Egdon Resources Share Discussion Threads

[itsriskythat] 28/12/2017 17:01

Taking positions for 2018 ..

"The Year of the Frack"

The early part of 2018 is expected to see significant activity in the sector with planned drilling, hydraulic fracturing and testing of two horizontal wells at Preston New Road by Cuadrilla, hydraulic fracturing and testing operations by Third Energy at Kirby Misperton-8, and 3D seismic acquisition by INEOS in the East Midlands including over parts of Egdon's licences in the Wellbeck Low.

The testing at Kirby Misperton-8 has potential read through to Egdon's interests in the neighbouring Cloughton gas discovery (PEDL343) and the prospective Carboniferous section at the Resolution Prospect offshore.

In relation to Egdon's own licence activity, the operator of PEDL140, IGas, has advised that it intends to drill Springs Road-1, the potentially play opening Gainsborough Trough exploration well, in early 2018 once all planning conditions have been discharged. This is a key well for Egdon as it is located in its core area for unconventional resources.

[rogerlin] 15/12/2017 08:32

Shortage of gas? Time to frack the Bowland shale then!

[currypasty] 14/12/2017 09:43

Prospect To Go: The Widmerpool Gulf - New insight into an
established Petroleum Province
Mark Abbott, Egdon Resources Plc

[currypasty] 05/12/2017 15:30

Holmwood TMP NOT due to be heard at December meeting... jan next possible!

[rogerlin] 04/12/2017 18:13

There is a requirement for tugs to move the Rowan Gorilla VII suggesting that the Ravenspurn drill may at last be coming to an end, as I understand it this is testing the Carboniferous, might be some relevance to the EDR offshore licences although it is some distance away?

[rogerlin] 20/11/2017 16:06

As previously announced, Premier entered into a sale and purchase agreement to sell its interests in Licences PL089 and P534, which contain the Wytch Farm field, to Verus Petroleum (SNS) Limited ("Verus") for $200 million cash consideration. The transaction was subject to the pre-emption rights of existing joint venture partners and Premier subsequently received notification from Perenco UK Limited ("Perenco") of its intention to exercise those rights.

I wonder if Verus would like to buy PMO's 15% of EDR instead? Fiskerton not quite as productive as Wytch Farm admittedly.

[currypasty] 09/11/2017 09:41

Unfortunately all we have to go on is the reporting from 'drill or drop', the writer is obviously very biased against the drilling...

[currypasty] 08/11/2017 15:07

day 2 Mark Abbott in the hot seat

[rogerlin] 07/11/2017 08:46

Courtesy of a poster on the VRS thread, but includes interview with David Bramhill of UJO, starts 10mins 20, comment on Fiskerton from 11mins 40, he says when it started production it did 1000 barrels/day, EDR think they can get it up to 30-40 bbl/day.

[currypasty] 06/11/2017 08:17

Egdon Resources plc (AIM:EDR) is pleased to announce the sale of a 20% interest in the recently acquired producing Fiskerton Airfield oil field in Lincolnshire licence EXL294 to Union Jack Oil plc ("Union Jack").

The cash consideration for the 20% interest is approximately GBP137,000. In addition, Union Jack will wholly fund re-processing of the 3D seismic dataset at a gross cost of GBP35,000. The combined consideration and carry is equivalent to approximately GBP165,000 (or approximately $218,000).



EDR sold UJO bought.. who got the better deal ?

[rogerlin] 03/11/2017 08:12

"Nevertheless, INEOS’s commitment to the sector should ensure that planning applications, seismic surveys and exploratory wells are expedited".

Thanks for that link ohisay. Indeed I think that the arrival of Ineos is most hopeful, it is clear from recent planning problems that success will need much tenacity and it was doubtful that Total would be really interested in the details.

[rogerlin] 01/11/2017 08:08

But the target in the Gainsborough Trough is a considerable one.

[walbrock82] 31/10/2017 19:11

Apart from the current level of production, Egdon Resources is still some years away from bringing the rest of their oil and shale gas portfolio into production. Also, they require a series to fundraising to implement these projects. With low oil price being persistent, there are high-risks for things to go wrong, given that it’s in the UK.
And at £20m, Egdon is fairly valued.
For full analysis of Egdon Resources and other companies’ analysis, click

[currypasty] 31/10/2017 16:32

mcap £20m
operations Revenue 1,039,348
Gross loss (536,914)
Administrative expenses (1,178,249)



Europa
mcap £18m
Group revenue of GBP1.6m
Gross profit/(loss) 110,000
Administrative expenses (553,000)

[currypasty] 31/10/2017 16:17

compared to Europa's results, overheads/costs seem a lot higher

[guesswhosback] 30/10/2017 12:13

Lets hope for some good news on Wressel for a change.