Egdon Resources Share Discussion Threads

[paleje] 18/5/2017 17:00

Blue victory on June 08 wouldn't leave the tree-huggers anything to hope for and govt might take a tougher stance with a fresh mandate. Ineos have invested a lot in UK fracking taking off, JR doesn't get much wrong, I think EDR looks good on its conventional assets but the fracking is cream on the cake. Lots of cream.

There's just no point councils squandering public money to fight appeals they know they can't win.

[currypasty] 16/5/2017 12:27

yes, new application decided summer, appeal next year...imho

[paleje] 16/5/2017 11:33

Yes can see that thanks, travelling so not best connections. But from my own experience with govt appeals, often fresh application goes through quicker than appeal. Politics involved here though too, comfortable to wait.

[currypasty] 16/5/2017 11:13

Paleje, see EDR RNS, below
"Egdon Resources plc (AIM:EDR) announces the submission on 28 April 2017 of a new Planning Application ("the Application") for the Wressle field development. The Application includes additional detailed information to address the specific concerns raised by North Lincolnshire Council in its 11 January 2017 decision to refuse planning consent for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire. The Application will now be validated by North Lincolnshire Council planning department, a procedure that usually takes one to two weeks.


I think some people have miss-interpreted that last statement to mean a decision will be made in 1-2 weeks, that is not the case.

The application has now been 'validated', (on 4th May) basically accepted as legit application, posted up, and process started.

Comments are now invited, up until the cut off date of 8th June 2017. The planning application should then take its normal course of events.

IMHO, I would think the meeting to decide the application will be at the earliest July, and possibly more like august.

[paleje] 16/5/2017 10:21

Thanks curry, that's that appeal but what about the new application.

[nextlink] 12/5/2017 09:06

It won't recover even half of the high after the scale
of the sale without news.
However I can see it easily above 10 pence and with news
who knows.

[fardels bear] 12/5/2017 09:01

If you look at the chart, and I seldom do, it would have predicted that the bounce wouldn't cover the losses after JPM sell off. Folk who bought in for the bounce seem now to be selling as it doesn't look like it is going to be realised.

[paleje] 11/5/2017 10:47

Agreed Curry, must've been Shareprophets reco that slowed the rise down:)

Don't know if anyone reads Malcy, he reckons oil likely to be nearer 60p towards end June, the perception of its demise (again) is misplaced.

If he's right it will cheer the sector up but way before that, maybe next week, we should hear something from the planning officer re the application from 28th Apr, with the amendments made to neutralise objections.

Still very much in top up territory I think.

[currypasty] 11/5/2017 10:07

agree mr fardel, the oil price has been all over the shop this year, there was a dip last week, but well above the bottom. Bit of 'fake news' be daily mail?




the drop here was purely down to JPM bailing out, as per market commentary, director comments, and RNS


IMO, there is still a bit of stock moving about, but I can see no reason why we shouldn't be back to 10 shortly.

[fardels bear] 11/5/2017 09:57

Something like would cause a general price fall in oilies SP, not just EDR.. Somebody once said never to believe anything you read in a newspaper, and that's an adage I still adhere to..

[thetoonarmy2] 10/5/2017 08:38

Nah you also mentioned this one as well

[currypasty] 10/5/2017 08:24

toon, it was EOG I mentioned a couple of weeks ago, not EDR!


ps, EOG up 30% since I mentioned it

[thetoonarmy2] 10/5/2017 08:24

Picked up another500k this am curry fancy this for a quick rebound more so than the other one you mentioned but that's enough for now!

[the big fella] 09/5/2017 15:49

I can't argue with their thought process as it is why I bought yesterday

[the big fella] 09/5/2017 15:36

Who's tip is that?

[scotty1] 09/5/2017 15:34

Two Emergency share tips in one
PUBLISHED: 09 May 2017 @ 14:00

This was unplanned but we present to you two new share tips. We suggest you buy the shares today as tomorrow may well be too late. Both can deliver 50% offer to bid gains within weeks if not sooner.


The second share tip is Egdon Resources (LSE:EDR) at a 7.75p offer. The shares have been slammed by one institution, JP Morgan, dumping its 8.3% stake in a particularly cackhanded manner.

The company is well cashed up and its portfolio of onshore UK operations should deliver a pretty exciting newsflow over the summer. The house broker (VSA again) reckons that the shares would hit 15p without any approvals for fracking but if that occurs 30p is on the cards.

We would just point to the chart which shows that 7.7p is a long term support level which held. The shares have indeed started to bounce off that line and we would expect the rally to continue with the cackhanded selling cleared and ahead of newsflow.

The trade is to buy at up to 8.5p with a target to sell of 12p+.

[the big fella] 09/5/2017 14:44

Some serious buying today. Any overhang must surely be cleared today. These should pop tomorrow

[rollthedice] 09/5/2017 14:43

Plenty of buying this pm but little movement.