Egdon Resources Share Discussion Threads

[paleje] 02/8/2018 15:35

Central Govt override required I absolutely agree, trouble is the longer this draws out the more the risk of a different central govt grows and that would almost certainly have an adverse effect.

35p without shale still leaves a fair upside and I'm sure MA will be looking to build on that.

[anley] 02/8/2018 14:58

Well at least that is what you think but this is getting to a stage where Central Government policy is at stake. The question we all have to ask is how committed is this government in developing UK onshore oil/gas development and alongside this fracking.

I have listened to the Union Jack Oil CEO today (they have 27.5% in Wressles) and he to be frank is very weak in how to deal with local councellors. Just as a side issue I would think that EDR should mop that company up and start to consolidate this newly forming UK industrial sector.

Anyway if the shares fall any further I may buy as it would not take much to buy up all those loose shares which the broker had to buy in before the No Decision. Who got stuffed up there?

[paleje] 02/8/2018 11:26

It gets so personal with these councils, anley, I've been through the planning hoops a couple of times too with licenses premises and when there's a swell of local opposition and they drink in the same watering holes they band together.

I was surprised MA didn't attend, they tend not to like that either when the main man seems to slight them.

Anyway yes subdued share price again but it's on sentiment not logic. I'll add when I can, might dip a bit more yet.

[jpuff] 01/8/2018 20:40

I also think that 3i inf selling out was a blow. I've been in here ages with quite a large stake for me getting from loss to profit and back to loss again and repeat again etc. Frustrating indeed!

[justjill] 01/8/2018 16:12

Thanks Aubhil and Paleje.

The Sen management clearly have very pooooor political antena. How did they not have a feel that the feeling against EDR was so blooooming strong. The politicians basically hate EDR!

[currypasty] 01/8/2018 15:51

need to get the appeal in quick then!

[paleje] 01/8/2018 15:46

Thanks aubhil. Says refused unanimously.

[paleje] 31/7/2018 15:38

I shall, can't do it live though.

[anley] 31/7/2018 15:33

So watch out for the Drill & Drop report..........

[paleje] 31/7/2018 11:48

Thanks Curry. Are we likely to get a definitive outcome tomorrow then? I thought it would be several weeks.

If it does get a green light then surely we should be nearer twice current price which would still leave us well below MA's estimate even allowing no actual value for the fracking but the lifting of a cloud.

[currypasty] 31/7/2018 11:11

planners said the facilities and infrastructure currently on the site were not “highly intrusive” and did not have a “significantly detrimental impact on the character and appearance of the area”.

They concluded:


“Given the relatively modest duration of the proposed extension to the restoration period, the lack of demonstrable environmental harm as a result of this extension and the financial implications of potentially abortive work should the extension be denied, it is considered that, in this instance, there are material considerations which outweigh the identified policy conflicts.”

[currypasty] 31/7/2018 11:04

Planning Committee - 1 August 2018

PA/2018/794 Mr Mark Abbott, Egdon Resources UK Ltd Broughton Broughton and Appleby 2018_794

[anley] 31/7/2018 10:52

Lets have a gamble and ask ourselves "what will be the price once the planning committee agrees the reccomendation of the planners?"

Will that clear the "disproportionately sentiment"? If it does then for me 20p.....

[paleje] 30/7/2018 18:56

A couple of months ago MA said he thought conventional assets were worth around 35p, he also said fracking could add around 14p to that. The Wressle case is disproportionately affecting sentiment, hopefully it will be gone by October if not sooner.

[anley] 30/7/2018 17:37

It all starts on WED 1 August 2018 with the link below.

Please not that the planners are going for approvals so if this being the case and all goes well then a decision at the end of the meeting and news to shareholders after.

But what happens to the 1m shares floating about...........??????

[anley] 30/7/2018 13:34

If you read the news this morning it was impossible for George Yates and his family to buy all the shares 3i sold. It would have taken him past the 29.99% and forced him to bid 12p+.

What happened was som 1m shares were placed in what I call "loose" hands - the brokers call them institutons but I can't find them - so everyone the price will not go up until all this stock find good homes and by that I mean people who think that over the next few years fracking will become a part of our countries energy policy.

I will declare a 100,000 share holding in EGD and I am interested in buying more after I have finished my due dilegence. In the meantime I am looking at Union Jack Oil as there some over-lapping planning deals and this could lead to interesting issues.

[paleje] 30/7/2018 08:51

Market indifferent, often the case in summer mode but 29.99% and they paid over 12.5p.

[justjill] 30/7/2018 08:26

Think when news of this situation spreads we'll see share price movement. Though summer holidays will probably cap any rise. But that may encourage the "smelly" people to move sooner rather than later. :) We'll see.

[rogerlin] 30/7/2018 08:11

Definition of petrichor - a pleasant smell that frequently accompanies the first rain after a long period of warm, dry weather.

Very appropriate then.

[justjill] 30/7/2018 08:08

Most interesting and pertinent RNS for a good long while. Petrichor now own 29.9% of EDR.

Wonder how much longer any of us will own shares in EDR? Looks very much like they are on the verge of a move.....? So how long? (is 29.9 the max before a level where you're "forced" to bid?)

Interesting days ahead.

[anley] 27/7/2018 15:19

I would not trust share price Angle the brokers who once called the death of Glencore when they were down..................getting a UK fracking industry really going is not a 5 year job.

We have to work these events out for ourselves..........so the next test is the looney left of Liverpool telling IGGAS to get lost....a delay but there case will be win and the costs thrown at the council to pay.

Watch this space on this one.

[fardels bear] 26/7/2018 12:12

Ah sorry misread your post.