Egdon Resources Share Discussion Threads

[anley] 12/3/2019 11:10

On what basis LETMEPASS as this is a rampers comment.......

Are you a shareholder..........if no reply within 24 hours the BB will take it that you are not one.

[letmepass] 12/3/2019 09:53

Once 8p is broken should see this gain momentum over the next few weeks

[fardels bear] 12/3/2019 09:09

Well, it never has yet..

[ileeman] 12/3/2019 08:57

Added 50k, market not pricing in anything at the moment but I am sure it will soon enough.

[anley] 11/3/2019 15:15

and EDR paid for it................but that is how the City is working these days as more and more retail investors sell up either to go into funds or cash.

I have said this before and will say it again ........ the largest shareholder should take this business back private at say 12.5p per share which is what he paid for his last big top up.

I would sell and so would all the stale bulls even if the news sounds exciting.

[bionicdog] 11/3/2019 14:47

A nice round pound , they put a lot of effort into that.

[someuwin] 11/3/2019 14:45

Edison note - 100p.

Egdon Resources Springs Road update

Extensive shale sequence with gas indications

IGas has released an initial update on drilling activity at Springs Road, with over 250m of hydrocarbon bearing shale encountered. Pressurised core samples were shown to release gas at atmospheric pressure as can be seen in this video released by IGas. Our last published conventional asset value for Egdon was 12.7p/share and included 3.6p/share of risked value for Biscathorpe-2 which we expect to remove. The valuation of Egdon’s net shale resource (188,000 net acres) remains uncertain but, in our view, has the potential to be worth a risked c 100p/share based on the current expectation of well cost, type curves and forward gas prices, assuming a supportive political and planning backdrop.

[currypasty] 11/3/2019 12:52

might take a few days to sink in as EDR only lightly traded, but great result so far for only £20m mcap company. 5 year chart shows plenty of headroom, imo

[guesswhosback2] 11/3/2019 11:27

I guess we could think about Wressel and Biascathorpe possible side track too?

[guesswhosback2] 11/3/2019 10:18

Someuwin - thanks for posting the targets.

[fardels bear] 11/3/2019 10:09

Kiss of death that.

[someuwin] 11/3/2019 09:59

And Cantor Fitzgerald today reiterate 20p target price.

[someuwin] 11/3/2019 09:54

VSA Capital

This Morning’s News

Egdon Resources (EDR LN)

Egdon Resources (EDR LN) has announced positive results from the Springs Road 1 well where it has a 14.5% interest. The drilling has demonstrated over 250m of hydrocarbon bearing shales including the Upper and Lower Bowland shales as well as the Millstone Grit sequence. Significant gas indications within these shale sections have also been noted. This means that each of the key drilling targets were successfully intercepted although drilling is ongoing indicating the potential for further targets to be intercepted within the deeper sequences. Petrophysical analysis and core analysis is now being carried out which is due to be completed in Q2 2019.

EDR holds 82,000 net acres in the Gainsborough Trough and these initial results confirm the viability of the company’s strategy, in our view. The results indicate the potential for significant prospective resources at Springs Road and potentially in the wider EDR license area. These licenses are focused on the central areas of the Gainsborough Trough therefore differing from IGas’ (IGAS LN) strategy which includes Tinker Lane on the margins of the play.

Our valuation attributes 13.5p/sh. to EDR’s shale acreage highlighting the undervalued nature of the shares currently, however, we see this announcement as a significant step towards derisking the shale assets.

We reiterate our Buy recommendation and 46.7p target price.

[anley] 11/3/2019 09:45

How do they work that out as its a bit of a rampers comment!!

[someuwin] 11/3/2019 09:14

Looks good. VSA Capital have 46.7p target price

[guesswhosback2] 11/3/2019 08:44

Agreed. EDR do not have a big following. Some recent posts also noted the lack of available shares. If she goes it could be dramatic.

[talkman2] 11/3/2019 08:42

When companies start talking about strategic reserves and the country’s balance of payment you are talking of a massive find . Very surprised at the muted so response . This potentially is mega , a massive game changer .

[erithacus] 11/3/2019 08:11

The Millstone Grit horizon looks really promising, anyone know if the gas in this section flows conventionally without fraccing? Could be a game changer if so.

[guesswhosback2] 11/3/2019 08:09

Great news and very welcome

[keya5000] 11/3/2019 07:16

Massively bullish result from Spring Road.

UK energy security.

Bring it on.

[keya5000] 10/3/2019 21:21

Sky saying spring road is a major gas find.

Igas to announce in the morning.

[anley] 08/3/2019 14:42

If by April 4 there is no "real" news then I will consider selling my holding for tax loss purposes...............

This sector is not taken seriously and it is fracking that is holding this sector back. The finds are to small and fracking is not going to be allowed in my view because its just to costly with police and security to be paid.........we shall see but I think I am right in the medium to long term.

Good luck to everyone else.......