Egdon Resources Share Discussion Threads

[nash81] 01/1/2021 19:32

EDR broker target is 35p

ok, we may not get there, but surely we can get at least 1/3 of it, ie 8p

[currypasty] 31/12/2020 12:32

a bit of late interest

[currypasty] 30/12/2020 12:12

I found this one from VSA



"our valuation of Wressle via an increased chance of success from 50% to 90% valuing the asset at £4.8m (US$6.1m), which implies 1.5p/sh. based on production of 500bopd which is 150bopd net to EDR."

[currypasty] 30/12/2020 11:55

"According to a note by WH Ireland, Wressle should be worth around 1p share to Egdon "





an old report, but I wondered if anyone has the link to the WHI wressle valuation of 1p to edr?

[currypasty] 30/12/2020 09:18

workover rig due next ?

[likeawalrus] 24/12/2020 14:33

nothing but tumbleweed from egdon....

[currypasty] 22/12/2020 20:01

unfortunately, arrived broken

[lageraemia] 22/12/2020 17:23

Amazon have just delivered a parcel from Canada?

[currypasty] 22/12/2020 09:01

22 Dec, still no results... anyone contacted the company ?

[cca2] 08/12/2020 13:51

What's happening?

[currypasty] 07/12/2020 15:10

any sign of final results ?

have to be out in next 7 weeks or we will be suspended

[anley] 02/12/2020 12:50

Indeed.........but you have to have the courage to cut or stay......very difficult and just look at the history of some of the best traders today.......but in the case of EDR its expensive to run a loss making business and there comes a time when someone has to make the call as to what to do.

RBD approached Deltic Energy who told them to get lost because of their knowledge of what lies underneath the soils of the UK. If you look very carefully one of the directors of Deltic was employed by Centrica who were very much involved with fracking..........not a good outcome but the government finished and stopped all future fracking and at the same time stop drilling.

[likeawalrus] 02/12/2020 11:59

anley thanks for your thoughts, I must admit I am wondering if I am chasing a dream or chasing a nightmare with rbd/ujo/edr, currently I would be happy to break even with WN and Wressle, anything else would be a bonus

[anley] 02/12/2020 10:53

Hi LIKEAW........that's your take but in the case of EDR there is little stock and a buy of say 500,000 would send the stock in to orbit BUT it would soon come crashing down.

Egdon is slowly becoming worthless unless it hits the jackpot. ONSHORE oil is not going to work - too little and all the time EDR will be trying to find reserves and fighting the government. Stop and think this trough..........

EDR have an OFFSHORE area which Shell have now obtained control BUT this is a long term proposition. WHY?

Shell have to run 3D over the area in 2021 then with all their other blocks they control have to put the picture together and this can be time consuming. Quite apart from that the permissions via the Oil&Gas Authority will take time and go in to 2022........then drilling ...............three years and what will EDR be doing in the meantime?

Its all a bit of a jigsaw and not a dealer/punters delight as RBD/UJO might be....but what happens if that's a sort of Duster????

[likeawalrus] 02/12/2020 08:57

DB said in his recent interview that 20bn shares means great liquidity for ujo shares, edr has 328m shares so by DB's logic edr would have greater liquidity in the market with a larger share issue, I disagree, the problem for penny stocks like edr is the spread. 1.3/1.6 today. If I bought at close to 1.6 today the bid price would have to rise by almost 25% just for me to break even, whereas if the quote was say 1.44/1.46 more people would trade which would mean more fees for the brokers and greater liquidity.

[currypasty] 01/12/2020 11:19

yes, jog him along a bit, I cant wait to see what all the cash has been spent on

[likeawalrus] 01/12/2020 11:14

still no news...perhaps I should send Mark Abbott an advent calendar

[guesswhosback2] 29/11/2020 13:53

I think the loan will be more than enough. However once Wressel is away I'm not sure what will happen. I still think they will exchange % for the debt. But what do I know.

[likeawalrus] 29/11/2020 13:31

Hi curry, as you know Mark Abbott's reply to my email said results by end of November, if they dont publish tomorrow investors will rightly be very nervous, I sold my shares last week and moved into RBD as edr seems to be high risk with another 2 months until wressle cashflow, lets hope the loan facility is enough

[currypasty] 27/11/2020 12:20

I wonder if they had slashed their overheads and pay, like a lot of other small cap AIM oilers, they would have been able to put more cash in the ground and got the job done on time as they said H2 2020?

Results will tell all, overdue...........

[anley] 26/11/2020 13:00

This is not the way to run a business - now loaded with debt and oil will only be used to pay down the debt.

On top of this you have the possibility that Shell will want some cash - that's EDR 30% for the seismic data in 2021.

All this makes for a very risky investment............just the value for the AIM quote!

[currypasty] 26/11/2020 08:08

saved their bacon, perhaps we can have final results now auditors can sign off as going concern?