Egdon Resources Share Discussion Threads

[fardels bear] 11/7/2019 00:12

Bono? Que?

[robs12] 10/7/2019 18:14

Not much fun here is it..

[anley] 01/7/2019 12:21

That may be a true remark but you have to factor in the POLITICAL risk.

When can the government take new decisions?
What if a Labour government manages to win?
When will a Conservative government put new policies in place if they win?

Be careful BUT in my view and I have said this on several occasions that the either Premier Oil or MR Texas take this over and consolidate the Onshore Industry.

[itsriskythat] 28/6/2019 07:57

See today's RNS from IGas.

It looks like the government will be taking future decisions due to shale being of major importance to the economy.

Good news for IGas and its partner Egdon.

[ohisay] 27/6/2019 10:50

Yes they want a new farm in partner predrill acc to Aprils results.

Dependent upon securing a further farm-out, we hope to drill the North Kelsey Prospect (PEDL241 – Egdon 80%) in the next 12 months

[lageraemia] 27/6/2019 10:38

Hi guys

Have EDR mentioned anything about North Kelsey in terms of timescales?

My understanding is that council have failed to prevent drilling.

My assumption is that EDR are unlikely to carry 80% into the well, so farm down will come before drill announcement?

[ohisay] 27/6/2019 10:33

I've been buying more this morning.Other than the potential resource estimate from IGas/EDR due next quarter on Springs Road ,plenty of other catalysts for rerating here.Worth recalling the VSA note from last month..

EDR announced earlier this year the publication of an updated resource at Resolution demonstrating Contingent Resources of up to 389BCF and average Contingent Resources of 231BCF. The company is progressing discussions with potential partners for the acquisition of 3D seismic. Strong production was maintained into April with the recent production update showing average production in 4mo18 of 238bopd.

We believe the success of the Open Offer, underpinned by support from EDR’s strategic shareholders Petrichor and Premier Oil (PMO LN) demonstrates their confidence in the company’s asset base and the potential of the shale industry in the UK despite recent negative sentiment.

Following the issue of the Open Offer Shares, the Company will have 303,315,625 Ordinary Shares in issue and we have adjusted our year end forecast cash position to £3.3m.

[ohisay] 27/6/2019 09:16

VSA - Broker comment...

Having recently completed an open offer which raised £1.9m on a net basis the company is in a strong position underpinned by a significant production uplift in 2019 driving a stronger revenue and earnings outlook YoY. With a strengthened balance sheet EDR is well placed to capitalise on the results from Springs Road as well as to continue to progress other key areas of its portfolio such as Resolution.
Our current target price of 39p is dominated by our shale acreage valuation which accounts for 27p of the total. The market has to date given little credit to this part of EDR’s portfolio, however, we believe that these latest results should drive a significant rerating of the stock particularly as our valuation of US$787/acre was based primarily on transactions for shale acreage which had only been modestly derisked. More advanced acreage typically trades closer to and in excess of US$2,000/acre. We note that EDR acquired much of its acreage for US$200/acre or less.

NB.Gas content of 24-131scf/ton averaging 71scf/ton versus typical values of 40-150scf/t in the Marcellus. We also highlight that Cuadrilla’s Preston New Road yielded an average of 40scf/ton.

[itsriskythat] 27/6/2019 08:28

This paper is a bit of a legend to Falcon Oil and Gas shareholders, as it justified the further appraisal of their assets in the Beetaloo Basin, Australia.

[itsriskythat] 27/6/2019 08:25

When I said the Gainsborough Trough data compares favourably with the Marcellus, here is the source of the information, Table 1:

[currypasty] 27/6/2019 07:55

about time we had a break

[ohisay] 27/6/2019 07:40

This is really excellent news for Edr shareholders.

[itsriskythat] 27/6/2019 07:32

I've checked independently with other data and results compare favourably with the Marcellus.

[hutch421] 27/6/2019 07:25

From today's RNS - Springs Road-1 Well Results
"The results from this extensive modern core dataset demonstrate that the Bowland Shale of the Gainsborough Trough, where Egdon holds 82,000 net acres, compares favourably with some of the best US commercial shale operations and is potentially world class".

[currypasty] 21/6/2019 16:30

perhaps mr Roberts could see where this was going and pulled out!

[itsriskythat] 21/6/2019 15:08

Are you listening, Mr Walter Roberts?

[itsriskythat] 21/6/2019 15:06

Small sells. No buyers until the next news?

[lukmanpatel] 10/6/2019 06:47

Another troll by the username lsehotdealz haha, share price is stagnant and there’s talks of fundraise at 10p on that board lol desperation has lead to going round posting on different board to prevent share price from dropping, usually ud stay quiet and average down and accumulate if you see huge potential lmaoo he’s spamming all the boards and a newly registered today as a member lol

[ohisay] 05/6/2019 08:59

Quite!

And with the detailed Springs Road results due this month an ideal time to buy..