Egdon Resources Share Discussion Threads

[markfrankie] 01/2/2021 09:53

Well done EDR

[currypasty] 01/2/2021 08:46

the three Companies need a bit of PR now, get some new blood

[guesswhosback2] 01/2/2021 08:25

This is good news all around.

[bean02] 01/2/2021 08:04

5k available at 2.5

[bean02] 01/2/2021 08:01

Ujo 40% market cap 37MEdr 30% market cap 6.8M

[currypasty] 31/1/2021 21:20

Mr Daniel Levi (Sinner)
@BrokermanDaniel
·
27m
Oil flowing at #Wressle. Confirmed this afternoon...

[gunsofmarscapone] 30/1/2021 21:23

The storage system is not yet approved, prove me wrong matey. You can’t!

[guesswhosback2] 30/1/2021 19:06

No only you Guns. You are the only one, strange that? And how fast will you back track when they draw first oil next week?

[gunsofmarscapone] 30/1/2021 17:33

Did anyone else ping the possible HSE report delay?

[nash81] 29/1/2021 11:30

EDR looking very cheap with Wressle news next week !!

[thetoonarmy2] 26/1/2021 12:41

What about Ujo and EDR merging several common projects EDR small market cap £8 mill could be got quite cheap share swap roll it into one makes sense.

[guesswhosback2] 26/1/2021 11:01

Maybe it should read DB SHOULD only say what he is told by EDR.

Im with likeawalrus, I priced in nearer $10 so quite a bit higher.

[likeawalrus] 26/1/2021 10:45

curry dont forget db said that excluding upfront costs break-even is closer to $10 so that should mean an extra $7 per barrel, so maybe $6750 per day?

[likeawalrus] 26/1/2021 10:40

"DB can only say what he's told by EDR" are you sure about that??? db made his "oct def. oct" statement on 4th Aug at the same time as edr was saying Q4, anyway it's not important as long as wressle delivers soon, it's been a very long and sometimes painful wait.....

[currypasty] 26/1/2021 10:39

How much is it worth, GWB2?


from rns
"Economic modelling has demonstrated that Wressle is economically robust even in the current low oil price environment with an estimated project break-even oil price of $17.62 per barrel. Initial production is expected to be 500 barrels of oil per day ("bopd") (150 bopd net to Egdon). The Wressle Field has been independently audited (2016 Competent Persons Report ("CPR" ERCE) with gross 2P Reserves of 0.62 million barrels of oil ("mmbo") and 2C Resources of 1.53 mmbo. "



current oil price $56, so for edr 500 x 30% x (56-18) = $5700/ day, $2 million/ year

What cash now value is that worth ? $2m/year, constrained, with other zones to look at, and potential other wells?

[guesswhosback2] 26/1/2021 10:27

DB can only say what he's told by EDR. They have zero credibility. Up until recently they had run out of cash. However, there will be some consolidation around Wressel and Bisca in my opinion so someone will take the cash and run. I backing all 3 now.

[likeawalrus] 26/1/2021 10:05

DB's "october, definitely october" came and went, edr's Q4 came and went, it wasnt until jan 6th that edr indicated end of Jan, I really hope that if the deadline slips (again!) edr immediately issues a new deliver date and an explanation, their credibility is in the spotlight imho, (as is db's), hopefully a non-issue, 3rd time lucky???

[guesswhosback2] 26/1/2021 09:51

Great post Curry.

So much so I have just bought some more.

[currypasty] 26/1/2021 09:23

Hi Laz, nice to see some 'new' posters on here. Unfortunately starting at day one at 30p could give you the impression that this Company has been a complete and utter waste of time and money.. correct

Like its partner in the Wressle project, Europa oil and gas, its been one very long history of failure, blue sky dreams and placings at ever decreasing prices. Many sets of directors have had well paid jobs throughout though, as they come and go!

Whats the point of investing now then, I hear you ask? Well, it seems that the Wressle project is about to come on stream THIS WEEK! This is after years of operational issues, planning issues, funding issues, historical partner issues, and poor oil prices at times.

The well has flowed, its not a test this time, but actual production of expected 500 bopd, split 30% EDR, 30% EOG, 40% UJO.

That 500bopd is a constraint by the planning due to short term, the oil having to be trucked away. That glass ceiling could be moved by new operational methods, and an updated planning application. One possible way forward is a pipeline to nearby facility.

Here, the shareprice has been hit as it was clear last Autumn cash was thin (company RNS and recently accounts). People expected a discounted placing.

However, good old UJO stumped up a 1 mil loan, to get the job done as they are a partner. Also edr biggest shareholder stumps up another mil loan. So funding is now sorted.

Various brokers have put ridiculous target prices on edr, but even if they are a half or quarter true, edr should motor from here.

What else have they got? Biscathorpe is the next 'blue sky' project, which sounds like getting going shortly with the planning appn.

all, IMHO, after 14 years involved here (longer than a lot of the directors)

[lazarus2010] 26/1/2021 08:55

Curry, first time ever looking in on Egdon, and of course the BB opens at post #1...
re-posted for nostalgia ;-)

They don't quite seem to have done 'what it says/said on the tin'

22.5p target if they achieved that would at least start to get them closer!

-----------------------------------------------------------------------------------
CURRYPASTY21 Dec '04 - 08:30 - 1 of 4228
0 0 0
21 December 2004
EGDON RESOURCES PLC

First Day of Dealings on AIM


Egdon Resources Plc ("Egdon" or "the Company"), the independent UK focused oil
and gas exploration company, is pleased to announce that trading of its shares
commences on AIM today.



The Company has raised #4.5 million (gross of expenses) for the Company and
#500,000 for existing shareholders.



Seymour Pierce Limited ("Seymour Pierce") is the Nominated Adviser and Broker to
Egdon.



Egdon has interests in nineteen exploration licences containing a significant
number of identified oil and gas prospects and is primarily focused on the
hydrocarbon-producing basins of the on-shore UK.



The Company has found hydrocarbons in two of the three wells it has participated
in to date:



- Avington-2 in 2003

- Waddock Cross-2 in 2004



Both of these oil discoveries are currently under appraisal with production from
Avington and Waddock Cross expected to commence during 2005.



The Company intends to become a significant and profitable oil and gas producer
through an active and focussed exploration and appraisal drilling programme,
asset and/or company acquisitions, and pro-active management of the Company's
oil and gas assets. In particular, the Company will look to grow largely through
exploration success, continue to focus on the on-shore UK and will look to
identify and exploit new technologies and opportunities to enhance asset value.



Placing Statistics


Placing Price 30p

[thetoonarmy2] 25/1/2021 17:33

curry I agree it seems to lag UJO/EOG on the wressle news which should be very soon couldnt resist a top up of 500k it at leasts brings my average down to a more respectable level.

[grannyboy] 25/1/2021 17:11

I'd like to know how they justify a t.p of 22.5p.. Maybe it's a typo and they've put one to many 2's, and should read 2.5p?

Just out of interest as I don't hold any here!

[currypasty] 25/1/2021 16:46

latest VSA report of 11 / jan

"We reiterate our Buy recommendation and 22.5p/sh. target price."