very reassuring for the future. Next stop 6p ding ding

[carpadium] 16/4/2015 16:55

Laz, middle of March, and probably no change since, they were disposing 650 barrels of water/day saving $65K per month ($2.2K daily, $780K pa.) With third party disposal they're looking at potentially $million saving over the year.

Great day (week so far) for EDG investors, 3rd highest mover on this site on no news whatsoever,
30 odd trades and nothing great volume-wise. We of course haven't 3 billion + shares in issue, just 163.8m which means a little buying pressure can bring the rate of rise experienced today. And as an added bonus in life we're largely free of traders, and with it the trolls who plague and wreck progress. May it continue.

[johnsmithmmxiii] 16/4/2015 12:39

Ps, the 2013 wells that were drilled only really started contributing cash Q2/3 2014 and it would appear BN was looking to build sufficient funds for the next drilling campaign, but then the PoO hit the fan and the rest is history.

He has at least been paying off debt and invested in the WDW which reduces opex and if I remember could be expected to contribute C$11mln in cost savings? I need to check on that!

[johnsmithmmxiii] 16/4/2015 12:34

Gary, I don't disagree with that, but it is all about timing as mentioned by Carpadium. I do believe Brad was preparing to drill some wells last winter until the price crashed and I also believe he missed the opportunity to raise cash above 10pps and drill last autumn. Still we are where we are, with seemingly no chance to go bust, cash flow +ve, a big private investor as part of the financing and low cost good producing wells when they hit the oil! Definitely one to tuck away at these prices imho

[carpadium] 16/4/2015 12:19

We've been told quite clearly that Edge's focus is strictly one of acquisition, so long as it meets important criteria and that will remain their priority until oil prices recover. At $56 it's only $3 above the start of this year and has a very long way to go before fresh drilling is announced. At a guess I'd say a stable $65+ before such news. I too would like them to pick up a bargain and increase their assets, Canadian oilers have been particularly hit and at a guess I'd reckon BN is running his eye over more than one candidate as we speak.

Great to see EDG back on peoples' shopping lists, it's a fantastic buy and hold in my biased opinion.

[gary1966] 16/4/2015 11:53

Laz,

Oil shares need momentum and EDG are doing nothing with the drill bit and weren't long before the oil price drop. If $100 oil wasn't enough to get Brad doing something then what is? This is my only concern with EDG and the reason why I won't commit any more money until I see some operational activity as I can't see oil price going back to $100 in the foreseeable future.

Take your point about NPV etc but if the oil stays in the ground then the only thing that is going to monetise it is a bid. Also if it stays in the ground then cash flow is constrained which in turn hinders exploration/production. Current well production will decline at some point and so new wells are required to keep driving the company forward.

Gary

[johnsmithmmxiii] 16/4/2015 11:01

Gary, with respect I would disagree, an increase in the PoO will increase the value of the reserves and hence the share price far more than an additional few 100 bbls. Of course additional successful wells will prove the reserves and increase revenues. As BN has stated, no point in drilling while PoO is so low, better to keep the oil in the ground, and assuming we're cash flow +ve, bank cash and pay down debt if possible. Also an acquisition or two might be good news!

[gary1966] 16/4/2015 10:09

Share price will be more dependant on activity than oil price, I feel, as EDG have been dormant for over a year now with little sign of it ending. However I agree that there is no danger of EDG going bust and at the moment that is the kind of security I want in a heavily oversold share.

[johnsmithmmxiii] 16/4/2015 09:49

We can always rely on the mm's to kill trading! 4.0 v 5.0 isn't exactly making a market! Actual spread is c. 4.35 v 4.9 to sell/buy 50k

HG, I am hoping for a shorter time period than 3-5 years, maybe 12-18 months for a 20pps target?

Gary, yes, c'est la vie...been there done that and didn't even get a t-shirt!!

Edit , true spread now 4.31/4.45 for 50k

[sleveen] 16/4/2015 09:36

Did you buy any in the 3s?

I did :-)

[highly geared] 16/4/2015 09:23

John, IIRC, the reserves value e were based on only 1/10th of the Eye Hill acreage; hence the huge potential.

The good thing about EDG is it's well managed and shouldn't go bust or get diluted to oblivion no matter what. So taking a 3-5 year view and assuming POO recovers to something reasonable ($75-85), this should be a decent bet.

[johnsmithmmxiii] 16/4/2015 09:18

Think the share price got a bit too frothy there but it shows the potential for when PoO is higher and we get some good news from BN. Fingers crossed neither will be too far away!

[gary1966] 16/4/2015 09:07

That's better Laz. Few oilers moving up strongly over the last couple of days from very oversold positions. Sadly EME and LGO aren't two of them but their time will come. Kicking myself for not pressing the confirm button on the 750K I was considering buying of TPL to average down massively the other day. Cest la vie.