Egdon Resources Share Discussion Threads

[fardels bear] 15/4/2019 09:08

Risky to join two dots and make predictions..

[itsriskythat] 15/4/2019 09:01

From last week's Interim results presentation page 14:

A 3D seismic acquisition over the Resolution discovery is planned using the slot availability in September and October 2019.

Resolution CPR published resource 2C 206bcfg.

Ongoing discussions with a Resolution farminee.

From today's RNS:

Appointment of Premier Oil's group exploration manager to Egdon booard.

Joining the dots, what chance is there that the farminee is Premier Oil?

[currypasty] 10/4/2019 10:47

this time last year went from about this price to nearly 13p

Mid July last year Petricher upped its stake to 30%.. (at double todays price)

Easy takeover target if Petricher wanted their money out, directors need to get this moving back up, imo

[currypasty] 10/4/2019 10:29

from results..


-- Oil and gas revenues during the period increased by 88% to GBP1.21 million (H1 2018: GBP0.64 million)
-- Loss for the period of GBP0.72 million (H1 2018: loss of GBP0.85 million)
-- Cash and cash equivalents of GBP1.78 million (H1 2018: GBP4.10 million)
-- Net current assets as at 31 January 2019 of GBP2.35 million (H1 2018: GBP5.08 million)
-- The Company has no debt (H1 2018: Nil)

Post-Period Events
-- Average production January-March 2019 of 240 boepd (January-March 2018: 79 boepd)

[currypasty] 09/4/2019 08:10

farmout next?

[ileeman] 09/4/2019 07:50

Monsterous news on the gas, values EDR at multiples just on the gas.

2c 206BCF + "It should be noted that the substantial (multi-Trillion cubic feet (TCF)) additional gas potential in the underlying Carboniferous sandstones have not been included in this assessment."

[itsriskythat] 09/4/2019 07:36

Bonus RNS today with 2C 206bcf confirmed in the Resolution gas discovery.

[currypasty] 05/4/2019 10:16

igas up.. update on springs due?

[anley] 04/4/2019 17:53

There is more bad news for onshore drillers and frackers as Big Jim lost a Court of Appeal case yesterday so I am surprised that this share is not down to 5p..........

[joshuam] 04/4/2019 15:48

250,000 was that a sell anyone?

[anley] 28/3/2019 16:21

Sorry No as the anti frackers debate the issues in the House of Commons this after noon.

[ileeman] 28/3/2019 07:57

Significant gas shows, now that should excite the market.

[talkman2] 28/3/2019 07:40

We should not be languishing at these levels with mega news like this . Crazy markets

[itsriskythat] 28/3/2019 07:30

From today's IGas RNS

"We have now reached TD for the well, having successfully encountered the tertiary target, the Arundian shales where gas indications were also observed. Wireline logs and cores have now been acquired across all targets. Petrophysical and core analysis is currently being conducted, which will give us further insight into the resource potential and shale characterisation that will be utilised for future appraisal and development of the wider East Midlands area.

The rate of drilling at both Tinker Lane and Springs Road (down to the primary target) were quicker than anticipated, with corresponding cost savings. This is highly encouraging for future cost efficiencies.

The Tinker Lane and Springs Road results will form the foundation of a pilot development in the East Midlands which looks to leverage the advantage our existing infrastructure and unique UK onshore operational capability offers. The first phase of our development indicates significant potential within the region to expand our existing operations around a pilot shale development that could see sustained production over the long-term. Based on average gas consumption rates, this would supply the needs of hundreds of thousands of UK homes for many years."

[currypasty] 26/3/2019 11:57

perhaps its time to monetise Springs road? It could be that investors think developing this further will be a long and fraught task, hence the shareprice.. Sell it on to someone with bigger pockets and strong legal team?

[ileeman] 26/3/2019 11:01

Well looks like I timed by buys a bit wrong, thought this would get a ton of interest post RNS.

Market now pricing in nothing for the news which seems crazy to me, will continue to hold for the next update. Expecting big things.

[anley] 25/3/2019 15:40

No I just have a nominal holding as UK fracking and drilling onshore is not going to be a growth business as there are too many political problems in the way.

More indifferent news to come rather than good so I will stick to the Southern North Sea gas exploration with CLNR as an example and with Shell as a partner.

[jasper2712] 13/3/2019 10:10

Back to where we started the week. It is as if Spring Road result didn't happen! I had to check back to make sure it had.

[fardels bear] 12/3/2019 13:41

Well, it always did.

[anley] 12/3/2019 13:29

and so the market marks it down on very little selling and a lack of interest.............