Egdon Resources Share Discussion Threads

[fox you] 23/3/2015 09:08

it was due to RNS, just read it, not good at all

Fox You

[fox you] 23/3/2015 09:04

why the massive drop today?

[rogerlin] 19/3/2015 20:02

Useful map for seeing where onshore licences are.

[rogerlin] 18/3/2015 17:38

In the latest announcement about Biscathorpe I don't see anything about a further farm-out, perhaps they can proceed without? Prospect A is much further off and I imagine will be a much more expensive drill- seems quite a good prospect to me but present climate indeed chilly.

[whackford] 18/3/2015 08:25

Rogerlin. I see - thanks.
I believe Egdon are seeking a farm-out for both Prospect A and Biscathorpe and wonder if they will be able to find partners in present climate.

[rogerlin] 17/3/2015 20:13

whackford. Re Prospect A. I see that there is an old well onshore in this area, Claughton-1 of which Deltaic said "The onshore Cloughton-1 well at the western edge of the structure tested quantities of gas from the Carboniferous". I can't find out how much, it seems to be too long ago, but found a reference that Roc in 2004 intended to re-drill it. Any drill of prospect A from onshore couldn't be too far from this.

[rogerlin] 17/3/2015 17:59

"PEDL253 contains the Biscathorpe discovery, drilled by BP in 1987 which encountered a 1.2 metres thick oil-bearing sandstone of LowerWestphalian age within a 24 metres gross sequence. The well was not tested".

The original discovery was a bit thin. Hopefully the sand may be thicker at the new location.

[wantage] 17/3/2015 14:02

bought a 100K this morning no movement large supply.

[whackford] 17/3/2015 11:00

Egdon are looking to farm out Biscathorpe (see last presentation) so this would reduce NAV and could delay drilling.

[wantage] 17/3/2015 09:56

I believe that if 41 million barrels are discovered it could be worth £6.40 to Egdon.The well has been drilled before, and oil found.Egdon must have best risk/reward in London market.

[joshuam] 17/3/2015 04:01

Yes, don't understand the downward movement on positive news but will keep topping up

[wantage] 16/3/2015 18:50

I find it extraordinary,that when it's announced they're looking at a possibility of finding anything between 14 and 41 million barrels onshore, the share promptly falls.Am I missing something?Can someone explain or is Aim totally doomed for the majority of smaller market caps in mining and energy sectors?
I believe onshore costs are no more than $35 a barrel, so if they do strike the upside is enormous.

[proactivest] 13/3/2015 15:21

Video interview with Cantor's Wahab

[whackford] 11/3/2015 09:39

Wantage.
There's an estimate of the value of the shale licences contained in the Edison report on Egdon's website. It would be interesting to check, if it is possible, if the INeos/Igas deal supports that valuation.

Of course there's no guarantee that fracking will ever happen in the UK. The licences may ultimately be worthless.

[au24] 10/3/2015 19:42

A LOT more than the share price valuation of today.

[wantage] 10/3/2015 19:06

It would be interesting to know what Egdon's fracking investments are worth,
given Ineos/Igas deal?

[au24] 10/3/2015 12:32

Great news for IGAS today.
Soon the whole sector will be singing again.

[rogerlin] 10/3/2015 09:30

Thanks whackford. It looks a promising prospect, large in comparison with most but presumably more expensive to drill.

[whackford] 10/3/2015 09:16

Rogerlin. Thanks for confirmation.

Regarding access to Prospect A, I was told that Egdon will require access rights over a narrow on-land strip from an existing Egdon licence extending to the coast. It is expected that this will be acquired when the upcoming licencing awards are made.

Providing that condition is satisfied, I am told that drilling "A" from onshore is technically feasible.

[rogerlin] 10/3/2015 08:48

I think the current Egdon licence is smaller but presumably "lead A" of Deltaic is Egdon's "Prospect A". I don't know how far out it is possible to drill from shore but they evidently think they can reach it.

[whackford] 10/3/2015 08:19

Rogerlin. Is the Deltaic licence described coincident with P1929 which contains Egdon's Prospect A?

[rogerlin] 09/3/2015 18:31

Looking for info on Prospect A, found this, a bit indigestible but worth a glance.

[joshuam] 08/3/2015 14:28

Wow, fox you schadenfreude your a pretty sad person.